Bitcoin proponent Arthur Hayes predicts a surge to $100K due to trade tension turmoil, as he dumps his Ethereum holdings.
Arthur Hayes Shifts Portfolio Amid Bearish Market Outlook
Arthur Hayes, the co-founder of BitMEX, has made a significant move in the crypto market by liquidating over $13 million worth of assets, including Ethereum (ETH), Ethena (ENA), and PEPE tokens. This strategic sell-off, accompanied by a shift towards the stablecoin USDC, suggests a defensive positioning in response to a bearish macroeconomic outlook.
Hayes' portfolio now comprises approximately 80% stablecoins, a move aimed at preserving capital ahead of expected market turbulence. His decision is rooted in his concerns about the global economy, citing factors such as the disappointing U.S. Non-Farm Payrolls report, sluggish credit growth in major economies, and the looming U.S. tariffs as reasons for his bearish stance.
Hayes' prediction for Bitcoin and Ethereum prices reflects his expectation of a substantial correction. He forecasts that Bitcoin could test the $100,000 mark, while Ethereum could target $3,000, figures that, if reached, would represent a significant drop from their current highs.
This strategic shift goes beyond routine portfolio rebalancing. It signals Hayes' intent to prepare for anticipated bearish market conditions, either by positioning for a market reentry at lower prices or locking in profits before volatility hits.
Hayes' recent moves have been closely watched by analysts and investors alike, with his commentary reinforcing growing concerns around global economic momentum and the crypto market's response to fiscal stressors. His actions continue to influence sentiment in the crypto market, and his keynote at WebX Asia in Tokyo on August 25th is highly anticipated by followers seeking further insights.
Sources: 1. Finance Magnates 2. Brave New Coin 3. CoinDesk
- Arthur Hayes, the co-founder of BitMEX, has sold off assets worth over $13 million, including Ethereum, Ethena, and PEPE tokens, and is now mainly holding stablecoins like USDC, indicating a defensive strategy in the crypto market due to his bearish outlook.
- Hayes anticipates a substantial correction for both Bitcoin and Ethereum, predicting they could test $100,000 and $3,000 respectively, which would be a significant drop from their current highs.
- Hayes' recent strategic moves, including liquidating assets and shifting towards stablecoins, have sparked interest among analysts and investors, who are closely watching his actions for insights into the crypto market's potential response to global economic challenges.
- This keynote at WebX Asia in Tokyo on August 25th, where Hayes is scheduled to speak, is highly anticipated by followers seeking further insights into his outlook on the crypto market and the global economy.
