TechFlow reports that Arthur Hayes, founder of BitMEX, pointed out in a recent article that changes in global monetary policy could have significant impacts on the Bitcoin market. He believes the Federal Reserve and the Bank of Japan might increase dollar supply through currency swaps, leading to a weaker dollar and enhanced market liquidity. Hayes expects that if the U.S. and Japanese central banks indeed adopt this "simple and blunt" currency swap policy, it could trigger a new surge in cryptocurrency markets. Bitcoin’s price could then potentially reach $1 million, even setting a new all-time high.
Meanwhile, rising global inflationary pressures will likely boost demand for Bitcoin as an inflation hedge and safe-haven asset. China may respond to yen depreciation by weakening the yuan, which would further strengthen Bitcoin's market performance.
