Arthur Hayes Says Bitcoin May Stay Weak Before Balance-Sheet Expansion

BitMEX co-founder Arthur Hayes said dollar liquidity is recovering but expects Bitcoin to remain weak until the Federal Reserve or banks begin expanding their balance sheets, BlockBeats reported on Nov. 3.

USDLIQ U Index snapshot

Hayes’s chart put the USDLIQ U Index at approximately 32.71 million, up about 1.406 million year to date, or 4.49%. The chart showed a high near 32.9 million and a low near 31.27 million.

The liquidity view and Bitcoin outlook are Hayes’s stated opinion, relayed by BlockBeats. The index figures came from the chart attached to his post and are not an independent market forecast.

Source: BlockBeats English report, published Nov. 3, 2026. Chinese source.