Bitcoin price sits at $87,013.20 as of writing, down 0.82% in 24 hours, per Coinmarketcap data.

Traders obsess over the next big number—$100,000, $110,000, or even $1 million. But Arthur Hayes, BitMEX co-founder and Maelstrom Fund CIO, isn’t watching the ticker.

In a recent YouTube interview with Kyle Chasse, he waved off price fixation. The real driver? Fiat liquidity.

According to him, dollars, euros, yen, and yuan sloshing through the system dictate Bitcoin’s fate, not some arbitrary target.

It’s a market lens that flips the script—and Hayes has the data to back it up.

Liquidity Over Hype

Hayes doesn’t care if Bitcoin hits a round number. He told Chasse it’s about “the expectation of what fiat liquidity growth has to happen to justify this price versus the reality.”

Translation: how much cash do central banks and politicians pump out? That’s the pulse of Bitcoin’s price.

On March 27, 2025, with Bitcoin trading at$87,013.20, he’s not wrong to shift focus. The coin’s dip in a day shows volatility, but Hayes sees a bigger picture—global money creation.

Hayes pointed to December 2021 for proof. Federal Reserve Chair Jerome Powell hinted at a high-interest rate shift during that month’s meeting. Bitcoin stalled. A bear market followed.

Liquidity tightened, and the bull run—peaking with a market cap over $1 trillion—fizzled out. Hayes connects the dots: less fiat flowing meant less fuel for crypto.

“How many dollars, euros, yen, and yuan are being created and destroyed” matters more than trader hype, said Arthur Hayes. It’s a history lesson with teeth.

What Next for Bitcoin Price?

Arthur Hayes isn’t shy with predictions. Earlier in this month, he pegged Bitcoin price at $110,000 before a pullback to $76,500. Why? The Fed’s pivot from quantitative tightening to easing—more dollars in play.

Long term, he’s eyeing $1 million. No timeline, no government crutch needed—just raw fiat growth. It’s all about the money supply trend.

Here’s where Hayes gets cryptic. He told Chasse Bitcoin will hit a “numerically interesting” level—think $110,000 or beyond.

Then, fiat creation will need to go “insane” to sustain it. When that happens, he’s out. “It’s probably time to sell everything,” he said. It’s not a panic call—it’s a liquidity gauge.

If central banks flood the system too fast, Hayes sees a top. For now, at $87,013.20, we’re not there yet.

Hayes’s take isn’t just contrarian—it’s practical. Traders chasing $100,000 miss the forest for the trees. Fiat liquidity offers a sharper lens.

Powell’s 2021 pivot proved it: policy shifts move markets more than memes. With Bitcoin price down 0.53% in 24 hours and Arthur Hayes forecasting $110,000 soon, his focus on cash creation could redefine how analysts track crypto.

According to Arthur Hayes, it’s less about the price tag and more about the global money machine.

The post Forget Bitcoin Price Tag—Arthur Hayes Says Liquidity Is the Real Trigger appeared first on The Coin Republic.