Is Bitcoin’s Future in the Hands of the Fed or China? You Won’t Believe This!

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So, Arthur Hayes, right? Not exactly losing his mind over Bitcoin‘s little tantrum. Nope, he’s got his eyes on the prize—two big players that might just give Bitcoin a little nudge back up: the U.S. Federal Reserve or China’s central bank. Because, you know, nothing says “invest wisely” like relying on central banks to save your crypto dreams. 🙄

According to our buddy Arthur, if the Fed doesn’t loosen its grip, then China’s yuan is going to take a nosedive, and guess where all that cash is headed? Yep, straight into Bitcoin. It’s like a game of musical chairs, but with money and a lot more anxiety. 🎶💸

Bitcoin’s Fate: A Central Bank Soap Opera

In a series of posts on X—because who needs a blog when you can tweet your way to fame?—Hayes claims that either the Fed or the People’s Bank of China (PBOC) is going to be the one to pull the trigger on the next crypto explosion. Currency manipulation, capital flight, monetary easing—sounds like a fun night out, right? 🍷

He’s got this whole historical trend thing going on, saying that when the yuan takes a dive, Chinese investors flock to Bitcoin like it’s the last slice of pizza at a party. “It worked in 2013, 2015, and can work in 2025,” he says. Sure, let’s just keep betting on history like it’s a sure thing. What could go wrong? 🤷‍♂️

And then there’s Ben Zhou, the CEO of Bybit, chiming in with, “Whenever RMB drops, a lot of Chinese capital flows into BTC. Bullish for BTC.” Wow, thanks for that groundbreaking insight, Ben. Really breaking the mold here. 🙌

Now, the yuan just decided to weaken past a psychological threshold of 7.20 per dollar. It’s like a bad breakup—everyone’s talking about it, and it’s just awkward. The PBOC is easing its grip, and suddenly, the internet is buzzing. One guy even said, “CNY deval is on like Donkey Kong!” Because nothing says financial analysis like a video game reference. 🎮

But, of course, not everyone is on the same page. Some crypto enthusiasts are like, “Eh, how much will this really matter?” while others are eyeing gold like it’s the new hot date. But hey, a lot of folks are still riding the Hayes optimism train. “Don’t sleep in China, fam,” one user wrote. Because nothing says “invest wisely” like a late-night tweet. 💤

What a Week, Right?

Bitcoin has been on a wild ride lately. Last week, it went from $81,500 to $88,500 and then crashed down to $74,000. It’s like watching a soap opera, but with more drama and fewer commercial breaks. 📉

Things got spicy when President Trump decided to escalate his trade war with China, threatening a 50% tariff on imports. Because why not? Let’s just throw more chaos into the mix! Rumors of a 90-day delay on those taxes sent prices up for a hot second, but when that was debunked, Bitcoin took another dive. But Arthur? He’s unfazed. Even as Bitcoin dipped below his “support” level, he’s out there telling everyone to buy the dip. Classic. 🙃

Right now, BTC is just shy of $79,000, having gained a whopping 4.2% in the last 24 hours. But let’s not get too excited; it’s still down 8.1% over the past month. It’s like a rollercoaster that just won’t stop. And while it dipped 5.3% in the last week, it’s still doing slightly better than the broader crypto market, which is down nearly 9%. So, you know, there’s that. 🎢

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2025-04-08 14:56