Arthur Hayes pinned institutional demand for BTC on sovereign bond market issues.halving, and the market is full of bold projections and debate. On one end, a section of the market sees the halving as a bullish case for BTC price action.But most analysts agree on one thing — each halving is unique and different.emphasized the past two cycles’ uniqueness. The statement read,The past two bull markets saw prices increase 113x and 19x. Prices have increased 4x.
Additionally, the bears maintain that the post-halving will affect most miners and could make the network less secure. Interestingly, BitMEX founder and CIO of crypto fund Maelstrom, Arthur Hayes, leans toward the neutral view.stated“Why are institutional investors investing in Bitcoin? Because there’s a whole narrative about the destruction of the sovereign bonds market, which started basically as the Fed started raising rates in March 2022. So, there’s a reason people allocate to Bitcoin, not just because Bitcoin exists.
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