BitMEX Co-founder Arthur Hayes Predicts ‘Monster Altseason’ Following BTC Price Bust

Arthur Hayes, the co-founder of BitMEX, has once again ignited the crypto market with a bold prediction that a “monster altseason” is on the horizon.

This bullish forecast arrives as Bitcoin shatters previous all-time highs and Ethereum demonstrates strong upward momentum, prompting many investors to question whether a significant altcoin bull run is imminent.

Hayes’ current optimism marks a shift from his earlier, more cautious perspective. Initially, he expressed concern over the potential impact of the U.S. Treasury General Account (TGA) restocking on market liquidity.

However, the recent surge in Bitcoin’s price, coupled with substantial trading volume, has swayed Hayes to adopt a decidedly bullish outlook.

Arthur Hayes Predicts ‘Monster Altseason’

In a recent post on X, Hayes articulated his belief that both Bitcoin and altcoins are poised for substantial gains.

“BTC busted through ATH on good volume, ETH is following and will outperform, get ready for a monster altseason,” he stated.

The statement signals a firm conviction in the potential for altcoins to surge; moreover, he also expects Ethereum to reach $10,000, spurred by corporate adoption.

Additionally, several factors underpin Hayes’ altcoin forecast. He anticipates actions from former US President Donald Trump regarding tariffs and an increase in market liquidity. He also foresees a notable Bitcoin rally fueled by high global debt levels and increasing institutional demand.

However, despite Hayes’s enthusiasm, the current Altcoin Season Index registers at 30 out of 100, indicating that a full-fledged altseason has not yet emerged.

The Rationale Behind Hayes’ Bullish Flip

Hayes says the U.S. government’s new interest in stablecoins issued by banks isn’t just about helping people with money. It’s also about giving the Treasury a big source of readily available cash.

This plan would allow big banks like JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo to create stablecoins, which could free up a massive $6.8 trillion.

Initially, the idea that refilling the Treasury General Account (TGA) would reduce the amount of available money led Hayes to believe the crypto market might struggle in the short term.

With a refill target of $850 billion, the TGA was poised to absorb a significant amount of liquidity, potentially triggering a temporary market downturn.

Hayes expected this drop in money would push the crypto market down, especially hitting smaller coins. But he thought this negative feeling wouldn’t last and that altcoins would rise again soon, just as he had said they would in the summer.