Arthur Hayes said a new cryptocurrency bull market has begun and that Maelstrom is taking maximum risk across Bitcoin, Ethereum, Ethena (ENA) and Ether.fi (ETHFI). In an Altcoin Daily interview, he predicted Bitcoin could soon enter a parabolic advance and reach hundreds of thousands of dollars, while arguing that investors concerned about the Federal Reserve’s control of bond yields should own the asset. Hayes also said the revival of basis trading, which exploits price differences between spot and futures markets, could support the broader market and give ENA significant upside, although interest rates remain too low. Separately, Hayes described Flop Network as a binary bet that could make FLOP one of the market’s two largest tokens by becoming the core currency of the AI Agent economy or amount to nothing. He said FLOP has no presale, cannot currently be purchased and will require useful testnet participation for eligibility for a future airdrop.