AI Spending Craze Kept Bitcoin From Climbing: Hayes
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://telegram.me/cryptosignalalert Visit – https://play.google.com/store/apps/details?id=com.freecryptosignals.app Hayes believes that AI's growing demand for capital has become a major headwind for bitcoin. BTC has been under tremendous pressure as it struggles below $63,000. Arthur Hayes said he believes the AI boom has absorbed a significant portion of newly created dollar liquidity, which, according to the BitMEX co-founder, explains why bitcoin has struggled to rally further despite a broader expansion in money supply. In a recent blog post, Hayes revisited his long-held belief that crypto markets are largely driven by fiat liquidity and acknowledged that he may have overlooked an important factor: where that liquidity was actually flowing. Bitcoin vs. AI Bitcoin should have performed much better given the increas...