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<p><a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a><br><img src="https://bitcoinworld.co.in/wp-content/uploads/arthur-hayes-bitcoin-bull-market-126k.jpg"><br><a href="https://bitcoinworld.co.in/arthur-hayes-bitcoin-bull-market-126k/" rel="noopener noreferrer nofollow">Arthur Hayes: Bitcoin Bull Market Began in February, $126K Next</a></p>
<p>BitMEX co-founder Arthur Hayes has declared that the Bitcoin bull market is already underway, arguing in a recent blog post that the rally began in late February. Hayes links the move to a surge in fiat-based credit expansion driven by massive investments in artificial intelligence infrastructure, rising military expenditures, and spending on physical supply chain security.</p>
<h2 id="macroeconomic-drivers-behind-hayes-bullish-outlook">Macroeconomic Drivers Behind Hayes’ Bullish Outlook</h2>
<p>Hayes points to unprecedented capital expenditure in AI as a primary catalyst. He notes that the U.S. Federal Reserve and other central banks continue to inject liquidity into the financial system, a trend he expects to accelerate. “The expansion of fiat credit is inevitable given the scale of government and corporate spending on AI, defense, and infrastructure,” Hayes wrote.</p>
<p>He also highlights a declining trust in U.S. dollar-denominated assets, which he believes is prompting a shift of capital into physical infrastructure and commodity stockpiles. This reallocation, in his view, will further fuel fiat expansion and ultimately benefit Bitcoin as a non-sovereign store of value.</p>
<h2 id="price-targets-and-portfolio-strategy">Price Targets and Portfolio Strategy</h2>
<p>Hayes argues it is a foregone conclusion that Bitcoin will surpass $126,000, with a break above $90,000 likely to accelerate the rally. He disclosed that his asset management firm, Maelstrom, has increased its portfolio risk exposure to the maximum level.</p>
<p>Beyond Bitcoin, Hayes expressed particular optimism about NEAR Protocol (NEAR), following earlier positive views on Hyperliquid (HYPE) and Zcash (ZEC).</p>
<h3 id="why-this-matters-for-crypto-investors">Why This Matters for Crypto Investors</h3>
<p>Hayes’ analysis offers a macro-focused perspective that goes beyond typical technical analysis. By linking Bitcoin’s price trajectory to global fiscal and monetary trends, he provides a framework for understanding potential long-term drivers. However, investors should note that such forecasts are inherently speculative and subject to rapid change based on regulatory developments, geopolitical events, or shifts in market sentiment.</p>
<h2 id="conclusion">Conclusion</h2>
<p>Arthur Hayes’ latest commentary reinforces a bullish narrative centered on macroeconomic credit expansion and declining trust in fiat systems. While his price targets are ambitious, the underlying argument about AI-driven capex and government spending is grounded in observable trends. Readers should weigh these factors alongside broader market risks before making investment decisions.</p>
<h2 id="faqs">FAQs</h2>
<p><strong>Q1: Why does Arthur Hayes believe the Bitcoin bull market started in February?</strong><br>Hayes argues that late February marked the beginning of a fiat credit expansion driven by AI infrastructure spending, rising war costs, and supply chain investments, which he says benefits Bitcoin as a non-sovereign asset.</p>
<p><strong>Q2: What is Arthur Hayes’ price target for Bitcoin?</strong><br>He believes Bitcoin will surpass $126,000 and that a break above $90,000 would further accelerate the rally.</p>
<p><strong>Q3: Which altcoins is Arthur Hayes most optimistic about?</strong><br>Hayes has expressed positive views on Hyperliquid (HYPE), Zcash (ZEC), and NEAR Protocol (NEAR), with NEAR being his current top pick.</p>
<p>This post <a href="https://bitcoinworld.co.in/arthur-hayes-bitcoin-bull-market-126k/" rel="noopener noreferrer nofollow">Arthur Hayes: Bitcoin Bull Market Began in February, $126K Next</a> first appeared on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.</p>

Arthur Hayes: Bitcoin Bull Market Began in February, $126K Next

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