Bitcoin

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<ul><li>Bitcoin and Ethereum must exceed $70,000 and $4,000, respectively, to trigger the next altcoin season.</li><li>September’s liquidity surge will help crypto break out of its recent stagnation, boosting market activity.</li><li>Post-debt ceiling resolution in early 2024 may ignite a strong bull run, with Bitcoin potentially hitting $1 million.</li></ul>Arthur Hayes, co-founder of cryptocurrency exchange BitMEX, predicts a shift in the cryptocurrency landscape. He suggests that an altcoin season will not emerge until <a href="https://cryptotale.org/bitcoins-price-action-suggests-potential-for-range-trading/" rel="noopener noreferrer nofollow">Bitcoin </a>and Ethereum surpass critical price thresholds, as reported by journalist Colin Wu. According to Hayes, Bitcoin needs to breach $70,000, while Ethereum must climb above $4,000 for the alt season to commence. Additionally, he expects Solana to rise past $250.These price points are crucial for reversing the current sideways and downward trends observed in the market. Starting in September, the anticipated resurgence of liquidity from the US dollar will play a significant role in this turnaround.As liquidity improves due to <a href="https://cryptohayes.substack.com/p/water-water-every-where" rel="noopener noreferrer nofollow">increased</a> issuance of T-bills and buyback programs, the crypto market is poised to break out of its recent stagnation. Hayes believes that this period of summer weakness offers a strategic opportunity to increase exposure to cryptocurrencies.The upcoming US election in November will also impact market dynamics, with Yellen likely to employ extensive manipulation in October to boost liquidity. Therefore, Hayes plans to capitalize on any market strength by taking profits from speculative trades and reallocating capital into more stable assets like staked Ethena USD (sUSDe).<a href="https://cryptotale.org/bitcoin-ethereum-must-hit-70k-and-4k-for-alt-season-says-arthur-hayes/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin & Ethereum Must Hit $70K and $4K for Alt Season, Says Arthur Hayes

CryptoTale

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