report: BitMEX co-founder Arthur Hayes published a long article, using a satirical novel style to point out that Federal Reserve Chairman Powell is caught in a fiscally-dominated "forced submission" pattern, and a shift to loose monetary policy is inevitable. He emphasized that the Federal Reserve will be forced to restart quantitative easing (QE) to pay for the massive US fiscal deficit, and the recovery of US dollar liquidity will drive Bitcoin's strength. Hayes analyzed that although the market is still debating the pros and cons of tariffs, what the crypto market should truly celebrate is the imminent return of QE. He predicts this process will begin in the summer and notes that the Federal Reserve's slowdown of QT is a signal. He concluded that fiscal dominance means the Federal Reserve will abandon its independence, prioritizing ensuring the government can finance at affordable rates, which is the core reason for persistent high inflation. Facing a new round of fund release, Bitcoin will benefit long-term due to its "digital gold" attributes.