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Arthur Hayes Scores 3% Profit Closing BTC Short Position

Key Points:

Arthur Hayes closed his Bitcoin short position, netting a 3% profit amidst market volatility.
Treasury Secretary Janet Yellen stated that more USD liquidity is expected if markets continue falling.
Yellen hinted that increased dollar liquidity “may” boost Bitcoin prices in the coming week.

In a recent update on X, Arthur Hayes said he successfully closed his BTC short position for a profit of 3%.

Arthur Hayes Profits from BTC Short Position

The move by Hayes, a co-founder of BitMEX, puts him in the books as one with great timing amid high market volatility. This means Hayes’ BTC short position was closed out at a profit margin that speaks volumes of his great awareness of the market and excellent trading abilities. The current move was among Hayes’s big successes, as he became a highly effective and dominant voice in cryptocurrency trading and market analysis.

Yellen’s Market Watch and Weekend Statement

According to CNBC, Treasure Secretary Janet Yellen had to say about the state of the economic climate. Yellen says that she is closely monitoring the financial markets, mainly because declines have been recorded consecutively twice. She added, “If the market continues spiralling downward this week, an unexpected tailwind could keep flowing for Bitcoin.” According to Yellen, additional U.S. dollar liquidity is expected, which might push the price up.

Yellen’s comments reflect concern about the broader economic environment and what it presages for cryptocurrency markets. The expectation of greater liquidity may help Bitcoin, as investors may look to digital assets for shelter in seesawing conventional markets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.