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.

Read more: Arthur Hayes Deposits $10.67M in ETH to LRT Protocol EtherFi!

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.