Arthur Hayes: If the Federal Reserve intervenes in the yen, printing money will be extremely bullish for Bitcoin

BitMEX co-founder Arthur Hayes posted that if the relevant news is true, it would be "extremely bullish" for Bitcoin (BTC). He analyzed that the logical premise is: the Federal Reserve creates bank reserves through "money printing," then sells dollars to buy yen, thereby indirectly intervening in the yen exchange rate.

Hayes pointed out that if the Federal Reserve is indeed manipulating the yen, its balance sheet will show growth in the "foreign currency denominated assets" category, which can be verified in the H.4.1 report published weekly. This viewpoint stems from the recent largest single-day increase in the yen in nearly six months, with the market speculating that Japanese authorities may be preparing to intervene in the exchange rate, while some traders claim that the New York Fed has conducted "rate checks" with major banks, raising associations with the Federal Reserve's involvement.