Arthur Hayes pointed out in his latest article that although he is optimistic about the long-term performance of Bitcoin and digital assets, there may be a temporary contraction in US dollar liquidity in the short term due to Trump's "Great Beauty Act". He stated that the bill will raise the debt ceiling, and the Ministry of Finance may supplement the Treasury Account (TGA) balance from $364 billion to $850 billion by issuing debt, which could trigger a liquidity contraction of $486 billion.
Hayes predicts that the market may experience a sideways or slight decline before Federal Reserve Chairman Jerome Powell's speech at the end of August. If TGA supplements have a negative impact on US dollar liquidity, Bitcoin prices may drop to the range of $90000 to $95000; If the impact is limited, Bitcoin may remain volatile within the $100000 range, but it will be difficult to break through the historical high of $112000.
It is expected that by early September, after the debt ceiling issue is resolved, market bulls will regain their advantage as currency creation accelerates. It is expected that Bitcoin may rise tenfold to $1 million by 2028, while the Nasdaq 100 index may soar to 100000 points.
