Core Viewpoint - Arthur Hayes, co-founder of BitMEX, suggests that the cryptocurrency market will enter a "only up" mode once the U.S. Treasury General Account (TGA) reaches its target of $850 billion, with the current balance at $807 billion [1] Group 1 - The TGA balance is currently at $807 billion, indicating a significant amount of liquidity in the market [1] - Hayes believes that once the funds are fully withdrawn, liquidity will flow back into the market, potentially driving prices higher [1] - André Dragosch, Head of Research at Bitwise Europe, argues that net liquidity has a weak correlation with Bitcoin [1]