- Arthur Hayes sold over $7.42M in crypto in 48 hours, including 1,480 ETH.
- The market lost $250B over the weekend; Fear and Greed Index hits extreme fear.
- Stablecoin issuance suggests investors may be waiting to re-enter the market.
BitMEX co-founder Arthur Hayes has offloaded over $7.42 million in crypto assets across six tokens in just 48 hours, according to on-chain data from OnchainLens. His largest sale included 1,480 ETH valued at $4.7 million, alongside significant holdings in ENA, LDO, AAVE, UNI, and ETHFI.
Hayes’ Ethereum timing remains a topic of discussion. Previously, he sold ETH at a market low in August and repurchased at higher prices just days later. Crypto commentator Joe noted that while Hayes is a strategic macro thinker, his ETH trades “always seem cursed,” often followed by price rallies immediately after his exits.
Community Reacts to Sell-Off
The rapid liquidation sparked mixed reactions online. Some X users criticized Hayes’ strategy, saying he “trades like retail” and capitulates at inopportune times. Others view his sell-offs as potential buying opportunities, citing his history of exiting just before rebounds.
Also Read: Arthur Hayes Picks Zcash as Second-Largest Holding After 700% Surge
Market-Wide Panic Triggers Action
Hayes’ move comes amid a sharp $250 billion loss in the crypto market over the weekend, dropping total market capitalization to $3.24 trillion. The Crypto Fear and Greed Index has plunged to its lowest point of the year, signaling extreme fear among investors. Despite the turbulence, capital continues to flow, with Circle minting $750 million in new USDC and Tether and Circle issuing over $14 billion in stablecoins since October, hinting at potential re-entry for sidelined funds.
Looking Ahead
Earlier this month, Hayes described the “choppy market” as a temporary pause before a likely rally, suggesting that real buying opportunities await when macro conditions stabilize. His recent sell-off reflects both personal strategy and broader market nervousness, underlining the volatility that continues to challenge crypto investors.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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