Arthur Hayes: AI Drains Crypto Liquidity

Arthur Hayes told Michaël van de Poppe that AI took every spare dollar since ChatGPT launched, starving Bitcoin of fresh capital even after ETFs and institutional plumbing arrived. The former BitMEX co-founder now sits liquid, prioritizing capital preservation over accumulation while waiting for the single crisis he calls the big print. Over the past twelve months that reallocation has kept BTC price prediction models from firing and left traders forcing positions into a market with zero incremental fuel. On the four-hour chart BTC trades at $59350.32 inside a bearish structure defined by the EMA50 at $62311.4 and EMA200 at $67229.4, with MACD already through the death cross at -1014.32; price is pressing the upper Bollinger band at $63775.7 while RSI sits at 35.53, so any rejection there should drive a quick test of the lower band support at $58379.85 before the next directional move. Hayes refuses to chase the four-year cycle and instead positions for the moment maximum hate meets minimum downside, exactly the convexity setup that has defined his edge through prior liquidity shocks.