PANews reported on July 3rd that Arthur Hayes noted that despite his optimistic long-term outlook for Bitcoin and digital assets, there might be a temporary contraction in US dollar liquidity in the short term due to Trump's "Big Beautiful Bill". He stated that the bill will raise the debt ceiling, and the Treasury may supplement the Treasury General Account (TGA) balance from $364 billion to $850 billion by issuing debt, which could trigger a liquidity contraction of $486 billion.
Hayes predicts that the market may trade sideways or experience a slight decline before Federal Reserve Chairman Jerome Powell's speech in late August. If the TGA replenishment negatively impacts US dollar liquidity, Bitcoin prices might drop to the $90,000 to $95,000 range; if the impact is limited, Bitcoin may fluctuate within the $100,000 range but will struggle to break through the historical high of $112,000.
By early September, after the debt ceiling issue is resolved and monetary creation accelerates, bulls are expected to regain market advantage. Bitcoin is anticipated to potentially rise tenfold to $1 million by 2028, while the Nasdaq 100 index might surge to 100,000 points.
