Arthur Hayes calls CLARITY Act 'nonsense' as bitcoin tops $80,000
- —Bitcoin rose to $81,253 from $76,400 a day earlier
- —$192 million in positions were liquidated in an hour, of which $183 million were shorts
- —The Fed raised rates by 25 bps to 3.75-4% on September 16
- —The Senate rejected the CLARITY Act 49-50 on September 15
Why it matters: Hayes puts money flows above regulation: rising rates support demand for risk assets, though his own forecast allows for a drop to $50,000.
Source: Bitcoin.com