Recently, Arthur Hayes, co-founder of BitMEX, made unexpected moves in the cryptocurrency market that raised many questions and discussions.
Unexpected Sale and Buyback
Arthur Hayes sold 2,373 ETH for approximately $8.32 million when the price was around $3,507. A week later, as ETH exceeded $4,000, he injected $10.5 million through several USDC transactions to buy back the asset at prices over $4,150.
Macroeconomic Warnings and Institutional Flows
A few days before this buyback, Hayes, now Chief Investment Officer of the Maelstrom Fund, warned of potential market pullbacks. He referenced disappointing U.S. employment reports and a slowdown in credit growth in major economies. In this light, he believed these macroeconomic tensions could push Bitcoin towards $100,000 and ETH down to $3,000.
Community Reactions to Hayes's Actions
Following his actions, Hayes commented on the situation on the social network X (formerly Twitter), evoking interest and discussions within the crypto community. Some observers view his move as an emotional decision, while others see it as a calculated bet on a continuation of the rally.
Arthur Hayes's actions highlight the tense atmosphere in the cryptocurrency market, where investors are grappling with correction fears and growth prospects.
