Odaily News BitMEX co-founder and former CEO Arthur Hayes said at the 2023 South Korea Blockchain Week that Bitcoin has been in a bull market for the past 6 months or so, but the market has not yet reacted, and it is estimated that it will be in 6 Respond within 12 months. Hayes believes that Bitcoin’s current bull run began on March 10, the day Silicon Valley Bank (SVB) was taken over by the FDIC. To stem a possible further collapse of the banking sector, the Fed created the Bank Term Funding Program (BTFP), which provides banks with loans for up to one year in exchange for them submitting eligible assets as collateral. Since then, the price of Bitcoin has been on the rise, currently up about 26%, Hayes said, which is why he claims the bull market started that day. (Cointelegraph)