03:50
Arthur Hayes: The influx of funds into ETFs and DAT has ended, and if liquidity cannot cover Bitcoin, it must fall.
ChainCatcher news, Arthur Hayes recently stated that although the liquidity of the US dollar has contracted since April 9, the inflow of ETFs and the purchase of DAT have allowed Bitcoin to rise, but this situation has now ended.
The tone is insufficient to encourage institutional investors to continually purchase ETFs, and most DAT trading prices are below mNAV, prompting investors to start avoiding these Bitcoin derivative securities.
If these flows can't mask negative liquidity, Bitcoin will have to fall to reflect current short-term fears that dollar liquidity will contract or not grow as fast as politicians have promised.
BTC0.71%

