Arthur Hayes: From now until Powell's speech at the Jackson Hole Fed meeting in August, the market will consolidate sideways to slightly lower levels

According to Golden Finance, BitMEX co-founder Arthur Hayes stated that from now until August, during Jerome Powell's speech at the Jackson Hole Fed meeting, the market will consolidate sideways to a slightly lower level. If TGA supplementation is proven to be detrimental to US dollar liquidity, then the downside space is between $90000 and $95000. If the supplement proves meaningless, Bitcoin will hover around $100000 instead of breaking through its historical high of $112000. I have a feeling that Powell will announce the end of quantitative tightening policies and/or other seemingly ordinary but significant banking regulatory reforms. By early September, the debt ceiling will be raised, TGA will be largely replenished, and the Republican Party will focus on distributing benefits so that they do not suffer a blow from Mamdani in their own district in November 2026. At that time, the green cross star (K-line) will pierce through the bears driven by the surge in currency issuance.