《Arthur Hayes Talks Bitcoin Cycles, Privacy Coin Zcash, Hyperliquid Competition Pressure, and the Evolution of Altcoin Season》 In an interview, Arthur Hayes stated that Bitcoin should no longer mechanically follow the 'four-year halving cycle.' The real driver of market trends is global credit and monetary easing. As long as countries continue fiscal expansion through printing money rather than raising taxes, the market could extend until 2027. Decentralized perpetual contract platforms will continue to erode CEX market share over the next 3-5 years, with Hyperliquid facing competition from newcomers like Lighter, offering token incentives and revenue sharing. Regarding the October 11 liquidation incident, he emphasized that high leverage and insufficient understanding of mechanisms are the main risks. Future strategies should be reconstructed with extreme volatility as the new baseline. Read the full article: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=51668