Arthur Hayes: "Bear market from mid-April onwards...BTC halving could see a crash"

Arthur Hayes, co-founder of global cryptocurrency exchange BitMEX, wrote on his blog that he expects risky asset markets, including cryptocurrencies, to be bearish from mid to late April. "In April, we could see liquidity outflows due to the start of the US tax season, and the Fed's tightening policy could weaken markets.

However, in May, the market may turn bullish as the Fed tapers and the Treasury mobilizes funds to support the market." He added: "Bitcoin halving is one of the most bullish ingredients for the price in the medium term. However, we may see bearish price action just before or after the halving. When there is a common market sentiment that a particular issue will be positive for the price, the result is usually the opposite. Personally, I think we will see a crash in crypto prices around the halving." Finally, he concludes, "I took profits on my MEW, SOL, and NMT positions. I staked all of my profits in ENA. If I had held my profits in USDT or USDC, I would not have made any additional profits."