Arthur Hayes is betting that the next wave of Treasury buybacks will ignite a Bitcoin rally straight through the $100K barrier.
In the recent post on X, he says U.S. Treasury buybacks, where the government repurchases its debt, will inject more money into the market, boosting Bitcoin and other risky assets.
Hayes called these buybacks a “bazooka” for Bitcoin, warning that this could be the last time people can buy BTC for less than $100,000. Bitcoin jumped over 3% after the April 20 weekly close, hitting $87,705 — its highest price in almost three weeks.
Experts like Jamie Coutts from Real Vision say the expanding money supply (M2) is helping push Bitcoin higher. He expects that BTC will reach $132,000 this year. Even with global tensions and market ups and downs, more institutions are investing in Bitcoin, which is pushing the price upward.
Bitcoin rose to around $87,700, its highest in nearly three weeks, thanks to a weakening U.S. dollar. Analysts say the drop in the dollar, along with gold’s strong performance, is making Bitcoin more attractive as a safe investment. Some are calling it a return to the “digital gold” narrative.
Major companies from the United Kingdom and Japan continue to invest extensively in Bitcoin. This shows that institutional trust in BTC remains strong. If the current trend continues, Bitcoin could face its next big price resistance at $90, and potentially go much higher in 2025.
Economist Timothy Peterson thinks Bitcoin could hit $138,000 within three months, based on past patterns during similar market conditions. Gold is also performing well, trading about $3,400 per ounce, up nearly 30% this year, and Bitcoin appears to be following suit.
With political pressure mounting, especially from Donald Trump calling for the firing of Fed Chair Jerome Powell, the Federal Reserve’s future moves are unclear. Markets are now expecting a possible rate cut in June, which could further weaken the dollar and benefit Bitcoin.
Not everyone is fully bullish just yet. Analyst Michaël van de Poppe warned that weekend price jumps like this one can be misleading. He thinks Bitcoin might dip before truly breaking through to new highs.
Key resistance is around $91,000, and until BTC breaks that level, short-term sellers could still bring the price down.
