BitMEX co-founder Arthur Hayes makes a bold prediction: a “monster altseason” is on the horizon. With Bitcoin soaring past $118,000 and Ethereum closing in on the $3,000 mark, Hayes believes a powerful rally across altcoins is imminent.
Initially cautious due to the U.S. Treasury General Account (TGA) restocking plan, Hayes has now shifted his stance. In a recent post on X, he wrote,
“BTC busted through ATH on good volume, ETH is following and will outperform — get ready for a monster alt szn.”
Previously, he warned that the TGA’s $850 billion refill target could drain liquidity from the market. However, with Bitcoin breaking new highs and Ethereum gaining strength, Hayes now views this as a short-term hurdle.
Hayes believes Ethereum is poised to outperform, potentially reaching $10,000, driven by increasing corporate adoption and strong on-chain metrics. With ETH gaining institutional interest and showing signs of bullish divergence, the setup for an explosive rally looks more probable than ever.
In his blog post “Quid Pro Stablecoin,” Hayes argues that bank-issued stablecoins could unlock $6.8 trillion in liquidity, acting as a “liquidity bazooka” for the U.S. Treasury.
Major banks like JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are expected to accelerate this stablecoin adoption. While the TGA refill may temporarily tighten liquidity, Hayes sees it as a blip in a larger bullish cycle.
Currently, the Altcoin Season Index is at 30/100 — far from confirming a full-blown altseason. Still, Hayes stands by his earlier May prediction that a summer rally would unfold. He sees growing momentum and believes the breakout in BTC and ETH will soon spread to major altcoins like Solana, Cardano, and Avalanche.
Adding fuel to the fire, Hayes mentioned the Maelstrom Fund is going all-in, citing the market’s anticipation of Donald Trump’s possible return and expected tariff policies, which could further boost market liquidity.
Arthur Hayes has a strong track record in market timing, and his confidence has caught the attention of investors across the crypto space. With Bitcoin and Ethereum leading the charge, and new liquidity drivers emerging, this could be the beginning of a major altcoin run.
In his “Quid Pro Stablecoin” essay, Hayes argues that bank-issued stablecoins could unlock $6.8 trillion in liquidity for the U.S. Treasury. This “liquidity bazooka” would come from major banks converting dormant deposits into on-chain dollars (stablecoins) which can then be recycled into Treasury bills.
Hayes also cites the market’s anticipation of Donald Trump’s possible return to power and expected tariff policies as contributing factors. These political developments could further boost market liquidity, adding fuel to the potential “monster altseason.”
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