ECB, Canada Cut Interest Rates, Arthur Hayes Says This Could Jump-Start Crypto Market

Crypto currency coin market fluctuations different margins
  • Despite high hopes, the US has yet to cut interest rates in 2024, while Canada and the EU have already initiated reductions.
  • Arthur Hayes views the pre-emptive rate cuts by the ECB and Canada as a signal for a quicker global shift towards more accommodative monetary policies.
  • Hayes advocates for investing in Bitcoin and high-conviction cryptocurrencies, predicting a crypto market surge in response to ongoing central bank easing.

While many had high hopes for several US interest rate cuts in 2024, we are yet to see any such cuts. Meanwhile, Canada and the European Union are seeing at least some rate relief. The European Central Bank (ECB) announced late last week that it will cut the deposit rate to 3.75% from 4.0%.

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At the same time, Canada became the first G7 nation to trim borrowing costs, lowering rates from 5% to 4.75% amid three-year low inflation.

Arthur Hayes, the former CEO of BitMEX said he is bullish for the crypto market following the cuts.


Many had anticipated significant monetary policy shifts to be announced at the US Federal Reserve’s Jackson Hole Symposium in August. The pre-emptive rate cuts by the Bank of Canada and the ECB suggest a quicker global shift towards more accommodating monetary policies.

Hayes says it’s worth to particularly pay attention to the upcoming Bank of England meeting, with a potential for further rate cuts that could fuel the crypto market even more.

The G7 central banks (the Fed, European Central Bank “ECB,” Bank of Canada “BOC,” and Bank of England “BOE”) with “high” policy interest rates must cut them.

Arthur Hayes

Hayes says that with central banks likely to continue easing monetary policies, the investment climate is increasingly favourable for cryptos like Bitcoin.

Hayes: Go long Bitcoin and subsequently s**tcoins

Hayes said that he has decided to adjust his strategy due to changes in the macroeconomic landscape. For projects in the Maelstrom portfolio contemplating token launches, Hayes enthusiastically supports immediate action with a resolute “Let’s F****ng Go!”

We know how to play this game. It’s the same f****ng game we have been playing since 2009 when our Lord and Saviour Satoshi gave us the weapon to defeat the TradFi devil.

Arthur Hayes

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Additionally, he plans to redeploy his excess liquid synthetic-dollar assets, currently held in Ethena’s USD (USDe) and earning substantial APYs, into high-conviction cryptocurrencies. Hayes hints at significant potential in these “sh**coins”, predicting a resurgence of the crypto bull market that will challenge central bankers’ policies.

But suffice it to say, the crypto bull is reawakening and is about to gore the hides of profligate central bankers.

Arthur Hayes

Aaron Feuerstein

Aaron Feuerstein

Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.

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