Arthur Hayes dự đoán ETH sẽ đạt 10.000 USD vào cuối năm, cho rằng sự mở rộng của Fed sẽ tăng thanh khoản cho tiền điện tử

The Huoxing Finance report states that on September 3, Arthur Hayes, co-founder of BitMEX, stated in his latest article that his current macro trade "North Star" is EURJPY, expecting the exchange rate to fall from its current level of approximately 185 to 140 or lower by June next year. He believes that U.S. Treasury Secretary Scott Bessent is pushing the dollar weaker relative to the yen, while guiding capital flows back from Japan and other Asian countries through policy measures, and pressuring European assets. Hayes noted that France’s high fiscal deficit, rising government debt, and dependence on foreign capital make it the most vulnerable link in the eurozone, with French banks and government bond markets likely facing sustained outflows. Hayes further pointed out that Japanese corporations are being required to accelerate the repatriation of overseas funds, which will strengthen the yen and may lead Japanese and other Asian investors to reduce their holdings of European assets. As French government bonds and bank debt are sold off, French banks—particularly France’s global systemically important banks—may reduce their financing activities in the repo market. If French banks withdraw from part of the repo market, it could raise the cost of financing U.S. Treasuries and force hedge funds to deleverage, compelling the New York Fed to expand its repo market operations (RMP), potentially accelerating the expansion of the Fed’s balance sheet to nearly $10 billion per month. Hayes believes this series of changes will ultimately form a liquidity chain of “first tighten, then loosen”: a decline in EURJPY will serve as a leading indicator of heightened risk for French banks and impending expansion of dollar liquidity; the Fed’s increase in dollar supply via RMP and FIMA repo mechanisms may further boost global fiat liquidity. He stated that the crypto market will be one of the fastest beneficiaries of this liquidity expansion and advised investors to monitor EURJPY put options while maintaining a structural long position in Bitcoin. Hayes also reiterated his price targets for the end of 2026, expecting Ethereum (ETH) to reach $10,000, Ethena (ENA) to reach $0.50, and ETHFI to reach $2.