According to Wu Blockchain, BitMEX co-founder Arthur Hayes stated in his latest article that the current Bitcoin drop is mainly due to the contraction of USD liquidity rather than fundamental changes. The fading of ETF and DAT capital flows has exposed the market to a negative liquidity environment again. Arthur pointed out that since July, the USD liquidity index has evaporated by approximately $1 trillion. The withdrawal of ETF arbitrage funds and the shift in DAT premium pricing have caused Bitcoin to lose its 'pseudo-buying pressure,' and the market needs to correct to realign with liquidity realities. He believes BTC may further drop to the $8,000–$8,500 range in the short term, corresponding to potential credit events and rising U.S. Treasury yields. He predicts that once U.S. stocks see a 10%–20% correction and Treasury yields rise, the Federal Reserve and Treasury Department will be forced to resume substantial liquidity injections. Following this, Bitcoin could rapidly rebound to $200,000–$250,000 by the end of the year. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=52036