Hayes says ETH may lead major altcoin gains in current crypto rebound

BitMEX co-founder Arthur Hayes said ETH is likely to outperform all other major altcoins in the current cryptocurrency market rebound. Speaking on the Altcoin Daily YouTube channel, Hayes said ETH has the largest developer community and DeFi ecosystem, adding that if Bitcoin reaches $200,000 within the next five years, ETH could climb as high as $30,000 and BTC dominance could fall to 40%. Hayes also said BTC could reach $126,000 by year-end, while a policy pivot by the U.S. Federal Reserve could open the way for a sharper rally. He added that excessive U.S. government debt and Treasury issuance would ultimately lead to Fed liquidity provision, and argued BTC serves as a refuge from declining fiat currency values. At the same time, Hayes said the CLARITY Act, a U.S. crypto regulatory bill now being pushed in the United States, could instead hamper innovation.