BitMEX co-founder Arthur Hayes highlights reduced dollar liquidity’s impact on Bitcoin and foresees Zcash gains after post-shutdown TGA drop boosts markets.
Arthur Hayes, co-founder of BitMEX, reiterated that Bitcoin has fallen 5% since the July U.S. debt ceiling increase, coinciding with an 8% drop in USD liquidity driven by higher Treasury General Account (TGA) balances siphoning funds from markets. He predicts that after the U.S. government shutdown ends, a decline in the TGA will release liquidity back into the system, supporting Bitcoin price recovery, with Zcash (ZEC) likely outperforming Bitcoin gains.