Arthur Hayes, the former CEO of BitMEX, explains why the Federal Reserve's rate cuts are not providing substantial support to Bitcoin. According to Hayes, the financial flow has diverted from treasury bills into higher-yielding reverse repos, diminishing the positive impact on Bitcoin.
Hayes highlights that while many expected the rate cuts to drive more investment into Bitcoin, the reality is that investors are opting for alternatives that offer better returns, rendering the anticipated boost to Bitcoin ineffective.
This shift in money flow demonstrates that other financial instruments are currently more attractive to investors compared to Bitcoin, despite the changes in the Federal Reserve's monetary policy.
