Why Bitcoin is currently lagging behind gold — Arthur Hayes’ explanation
BitMEX co-founder Arthur Hayes explained that Bitcoin is temporarily trailing gold due to a shortage of dollar liquidity. According to him, a significant portion of capital is now flowing into AI infrastructure, leaving fewer free funds available in the crypto market.
Hayes suggests that the market cycle bottom may not yet be formed. In the event of an escalation in the US-Iran conflict, BTC could temporarily drop below $60,000.
Nevertheless, he remains optimistic about the long-term outlook. The main growth driver for the crypto market, as before, will be the large-scale issuance of fiat currencies.
