{"id":208375,"date":"2026-02-19T22:04:54","date_gmt":"2026-02-19T13:04:54","guid":{"rendered":"https:\/\/cryptonews.com\/kr\/news\/arthur-hayes-shares-two-scenarios-for-bitcoin-price-calling-for-a-major-crypto-rally\/"},"modified":"2026-02-19T22:04:17","modified_gmt":"2026-02-19T13:04:17","slug":"arthur-hayes-shares-two-scenarios-for-bitcoin-price-calling-for-a-major-crypto-rally","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/kr\/news\/arthur-hayes-shares-two-scenarios-for-bitcoin-price-calling-for-a-major-crypto-rally\/","title":{"rendered":"\uc544\uc11c \ud5e4\uc774\uc988, \ube44\ud2b8\ucf54\uc778 \uc0c1\uc2b9 \ubc30\uacbd\uacfc \ub450 \uac00\uc9c0 \uac00\uaca9 \uc2dc\ub098\ub9ac\uc624 \ubd84\uc11d"},"content":{"rendered":"<p class=\"wp-block-paragraph\">\ube44\ud2b8\uba55\uc2a4 \uacf5\ub3d9 \uc124\ub9bd\uc790 \uc544\uc11c \ud5e4\uc774\uc988\uac00 \uc554\ud638\ud654\ud3d0 \uc2dc\uc7a5\uc758 \ub300\uaddc\ubaa8 \ubc18\ub4f1\uc744 \uc804\ub9dd\ud588\ub2e4. \ud5e4\uc774\uc988\ub294 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uac00 \uc8fc\ub3c4\ud558\ub294 \uc57d 5,720\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc720\ub3d9\uc131 \uacf5\uae09\uc774 \uc774\ubc88 \ub7a0\ub9ac\uc758 \ud575\uc2ec \ub3d9\ub825\uc774 \ub420 \uac83\uc73c\ub85c \ubd84\uc11d\ud588\ub2e4. <\/p><p class=\"wp-block-paragraph\">\uc7ac\ubb34\ubd80 \uc77c\ubc18\uacc4\uc815(TGA) \uc794\uc561 \uac10\uc18c\uc640 \uad6d\ucc44 \ub9e4\uc785 \ud504\ub85c\uadf8\ub7a8\uc774 \uacb0\ud569\ub418\uba74\uc11c \uc2dc\uc7a5\uc5d0 \ub9c9\ub300\ud55c \uc790\uae08\uc774 \uc720\uc785\ub420 \uac83\uc774\ub77c\ub294 \uc124\uba85\uc774\ub2e4. <\/p><p class=\"wp-block-paragraph\">\uadf8\ub294 \uc774\ub7ec\ud55c \ud604\uc0c1\uc744 \ud654\ud3d0\uc801 \ubaa8\ub974\ud540\uc5d0 \ube44\uc720\ud558\uba70 \ube44\ud2b8\ucf54\uc778\uc744 \ube44\ub86f\ud55c \uc704\ud5d8 \uc790\uc0b0\uc758 \ud558\ub77d\uc138\uac00 \uc885\ub8cc\ub418\uc5c8\ub2e4\uace0 \uc9c4\ub2e8\ud588\ub2e4.<\/p><h2 class=\"wp-block-heading\">\uc7ac\ubb34\ubd80 \uc720\ub3d9\uc131 \uacf5\uae09 \ubc29\uc2dd\uacfc \ubc30\uacbd<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">\uc774\ubc88 \uc720\ub3d9\uc131 \uacf5\uae09\uc758 \ud575\uc2ec\uc740 \uc7ac\ubb34\ubd80\uc758 \uc790\uae08 \uc6b4\uc6a9 \ubc29\uc2dd\uc5d0 \uc788\ub2e4. \uc7ac\ubb34\ubd80 \uc77c\ubc18\uacc4\uc815\uc740 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4\uc5d0 \uc608\uce58\ub41c \uc815\ubd80\uc758 \ub2f9\uc88c \uc608\uae08 \uacc4\uc88c\ub85c, \uc774 \uc794\uc561\uc774 \uc904\uc5b4\ub4e4\uba74 \ud574\ub2f9 \uc790\uae08\uc774 \uc2dc\uc911 \uc740\ud589 \uc2dc\uc2a4\ud15c\uc73c\ub85c \ud758\ub7ec \ub4e4\uc5b4\uac00 \uc720\ub3d9\uc131\uc744 \ub192\uc778\ub2e4. <\/p><figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/cryptonews.com\/wp-content\/uploads\/2026\/02\/image-227-1024x377.png\" alt=\"\uc7ac\ubb34\ubd80 \uc77c\ubc18\uacc4\uc815\" class=\"wp-image-486196\"><figcaption class=\"wp-element-caption\">\ucd9c\ucc98: <a href=\"https:\/\/fiscal.treasury.gov\/tga\/\" target=\"_blank\" rel=\"noreferrer noopener\">Treasury Gov<\/a><\/figcaption><\/figure><p class=\"wp-block-paragraph\">\ud5e4\uc774\uc988\ub294 \uc774\ub97c \uc228\uaca8\uc9c4 \uacbd\uae30 \ubd80\uc591\ucc45\uc774\ub77c\uace0 <a href=\"https:\/\/cryptohayes.substack.com\/p\/this-is-fine\">\uc815\uc758\ud588\ub2e4<\/a>. \uc5f0\uc900\uc774 \uae34\ucd95 \uae30\uc870\ub97c \uc720\uc9c0\ud558\uace0 \uc788\uc74c\uc5d0\ub3c4 \uc7ac\ubb34\ubd80\uac00 \ubd80\ucc44 \uc2dc\uc7a5 \uc548\uc815\uc744 \uc704\ud574 \uc2dc\uc911\uc5d0 \ud604\uae08\uc744 \uacf5\uae09\ud558\ub294 \ube44\uacf5\uc2dd\uc801 \uc644\ud654 \uc815\ucc45\uc744 \ud3b4\uace0 \uc788\ub2e4\ub294 \uc8fc\uc7a5\uc774\ub2e4. <\/p><p class=\"wp-block-paragraph\">\uc2dc\uc7a5 \ud750\ub984\uc774 \uc815\ucc45 \ubc1c\ud45c\ubcf4\ub2e4 \uc2e4\uc9c8\uc801\uc778 \uc790\uae08 \uc720\uc785\uc5d0 \ub354 \ud070 \uc601\ud5a5\uc744 \ubc1b\ub294 \ub9cc\ud07c \uc790\uc0b0 \uac00\uaca9 \uc0c1\uc2b9\uc744 \uc720\ub3c4\ud558\ub294 \ud658\uacbd\uc774 \uc870\uc131\ub418\uace0 \uc788\ub2e4.<\/p><h2 class=\"wp-block-heading\">1\uc870 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc790\uae08 \ud750\ub984 \ubd84\uc11d<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">\ud5e4\uc774\uc988\ub294 \uad6c\uccb4\uc801\uc778 \uc218\uce58\ub97c \uadfc\uac70\ub85c \uc720\ub3d9\uc131 \uacf5\uae09 \uaddc\ubaa8\ub97c \uc0b0\ucd9c\ud588\ub2e4. \ud604\uc7ac \uc57d 7,500\uc5b5 \ub2ec\ub7ec \uc218\uc900\uc778 \uc7ac\ubb34\ubd80 \uc77c\ubc18\uacc4\uc815 \uc794\uc561\uc740 \uc815\ubd80 \ubaa9\ud45c\uce58\uc778 4,500\uc5b5 \ub2ec\ub7ec\uae4c\uc9c0 \ub0ae\uc544\uc9c8 \uc608\uc815\uc774\ub2e4. \uc774 \uacfc\uc815\uc5d0\uc11c \uc57d 3,010\uc5b5 \ub2ec\ub7ec\uac00 \uc2dc\uc7a5\uc5d0 \ubc29\ucd9c\ub41c\ub2e4. <\/p><figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"\uc7ac\ubb34\ubd80 \uc77c\ubc18\uacc4\uc815 \uc794\uc561\" class=\"wp-image-486197 lazyload\" data-src=\"https:\/\/cryptonews.com\/wp-content\/uploads\/2026\/02\/image-228-1024x538.png\" data-srcset=\"\"><figcaption class=\"wp-element-caption\">\ucd9c\ucc98: <a href=\"https:\/\/en.macromicro.me\/collections\/9\/us-market-relative\/34339\/us-treasury-general-account\" target=\"_blank\" rel=\"noreferrer noopener\">MacroMico<\/a><\/figcaption><\/figure><p class=\"wp-block-paragraph\">\uc5ec\uae30\uc5d0 \uc7ac\ubb34\ubd80\uc758 \uad6c\ud615 \ucc44\uad8c \ubc14\uc774\ubc31 \ud504\ub85c\uadf8\ub7a8\uc774 \ub354\ud574\uc9c4\ub2e4. \uc2dc\uc7a5 \uae30\ub2a5\uc744 \uc9c0\uc6d0\ud558\uae30 \uc704\ud55c \uad6d\ucc44 \ub9e4\uc785\uc744 \ud1b5\ud574 \uc5f0\uac04 \uc57d 2,710\uc5b5 \ub2ec\ub7ec\uac00 \ucd94\uac00\ub85c \uacf5\uae09\ub420 \uac83\uc73c\ub85c \ucd94\uc0b0\ub41c\ub2e4. <\/p><p class=\"wp-block-paragraph\">\ucd1d 5,720\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud558\ub294 \uc790\uae08\uc740 \uc5f0\uc900\uc758 \uc591\uc801 \uae34\ucd95 \ud6a8\uacfc\ub97c \uc0c1\uc1c4\ud558\uae30\uc5d0 \ucda9\ubd84\ud55c \uaddc\ubaa8\ub2e4.<\/p><h2 class=\"wp-block-heading\">\ube44\ud2b8\ucf54\uc778 \uac00\uaca9\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uacfc \uc804\ub9dd<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">\ud5e4\uc774\uc988\ub294 \uac00\uc0c1\uc790\uc0b0 \uc2dc\uc7a5\uc758 \ud558\ub77d \uad6d\uba74\uc774 \ub05d\ub0ac\ub2e4\uace0 \ub2e8\uc5b8\ud588\ub2e4. \ube44\ud2b8\ucf54\uc778 \uac00\uaca9\uc740 \uc5ed\uc0ac\uc801\uc73c\ub85c \uae00\ub85c\ubc8c \uc720\ub3d9\uc131 \uc99d\uac10\uacfc \uada4\ub97c \uac19\uc774\ud574 \uc654\uc73c\uba70 \ub2ec\ub7ec \uacf5\uae09 \ud655\ub300\ub294 \ud76c\uc18c \uc790\uc0b0\uc778 \ube44\ud2b8\ucf54\uc778\uc5d0 \uac15\ud55c \uc0c1\uc2b9 \uc555\ub825\uc744 \uac00\ud55c\ub2e4. <\/p><div class=\"cpp-crypto-chart cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC \uac00\uaca9(USD)\" data-main-color=\"#007bff\" data-watermark-image=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/03\/12164618\/Cryptonews_b.png\" data-chart-style=\"cryptonews\"><div class=\"cpp-chart-header-wrapper\"><div class=\"cpp-chart-header\"><img decoding=\"async\" class=\"cpp-chart-header-logo lazyload\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"btc logo\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" data-srcset=\"\"><div class=\"cpp-chart-coin-info\"><div class=\"cpp-chart-coin-name\">Bitcoin (BTC)<\/div><div class=\"cpp-chart-price-row\"><span class=\"cpp-chart-price\"><\/span><span class=\"cpp-chart-change\"><\/span><\/div><\/div><\/div><div class=\"cpp-chart-selectors\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24\uc2dc\uac04<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7\uc77c<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30\uc77c<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1\ub144<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div><\/div><canvas id=\"cpp-chart-6a541071c758b\" class=\"cpp-chart-container\"><\/canvas><\/div><p class=\"wp-block-paragraph\">\ud604\uc7ac \uc2dc\uc7a5\uc758 \ud380\ub529\ube44\uac00 \uadf9\ub2e8\uc801\uc778 \uc218\uc900\uc5d0 \uba38\ubb3c\uace0 \uc788\uc5b4 \uacf5\ub9e4\ub3c4 \uc138\ub825\uc774 \ubc00\uc9d1\ub41c \uc810\ub3c4 \uac00\uaca9 \uc0c1\uc2b9\uc744 \uc790\uadf9\ud558\ub294 \uc694\uc18c\ub2e4. \uc7ac\ubb34\ubd80\ubc1c \uc720\ub3d9\uc131\uc774 \uc720\uc785\ub418\uae30 \uc2dc\uc791\ud558\uba74 \uacf5\ub9e4\ub3c4 \ud3ec\uc9c0\uc158\uc774 \uac15\uc81c \uccad\uc0b0\ub418\ub294 \uc20f \uc2a4\ud034\uc988 \ud604\uc0c1\uc774 \ub098\ud0c0\ub098\uba70 \uac00\uaca9\uc774 \uae09\ub4f1\ud560 \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4. <\/p><p class=\"wp-block-paragraph\">\ud5e4\uc774\uc988\ub294 \ube44\ud2b8\ucf54\uc778\uc774 \uc804\uace0\uc810\uc744 \ub118\uc5b4 10\ub9cc \ub2ec\ub7ec\uae4c\uc9c0 \ub3c4\ub2ec\ud560 \uc218 \uc788\ub294 \uacbd\ub85c\uac00 \uc5f4\ub838\ub2e4\uace0 \uac15\uc870\ud588\ub2e4. \uc8fc\uc694 \ud22c\uc790\uc790\ub4e4\ub3c4 \uc800\uac00 \ub9e4\uc218\uc5d0 \ub098\uc11c\uba70 \ube44\uc911\uc744 \ud655\ub300\ud558\ub294 \ucd94\uc138\ub2e4.<\/p>","protected":false},"excerpt":{"rendered":"<p>\ube44\ud2b8\uba55\uc2a4 \uacf5\ub3d9 \uc124\ub9bd\uc790 \uc544\uc11c \ud5e4\uc774\uc988\uac00 \uc554\ud638\ud654\ud3d0 \uc2dc\uc7a5\uc758 \ub300\uaddc\ubaa8 \ubc18\ub4f1\uc744 \uc804\ub9dd\ud588\ub2e4. \ud5e4\uc774\uc988\ub294 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uac00 \uc8fc\ub3c4\ud558\ub294 \uc57d 5,720\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc720\ub3d9\uc131 \uacf5\uae09\uc774 \uc774\ubc88 \ub7a0\ub9ac\uc758 \ud575\uc2ec \ub3d9\ub825\uc774 \ub420 \uac83\uc73c\ub85c \ubd84\uc11d\ud588\ub2e4. \uc7ac\ubb34\ubd80 \uc77c\ubc18\uacc4\uc815(TGA) \uc794\uc561 \uac10\uc18c\uc640 \uad6d\ucc44 \ub9e4\uc785 \ud504\ub85c\uadf8\ub7a8\uc774 \uacb0\ud569\ub418\uba74\uc11c \uc2dc\uc7a5\uc5d0 \ub9c9\ub300\ud55c \uc790\uae08\uc774 \uc720\uc785\ub420 \uac83\uc774\ub77c\ub294 \uc124\uba85\uc774\ub2e4. \uadf8\ub294 \uc774\ub7ec\ud55c \ud604\uc0c1\uc744 \ud654\ud3d0\uc801 \ubaa8\ub974\ud540\uc5d0 \ube44\uc720\ud558\uba70 \ube44\ud2b8\ucf54\uc778\uc744 \ube44\ub86f\ud55c \uc704\ud5d8 \uc790\uc0b0\uc758 \ud558\ub77d\uc138\uac00 \uc885\ub8cc\ub418\uc5c8\ub2e4\uace0 \uc9c4\ub2e8\ud588\ub2e4.\uc7ac\ubb34\ubd80 \uc720\ub3d9\uc131 [&hellip;]<\/p>\n","protected":false},"author":249,"featured_media":208376,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6],"tags":[],"editors":[48],"sponsored_companies":[],"class_list":["post-208375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","editors-sanghee"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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