In his view, the next big leg up won’t be driven by hype, but by governments scrambling to contain economic instability.
Hayes argues that central banks are poised to return to money-printing tactics as macro pressures intensify. He likened the moment to late 2022, when markets rallied in response to easing conditions. Back then, Bitcoin multiplied sixfold as the U.S. Treasury injected trillions into the financial system.
Hayes says a similar pattern is emerging. With Scott Bessent now overseeing the U.S. Treasury, he expects a comparable playbook to unfold—massive liquidity injections aimed at softening volatility and restoring market confidence. He pointed to April 9 as a potential inflection point, suggesting that it could mark the beginning of a sustained crypto upswing.
But it’s not just Bitcoin that Hayes is watching. He predicts a transition in market behavior as BTC approaches the $150,000 range. At that point, he expects a wave of capital to rotate out of Bitcoin and into alternative digital assets, lowering BTC’s dominance in the process.
Bitcoin dominance—the percentage of total crypto market capitalization represented by BTC—recently hovered near 65%, a level Hayes believes could climb toward 70% before altcoins take the spotlight again.
At press time, Bitcoin trades around $94,000, with short-term movement muted. However, if Hayes’ thesis plays out, this calm could soon give way to a rapid realignment in capital flows across the crypto space.
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