Arthur Hayes： The Federal Reserve has entered the era of "fiscal dominance", and Bitcoin will usher in a new round of rise due to the restart of QE

Odaily Planet Daily News: Arthur Hayes, co-founder of BitMEX, released a long article in the form of a satirical novel, pointing out that Federal Reserve Chairman Powell is trapped in a fiscal led "forced obedience" pattern, and his shift towards loose monetary policy is inevitable. He emphasized that the Federal Reserve will be forced to restart quantitative easing (QE) to pay for the huge US fiscal deficit, and the recovery of US dollar liquidity will drive Bitcoin to strengthen. Hayes' analysis suggests that although the market is still debating the pros and cons of tariffs, what is truly worth celebrating in the cryptocurrency market is the imminent return of QE. He expects this process to begin this summer and points out that slowing down the QT pace by the Federal Reserve is a signal. He concluded that fiscal leadership means that the Federal Reserve will give up independence and prioritize ensuring that the government can finance at affordable interest rates, which is the core reason for high inflation. Faced with a new round of capital release, Bitcoin will benefit in the long term due to its "digital gold" attribute.