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Analysis

Arthur Hayes "US banks not strong...BTC to rise in case of bailout"

Arthur Hayes, co-founder of global crypto exchange BitMEX, tweeted on X (formerly Twitter): "Federal Reserve (Fed) Chairman Jerome Powell insists that the US economy and banks are still quite strong, but the share price of New York Community Bank (NYCB) the day before says otherwise. Who's right,...

Arthur Hayes "US banks not strong...BTC to rise in case of bailout"

Arthur Hayes, co-founder of global crypto exchange BitMEX, tweeted on X (formerly Twitter): "Federal Reserve (Fed) Chairman Jerome Powell insists that the US economy and banks are still quite strong, but the share price of New York Community Bank (NYCB) the day before says otherwise. Who's right, the markets or the central bank?" he said. On the New York Stock Exchange, NYCB shares closed down 10.8% on the previous trading day. Arthur Hayes continued, "A bailout is coming. Bitcoin will go to $1 million." Earlier in the day, he said, "If NYCB and some other banks start to see share price declines due to poor performance, a bailout will follow. In that case, we could see a bitcoin rally like we saw in March last year.

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