Now is not good time for altcoin acquisition, says BitMEX co-founder

Arthur Hayes, co-founder of crypto exchange BitMEX, shared via X that he has been going long on Bitcoin (BTC) and will continue this investment strategy. Hayes noted that while some altcoins are "getting in our strike zone," BTC's dominance is soaring towards 70%. Therefore, he reckons now is not a good time to buy most altcoins. The only way to revitalize market liquidity is for the U.S. Federal Reserve (Fed) to eventually taper its bond purchases, said Hayes.