Arthur Hayes: 'ETH Bull Market Begins When Fed Lowers Interest Rates to Below 4%'
CryptoNewsTerminal Staff17 Sep, 2024
Arthur Hayes: 'ETH Bull Market Begins When Fed Lowers Interest Rates to Below 4%'
Arthur Hayes, co-founder of BitMEX, believes that the Ethereum (ETH) bull market will begin when the US Federal Reserve (Fed) lowers interest rates to below 4%. Hayes, who was speaking at the Token2049 conference in Singapore, said that ETH is an "Internet bond" with a staking income of about 4%. When the Fed's rate cuts cause U.S. Treasury yields to fall below 4%, the ETH bull market will resume, according to Hayes. Tokens with returns exceeding U.S. Treasury yields, such as ENA, ETH, EHFI, and PENDLE, will be the winners, Hayes added. Real-world asset (RWA) tokens such as ONDO will be the losers. The U.S. Federal Reserve is scheduled to decide its benchmark interest rate on the 19th.
