Want to Know Why the Market Is Dropping, Look at What Arthur Hayes Is Doing
Main Idea
The crypto market experienced a significant drop, led by Ethereum, with Arthur Hayes selling substantial holdings and attributing the sell-off to concerns over Q3 tariffs, weak job data, and slowing credit.
Key Points
1. Ethereum led the crypto market drop, falling over 5% in 24 hours.
2. Arthur Hayes sold $13M in ETH, ENA, and PEPE tokens within six hours.
3. Hayes cited weakening job growth, upcoming Q3 tariffs, and slowing credit as reasons for the market downturn.
4. Hayes predicts Bitcoin could retest $100,000 and Ethereum $3,000.
5. Short-term technical analysis shows Bitcoin struggling around $120K-$123K, with support at $114K.
Description
Ethereum leads crypto drop, falling over 5% in 24 hours. Arthur Hayes sold $13M in ETH, ENA, and PEPE today. Hayes warns of Q3 tariffs, weak job data, slowing credit. The crypto market faced a sudden and steep sell-off today, with Ethereum leading the drop, falling over 5% in the last 24 hours. Adding to the market wide sell-off, Arthur Hayes, analyst and co-founder of BitMEX, sold off a portion of his holdings as well: 2,373 ETH worth around $8.32 million, 7.76 million ENA tokens worth $4.62 mi...
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