Arthur Hayes: BTC $58,000 is the Cycle Bottom, ETH is the Top Directional Bet

Arthur Hayes, founder of BitMEX and Maelstrom, identified $58,000 as the cycle bottom for Bitcoin, driven by liquidity expansion and capital misallocation in AI. He views Ethereum as his largest directional position, citing its RWA narrative and Lindy effect. Hayes also expressed optimism for Ethena, predicting a 5x increase, while exiting his Hyperliquid position due to a loss of asymmetry.