BitMEX co-founder Arthur Hayes says Bitcoin is gearing up for “up only mode” as mounting US macroeconomic factors could force the Fed to intervene.
Bitcoin (BTC) is entering what former BitMEX CEO Arthur Hayes calls “up only mode,” as a deepening crisis in the US bond market potentially drives investors away from traditional haven assets and toward alternative stores of value.
On April 11, the benchmark US 10-year Treasury yield surged above 4.59%—its highest level in two months.
US 10-year Treasury note yields daily performance chart. Source: TradingView
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