{"id":625803,"date":"2024-06-21T14:00:06","date_gmt":"2024-06-21T14:00:06","guid":{"rendered":"https:\/\/ktsl888.com\/?p=625803"},"modified":"2024-06-21T10:39:59","modified_gmt":"2024-06-21T10:39:59","slug":"bitcoin-drops-below-64000-arthur-hayes-buy-the-dip","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-drops-below-64000-arthur-hayes-buy-the-dip\/","title":{"rendered":"Bitcoin Drops Below $64,000, But Arthur Hayes Advocates &#8216;Buy The Dip&#8217;"},"content":{"rendered":"<p>Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564. This drop represents a 2.5% decrease in the last 24 hours and an overall 12% decline over the past two weeks. Amidst this downward trend, Arthur Hayes, the co-founder of BitMEX, is not only maintaining his bullish stance on Bitcoin but actively encouraging investment, advocating a strategy to &#8216;buy the dip.&#8217; His optimism and advice are deeply rooted in an <a href=\"https:\/\/cryptohayes.substack.com\/p\/shikata-ga-nai\" target=\"_blank\" rel=\"noopener nofollow\">analysis<\/a> of global economic conditions and central bank policies, which he believes will favor cryptocurrencies like Bitcoin.<\/p>\n<h2>Buy The Bitcoin Dip?<\/h2>\n<p>Hayes\u2019s insights draw attention to the aggressive monetary policies implemented by central banks, particularly the US Federal Reserve. These policies, including<a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rejects-70k-2\/\" target=\"_blank\" rel=\"noopener \"> rapid interest rate hikes<\/a>\u2014the most aggressive since the 1980s\u2014were initiated in response to rising inflation in the United States. The hikes have had a profound impact on the bond market, particularly affecting<a href=\"https:\/\/ktsl888.com\/news\/prepare-for-impact-market-expert-says-biggest-disaster-in-crypto-yet-to-come\/\" target=\"_blank\" rel=\"noopener \"> US Treasuries (USTs)<\/a>, which saw a decrease in prices due to the rising yields. Japanese banks, in search of yield amid domestically near-zero interest rates, had heavily invested in these USTs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/3-reasons-buy-ethereum-1-bitcoin-only-bitwise-cio\/\" target=\"_blank\" rel=\"noopener \">3 Reasons To Invest In Ethereum, 1 To Stay Bitcoin-Only: Bitwise CIO<\/a><\/div>\n<p>The strategy backfired when US rates rose, leading to significant paper losses for these banks. Hayes specifically points to the situation with Norinchukin Bank, which was compelled to sell off $63 billion in foreign bonds, mostly USTs, to reduce these losses. This scenario underscores a broader <a href=\"https:\/\/ktsl888.com\/news\/crypto-bull-market-returns-arthur-hayes\/\" target=\"_blank\" rel=\"noopener \">trend among Japanese banks<\/a>, which may need to continue offloading USTs and other foreign bonds as they adjust to the new economic realities imposed by US monetary policy.<\/p>\n<p>Hayes argues that these developments have critical implications for the crypto market, particularly Bitcoin. He notes that the responses by central banks to stabilize financial markets\u2014such as the Federal Reserve&#8217;s decision to provide a blanket backstop in March 2023 following a series of bank failures\u2014indirectly benefit cryptocurrencies. This intervention led to a surge in Bitcoin&#8217;s price, reinforcing its status as a viable alternative investment during times of financial instability.<\/p>\n<p>Moreover, Hayes points out the operational details of the FIMA repo facility, which was expanded by the Fed to bolster liquidity. He explains, &#8220;A rise in the FIMA repo facility indicates an addition of dollar liquidity to the global money markets. Y\u2019all know what that means for Bitcoin and crypto \u2026 which is why I thought it necessary to alert readers about another avenue of stealth money printing.&#8221; This mechanism allows central banks to exchange their holdings of USTs for dollars, increasing the dollar supply without flooding the market with bonds and potentially driving up yields.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/german-governments-bitcoin-dump-surpasses-195m-as-selling-spree-persists\/\" target=\"_blank\" rel=\"noopener \">German Government\u2019s Bitcoin Dump Surpasses $195M As Selling Spree Persists<\/a><\/div>\n<p>The implications for Bitcoin and other cryptocurrencies are profound, according to Hayes. He suggests that as central banks, particularly the Bank of Japan, might use these facilities to manage their exposure to USTs, the resultant increase in dollar liquidity could drive investors towards cryptocurrencies. This movement is seen as a hedge against potential inflation and currency debasement resulting from these monetary expansions.<\/p>\n<p>Hayes vividly describes the effect of these <a href=\"https:\/\/ktsl888.com\/news\/what-is-macro-crypto-summer-dont-miss-out-says-expert\/\" target=\"_blank\" rel=\"noopener \">macroeconomic maneuvers<\/a> on the crypto market: &#8220;Just as many began to wonder where the next jolt of dollar liquidity would come from, the Japanese banking system dropped Origami cranes composed of crisply folded dollar bills upon the laps of crypto investors. This is just another pillar of the crypto bull market. The supply of dollars must increase to maintain the current Pax Americana dollar-based filthy financial system.&#8221;<\/p>\n<p>In a rallying call to the crypto community, Hayes concludes, &#8220;Say it with me, \u2018Shikata Ga Nai\u2019, and buy the fucking dip!&#8221; Through this declaration, he underscores his belief that despite the volatile market conditions, the underlying economic and monetary developments are creating favorable conditions for Bitcoin&#8217;s growth. His analysis suggests that savvy investors should view the current price drops as buying opportunities, given the broader economic backdrop that he believes will continue to propel interest and investment in cryptocurrencies.<\/p>\n<p>At press time, BTC traded at $64,159.<\/p>\n<figure id=\"attachment_625818\" aria-describedby=\"caption-attachment-625818\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-625818 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?resize=3628%2C1675\" alt=\"Bitcoin price\" width=\"3628\" height=\"1675\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=3628 3628w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=1140 1140w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-21_12-08-33.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-625818\" class=\"wp-caption-text\">BTC price dips below $64,000, 1-day chart | Source:<a href=\"https:\/\/www.tradingview.com\/x\/WlfScmLA\/\" target=\"_blank\" rel=\"noopener nofollow\"> BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from Forkast News, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564. This drop represents a 2.5% decrease in the last 24 hours and an overall 12% decline over the past two weeks. Amidst this downward trend, Arthur Hayes, the co-founder of BitMEX, is not only maintaining his bullish stance on Bitcoin but actively encouraging investment, advocating a strategy to &#8216;buy the dip.&#8217; His optimism and advice are deeply rooted in an analysis of global economic conditions and central bank policies, which he believes will favor cryptocurrencies like Bitcoin. Buy The Bitcoin Dip? Hayes\u2019s insights draw attention to the aggressive monetary policies implemented by central banks, particularly the US Federal Reserve. These policies, including rapid interest rate hikes\u2014the most aggressive since the 1980s\u2014were initiated in response to rising inflation in the United States. The hikes have had a profound impact on the bond market, particularly affecting US Treasuries (USTs), which saw a decrease in prices due to the rising yields. Japanese banks, in search of yield amid domestically near-zero interest rates, had heavily invested in these USTs. Related Reading: 3 Reasons To Invest In Ethereum, 1 To Stay Bitcoin-Only: Bitwise CIO The strategy backfired when US rates rose, leading to significant paper losses for these banks. Hayes specifically points to the situation with Norinchukin Bank, which was compelled to sell off $63 billion in foreign bonds, mostly USTs, to reduce these losses. This scenario underscores a broader trend among Japanese banks, which may need to continue offloading USTs and other foreign bonds as they adjust to the new economic realities imposed by US monetary policy. Hayes argues that these developments have critical implications for the crypto market, particularly Bitcoin. He notes that the responses by central banks to stabilize financial markets\u2014such as the Federal Reserve&#8217;s decision to provide a blanket backstop in March 2023 following a series of bank failures\u2014indirectly benefit cryptocurrencies. This intervention led to a surge in Bitcoin&#8217;s price, reinforcing its status as a viable alternative investment during times of financial instability. Moreover, Hayes points out the operational details of the FIMA repo facility, which was expanded by the Fed to bolster liquidity. He explains, &#8220;A rise in the FIMA repo facility indicates an addition of dollar liquidity to the global money markets. Y\u2019all know what that means for Bitcoin and crypto \u2026 which is why I thought it necessary to alert readers about another avenue of stealth money printing.&#8221; This mechanism allows central banks to exchange their holdings of USTs for dollars, increasing the dollar supply without flooding the market with bonds and potentially driving up yields. Related Reading: German Government\u2019s Bitcoin Dump Surpasses $195M As Selling Spree Persists The implications for Bitcoin and other cryptocurrencies are profound, according to Hayes. He suggests that as central banks, particularly the Bank of Japan, might use these facilities to manage their exposure to USTs, the resultant increase in dollar liquidity could drive investors towards cryptocurrencies. This movement is seen as a hedge against potential inflation and currency debasement resulting from these monetary expansions. Hayes vividly describes the effect of these macroeconomic maneuvers on the crypto market: &#8220;Just as many began to wonder where the next jolt of dollar liquidity would come from, the Japanese banking system dropped Origami cranes composed of crisply folded dollar bills upon the laps of crypto investors. This is just another pillar of the crypto bull market. The supply of dollars must increase to maintain the current Pax Americana dollar-based filthy financial system.&#8221; In a rallying call to the crypto community, Hayes concludes, &#8220;Say it with me, \u2018Shikata Ga Nai\u2019, and buy the fucking dip!&#8221; Through this declaration, he underscores his belief that despite the volatile market conditions, the underlying economic and monetary developments are creating favorable conditions for Bitcoin&#8217;s growth. His analysis suggests that savvy investors should view the current price drops as buying opportunities, given the broader economic backdrop that he believes will continue to propel interest and investment in cryptocurrencies. At press time, BTC traded at $64,159. Featured image from Forkast News, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":625807,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[230,428,656,679,680,1122],"class_list":["post-625803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-arthur-hayes","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-analysis","tag-btc-price"],"acf":[],"yoast_head":"\n<title>Bitcoin Drops Sub-$64,000: Arthur Hayes Advocates &#039;Buy The Dip&#039;<\/title>\n<meta name=\"description\" content=\"Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564, but Arthur Hayes says &quot;buy the dip.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/ktsl888.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Drops Sub-$64,000: Arthur Hayes Advocates 'Buy The Dip'","description":"Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564, but Arthur Hayes says \"buy the dip.\"","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-drops-below-64000-arthur-hayes-buy-the-dip\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Drops Sub-$64,000: Arthur Hayes Advocates 'Buy The Dip'","og_description":"Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564, but Arthur Hayes says 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