• Arthur Hayes projects a $1M Bitcoin price by 2028.
  • U.S. liquidity and market uncertainty may trigger a major bull run.
  • Other analysts foresee BTC reaching up to $200K in 2025.

Bitcoin is once again showing strong bullish momentum, recently crossing the $95,460 mark—its highest in two months. The crypto market’s capitalisation has soared to $1.88 trillion, while daily trading volume surged 13% to hit $28 billion. Against this promising backdrop, Arthur Hayes, CIO at Maelstrom and co-founder of BitMEX, has reiterated his bold forecast: Bitcoin could reach $1 million by 2028.

At the Token2049 conference in Dubai, Hayes pointed to rising U.S. dollar liquidity as the driving force behind what he expects will be the next major crypto bull market . He drew comparisons to the third quarter of 2022, when the U.S. responded to financial uncertainty and the FTX collapse with a $2.5 trillion liquidity injection, stabilising both traditional and crypto markets.

Hayes predicts the same tide of monetary expansion on the horizon, which may drive more capital into under-supplied digital assets such as Bitcoin.

U.S. Economic Actions Create Further Pressure

Along with the volatility, Donald Trump’s suggested tariffs on major trade partners have brought new economic uncertainty . Even as the tariffs are suspended temporarily, Hayes cautioned that this act might strain the markets.

He also implied that Federal Reserve Chairman Jerome Powell might not want to intervene if Trump is back in power. But hedge funds could jump in and purchase U.S. debt, effectively adding liquidity to the system.

From Hayes’ perspective, all these factors are setting in place for a huge Bitcoin rally, potentially to $1 million in the next three years.

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