Arthur Hayes Dumps Millions in Crypto Amid Bearish Bet on U.S. Tariff Impact
Main Idea
Arthur Hayes sold over $13 million in crypto assets, citing bearish market conditions due to U.S. tariffs and a weak jobs report, while still maintaining a long-term bullish outlook on Bitcoin and Ether.
Key Points
1. Arthur Hayes sold $13 million worth of crypto, including ETH, ENA, and PEPE, shifting to USDC, which now comprises over 80% of his $27.9 million portfolio.
2. Hayes attributed his sell-off to potential market impacts from President Trump's tariffs and a weaker-than-expected U.S. jobs report.
3. He predicted Bitcoin could test $100K and Ether $3K, despite the current market downturn, with a long-term target of $250K for Bitcoin.
4. The crypto market, as measured by the CoinDesk 20 index, dropped over 7.5%, with Bitcoin and Ether falling 3.9% and 6.5% respectively.
5. Hayes remains bullish long-term, as indicated by his previous price targets and comments, despite the current risk-off sentiment in the market.
Description
Arthur Hayes, the co-founder of crypto exchange BitMEX, has offloaded more than $13 million worth of crypto holdings, including ether (ETH), ethena (ENA), and pepe (PEPE). Data from Arkham Intelligence shows Hayes sold millions worth of these cryptocurrencies and moved to accumulate USDC, with the stablecoin now making up over 80% of the $27.9 million in the address associated with him. The address sold 2,373 ETH worth $8.32 million, 7.76 million ENA valued at $4.62 million, and 38.86 billion PE...
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