Arthur Hayes, the co-founder and former CEO of BitMEX who now manages a family office named Maelstrom, said the crypto bull market is “reawakening” following interest rate cuts by the Bank of Canada, then the European Central Bank this week.

On Wednesday, the Bank of Canada became the first major central bank to cut interest rates this year, reducing them a quarter-point to 4.75%. The European Central Bank followed suit yesterday, cutting rates by the same amount to 4.25%.

The central banking “fireworks” set off by these decisions will “catapult crypto out of the northern hemispheric summer doldrums,” Hayes added in his June 6 Substack post.

Could the Bank of England be next?

This wasn’t Hayes’ base case, explaining he expected the catalyst to come in August when the U.S. Federal …