BitMEX Co-Founder Predicts Monster Altcoin Season Amid Tariff Policy Shifts

Arthur Hayes, the co-founder of BitMEX, has expressed his bullish sentiment towards the upcoming altcoin season. In a recent statement, Hayes declared that the market is anticipating a significant shift in tariff policies, which has led to a surge in optimism. As a result, Maelstrom Fund, an investment vehicle associated with Hayes, is reportedly "backing up the truck," indicating a substantial investment in the altcoin market.

Hayes' optimism stems from the recent breakout of Bitcoin, which has surpassed its all-time high. This development has led Hayes to predict that Ethereum and other altcoins will outperform Bitcoin in the coming months. According to Hayes, the market is currently in a state of euphoria, with investors eager to capitalize on the potential gains in the altcoin market.

The Maelstrom Fund, which is known for its aggressive investment strategies, is reportedly preparing to invest heavily in the altcoin market. This move is seen as a vote of confidence in the altcoin market, which has been struggling to gain traction in recent months. The fund's decision to invest heavily in the altcoin market is expected to have a significant impact on the market, as it is one of the largest investment vehicles in the cryptocurrency space.

Hayes' bullish sentiment towards the altcoin market is not without its risks. The altcoin market is known for its volatility, and investors should be prepared for significant price fluctuations. However, Hayes' track record as a successful investor in the cryptocurrency space has given him a reputation as a reliable source of market insights. His prediction of a monster altcoin season is likely to attract the attention of investors and traders alike, who are eager to capitalize on the potential gains in the altcoin market.

In recent commentary, Hayes acknowledged the potential for a short-term dip in Bitcoin to around $90,000 if Treasury-related liquidity tightening materializes. However, he sees that as temporary within a larger thesis of structurally rising asset prices. He forecasted Bitcoin reaching $1 million and the Nasdaq 100 multiplying fivefold by 2028. Hayes emphasized the importance of front-running fiscal-led liquidity waves, warning: “You will miss out on Bitcoin pumping 10x to $1 million or the Nasdaq 100 spiking 5x to 100,000 by 2028.” Stablecoin adoption and Treasury policies, he argued, are already setting the foundation for this shift.

Hayes previously flagged liquidity risks tied to the U.S. Treasury General Account (TGA) refill, but now sees the market absorbing those pressures. “I was slightly bearish in my last essay due to TGA refill. What changed? BTC busted through ATH on good volume. ETH is following and will outperform,” he opined, emphasizing: “Get ready for a monster alt szn.”

Hayes attributed the shift in risk appetite in part to investor expectations that President Donald Trump may soften his stance on trade, writing: “Mrkt thinks Trump will TACO on tariffs, so fuck it: Maelstrom Fund is backing up the truck!” The post signals a decisive pivot by Maelstrom toward increased crypto exposure across the board—not just in Bitcoin. The alignment of macro expectations and bullish technical indicators suggests broad participation is likely, with altcoins positioned to benefit from renewed retail and institutional interest during the next leg of the cycle.