June 20 (Cointime) - According to BitMEX co-founder Arthur Hayes, the impact of the US Treasury Dept issuing treasury bills on the crypto and stock markets is not as significant as expected. He believes that risk assets like Bitcoin will soon start to rally. Hayes has created a custom US dollar liquidity index to track how the TGA refill will affect the US dollar liquidity.

He plans to buy crypto as long as the net liquidity index remains positive and predicts that the US Treasury will slow down T-bills or debt issuance once the TGA balance is more than $450 billion.

The crypto market has continued its upside momentum with Bitcoin rebounding from the expected $24,800 support level and currently trading at $26,796.