November 27, 2023
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January 29, 2024
By: Pooja
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Bitcoin's peak aligns with the two-year US treasury hitting a local low, now showing a gradual increase.
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Hayes dismisses GBTC outflows as the sole reason for Bitcoin's decline, citing a net inflow of $820 million into spot Bitcoin ETFs.
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Potential non-renewal of the Bank Term Funding Program (BTFP) could impact sentiment; decision set for March 12.
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Hayes predicts a further Bitcoin price decrease until the BTFP decision, suggesting support between $30,000 to $35,000.
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Hayes discloses purchasing March 2024 $35,000 strike puts, signaling a bearish stance.
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Anticipating a trend reversal, Hayes expects Bitcoin to rise post-BTFP decision amid potential financial crisis effects on SPX and NDX in March.