03.08.2025 16:25

Arthur Hayes, the co-founder of the prominent cryptocurrency exchange BitMEX, has recently offloaded significant holdings of various altcoins. This move reflects his pessimistic outlook on the immediate future of the cryptocurrency market, with a prediction of an impending correction.

Hayes's substantial sell-off, as observed by blockchain analytics firm Lookonchain via its social media presence on X, involved millions of dollars in Ethereum (ETH), the popular memecoin Pepe (PEPE), and a stablecoin-centric project (whose name was not specifically provided in the original source). The sheer volume of these sales signals a considerable shift in his investment strategy.

This significant divestment follows Hayes's expressed concern regarding an imminent market downturn. He anticipates a pullback not only in the price of Ethereum, but also in Bitcoin, the dominant cryptocurrency. This forecast suggests a potentially broad market correction rather than isolated weakness in specific assets.

This development adds another layer of uncertainty to the already volatile cryptocurrency landscape. Hayes’s actions, given his prominent position in the industry, could be interpreted as a bearish indicator by other market participants. His publicly declared concerns about the market, coupled with his substantial sell-off, warrant careful consideration for investors contemplating their crypto holdings. The prediction of imminent pullbacks in both Bitcoin and Ethereum, further amplifies the perceived potential for a broader market correction, based on information from internet sources.