Bitcoin is currently "dancing" when the pace of dollar issuance changes. The monetary "mandarins" who hold power in the US Federal Reserve and the US Treasury Department determine the number of dollars supplied to global financial markets.

✍️In his new essay, Arthur Hayes asks the question, will the crypto market be able to continue its growth in 2025, despite the possible failures in the implementation of the Trump administration's ambitions?

📈After a significant growth in 2022-2024, caused by a reduction in reverse RRP volumes and an increase in liquidity, the cryptocurrency market entered the new year with high expectations. However, these expectations may turn out to be too high: politicians rarely manage to implement reforms quickly and effectively. It is important to understand that the real support for cryptocurrencies now comes not so much from political will, but from the monetary liquidity provided by the US Federal Reserve and the US Treasury Department.

🔍According to his assessment, liquidity may increase in the first quarter of 2025 due to the balances in the Treasury General Account and the further reduction in RRP volumes. The combined effect will support the growth of crypto asset prices for some time.#nfpcryptoptoimpact