Arthur Hayes Claims Bitcoin Bull Market Began in Late February, Predicts Faster Gains Above $90,000

Mars Finance reports that Arthur Hayes, co-founder of BitMEX, stated in his latest blog post that the Bitcoin bull market truly began on February 28 with the outbreak of war between the U.S. and Iran. AI capital expenditures, war-related spending, and physical infrastructure investments by nations to secure supply chains will drive unchecked expansion of fiat credit, continuing to benefit Bitcoin. Hayes noted that Bitcoin has rebounded from its early-year low of $60,000 and reaffirmed that breaking its previous high of $126,000 is “inevitable.” He believes the current scale of AI capital spending is unprecedented, with central banks like the Federal Reserve printing more money. As trust in U.S. dollar assets declines, nations will shift toward investing in physical infrastructure and commodity reserves, further fueling fiat expansion. Hayes expects Bitcoin’s upward momentum to accelerate after surpassing $90,000 and has increased his Maelstrom portfolio’s risk exposure to the maximum. Besides Hyperliquid and Zcash, Hayes’s next most favored altcoin is NEAR, which he will explain in a follow-up article for how its privacy narrative and Intent architecture generate positive cash flows for the protocol. He concluded by stating that while we are currently in a bull market, there will eventually be a time to sell—and it is not now.