BitMEX co-founder Arthur Hayes is offloading some of his crypto holdings, predicting a market correction soon. He’s betting against the current market trend.
Hayes’s Sell-Off
According to reports, Hayes recently sold millions of dollars worth of Ethereum (ETH), Pepe (PEPE), and Ethena (ENA). This move suggests he’s anticipating a downturn.
Reasons for the Pessimism
Hayes believes the economy isn’t growing fast enough, and upcoming tariffs could trigger a market correction. He thinks this will cause Bitcoin (BTC) and Ethereum (ETH) to drop significantly. He specifically mentioned the impact of the US tariff bill and the slow growth of major economies.
Long-Term Bullish Outlook
Despite his short-term bearish prediction, Hayes remains optimistic about crypto’s long-term potential. He still expects Bitcoin to reach $250,000 and Ethereum to hit $10,000 by the end of the year. This is a significant increase from the current prices.
Disclaimer
This information is for general knowledge only and should not be considered investment advice. Always do your own research before making any investment decisions.