Arthur Hayes Predicts Trump Tariffs Will Boost Bitcoin Prices
BitMEX co-founder Arthur Hayes discussed the current crypto market turmoil due to Donald Trump's new tariffs, suggesting they may ultimately benefit Bitcoin. Key points include:
- Trump's tariffs initiated on April 2 impacted global markets; Nasdaq declined by 1,000 points (6%) and S&P 500 dropped 275 points (5%).
- Bitcoin traded at $84,233, up 0.80%, with altcoins facing less selling pressure.
- Hayes argues tariffs might weaken the US Dollar, increasing demand for Bitcoin.
- A potential 65% tariff on China could depreciate the yuan, prompting Chinese investors to consider Bitcoin.
- The Fed's intervention is anticipated, with a sharp fall in two-year Treasury yields indicating possible rate cuts or quantitative easing measures.
However, concerns remain as long-term investors are showing signs of impatience. On-chain data revealed over 1,058 BTC were transferred recently, signaling profit-taking which may exert additional selling pressure on the market.