Recent actions of BitMEX founder Arthur Hayes have garnered interest in the cryptocurrency market as he sold assets worth $13 million.
Volume of Sale
Blockchain tracking data shows that Hayes unloaded approximately 2,373 ETH (around $8.32 million), 7.76 million ENA tokens (equivalent to $4.62 million), and nearly 39 billion PEPE tokens (around $415,000). This move surprised many given his previously bullish outlook on altcoins.
Market Decline Context
Hayes's timing coincided with Bitcoin sliding to $112,731 within 24 hours. This came as part of the third major profit-taking wave of the current bull cycle, a pattern often preceding market corrections. Additionally, Bitcoin ETFs recorded $812 million in outflows, the second-largest loss in a single day in history.
Hayes's Strategy
Despite the questions regarding the timing of his liquidation, Hayes's actions may reflect a calculated risk adjustment. In recent months, he has maintained that Ethereum could eventually rise to $10,000 and just weeks ago invested $1.5 million in Ethena (ENA) at lower prices. His latest move may be an effort to lock in profits and preserve capital for re-entry when market conditions stabilize.
Hayes's asset distribution amid a market decline may be a strategic step supporting his previous forecasts and investment approach.
