Key Takeaways
- Arthur Hayes says Treasury buybacks may trigger Bitcoin's next rally.
- Jamie Coutts projects Bitcoin may reach $132,000 by year-end on money supply growth.
- Bitcoin rose past $87,700 amid US Dollar weakness and growing institutional interest.
Bitcoin could soon breach the $100,000 mark, according to Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, who points to incoming US Treasury buybacks as a key catalyst.
Hayes warned followers on X that this may be their “last chance” to buy Bitcoin below six figures.
Understanding treasury buybacks
Treasury buybacks involve the US government repurchasing its outstanding bonds to manage federal debt, boost market liquidity, or stabilize interest rates.
These measures typically inject liquidity into the financial system, benefiting risk assets such as Bitcoin.
Market performance & analysis
Hayes’ comments come as Bitcoin briefly surged past $87,700 for the first time in nearly three weeks, buoyed by a weakening US dollar.
The US Dollar Index fell to its lowest point since March 2022.
Bitwise’s European research head André Dragosch commented:
Looks like Bitcoin is pumping on continued Dollar weakness.
Additional expert projections
Jamie Coutts, chief Bitcoin analyst at Real Vision, echoed the bullish sentiment, projecting Bitcoin could hit $132,000 this year, driven by growth in the M2 money supply.
However, he noted that unresolved trade tensions between the US and China could limit near-term appetite from investors.
Supporting market factors
Further supporting Bitcoin’s strength is its rising correlation with gold and ongoing institutional adoption.
Ryan Lee of Bitget Research pointed to strong trading volumes and technical signals, forecasting a potential test of the $90,000 resistance level.
