Arthur Hayes warns current BTC rebound may be temporary

BitMEX co-founder Arthur Hayes warned on X that Bitcoin's current rebound could be a temporary phase. "BTC is not yet showing a different movement from the stock prices of U.S. Software-as-a-Service (SaaS) companies," he added. "It's a situation where we can't be complacent yet." Hayes previously analyzed in a blog post earlier this year that BTC was being affected by its price correlation with SaaS companies, which had fallen significantly compared to the Nasdaq average.