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💬 "Bitcoin price risks $30K over 'supercharged' inflation" — Arthur Hayes, the former CEO of crypto exchange BitMEX
While Bitcoin is still 75% up compared to a year ago, it faces a perfect storm of downside volatility catalysts this quarter, according to Hayes.
These catalysts come in several forms: the Red Sea conflict between the United States and the Houthis impacting global shipping, the U.S. Presidential Election race, and Federal Reserve policy.
"What might be a mild increase in the rate of inflation due to increased shipping costs could be supercharged by rate cuts and the resumption of QE. The market doesn’t appreciate this fact yet, but Bitcoin does."
