- Arthur Hayes liquidated $13 million in ETH, ENA, and PEPE, aligning with growing market uncertainty and declining institutional short-term confidence.
- Hayes referenced upcoming U.S. tariffs and disappointing job data as reasons behind his decision to reduce crypto exposure this early in Q3.
- Despite the pullback, analysts observe strategic institutional accumulation, hinting at longer-term optimism for Ethereum’s recovery toward $4,000 levels.
Arthur Hayes, one of the BitMEX co-founders, has unloaded over $13 million of cryptocurrency holdings, signaling caution amid existing macroeconomic headwinds. The sales of Ethereum, Ethena, and PEPE occurred over six hours.
Hayes Sells Ethereum, ENA, and PEPE
Blockchain analytics firm Lookonchain reported that Hayes offloaded 2,373 ETH worth approximately $8.32 million. In addition, he sold 7.76 million ENA tokens, valued at $4.62 million, and 38.86 billion PEPE tokens, totaling around $414,700. The move comes amid an environment of growing bearish sentiment from seasoned market participants.
Arkham data confirms the transactions relate the sale to concerns over an international credit slowdown. Hayes’ move has most people looking at it as being an ominous sign, particularly with Ethereum just below the $3,000 level and Bitcoin passing the $100,000 benchmark.
Macroeconomic Concerns Drive Caution
In a recent tweet, Hayes stated that the upcoming Q3 U.S. tariff bill and soft non-farm payroll figures are contributing to market stress. He noted that no major economy is currently expanding credit at a pace sufficient to sustain nominal GDP growth. These economic concerns have translated into growing hesitancy among crypto holders.
Hayes foresees that Bitcoin may fall to $100,000, and Ethereum may probe its support level at $3,000. Market experts see it as a critical moment where short-term vulnerability may shake investors’ confidence.
Crypto analyst HolaItsAk47 pointed to additional factors behind the market downturn. According to the tweet, Bitcoin dominance has dropped from 65% to 59.3%, and over $1 billion in liquidations have occurred recently. Trump-era tariff concerns and inflation-related fears are further unsettling markets.
Long-Term Views Show Diverging Sentiment
While Hayes adopts a defensive stance, others in the crypto space see an opportunity for accumulation. Analysts tracking institutional behavior suggest large-scale buyers are quietly positioning for long-term gains.
This consolidation is being viewed by some as a tactical reset. As Ethereum is backed by increasing DeFi adoption and better regulatory prospects, some think a recovery towards $4,000 is still possible. Traders should be told to keep risk control tight and watch on-chain flows as volatility continues.
