The crypto and stock markets are typically highly impacted by the US Treasury Dept issuing treasury bills to refill its Treasury account balance as it drains US dollar liquidity from financial markets. However, BitMEX co-founder Arthur Hayes revealed the impact is not as critical as expected and risk assets like Bitcoin price will start to rally soon.
Arthur Hayes Bullish On Bitcoin Rally
BitMEX co-founder Arthur Hayes on June 20 said the Treasury General Account (TGA) refill is not impacting risk markets as the US dollar net liquidity stands at $77 billion. He believes the TGA refill by the US Treasury Dept is nothing to worry about.
Arthur Hayes plans to buy crypto as the net liquidity index remains “positive.” If the index goes “negative,” he will slow down or stop his purchases. He predicts that US Treasury will slow down T-bills or debt issuance once the TGA balance is more than $450 billion.
TGA balance during the debt ceiling deal was below $40 billion, now it is $250 b
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