Hayes expects Q3 economic slowdown due to insufficient monetary stimulus and upcoming U.S. tariff adjustments.
BitMEX co-founder Arthur Hayes sold portions of his cryptocurrency holdings. Blockchain tracker Lookonchain reported these transactions on social media platform X. Hayes disposed of 2,373 Ethereum (ETH) worth approximately $8.32 million. He also sold 7.76 million Ethena (ENA) tokens valued near $4.62 million. Additionally, he liquidated 38.86 billion Pepe (PEPE) tokens for about $414,700.
Hayes explained his decision through public statements. He anticipates slower economic growth during the third quarter. Current monetary policies appear insufficient to stimulate expansion according to his analysis. Upcoming U.S. tariff adjustments under the Trump administration contribute to this outlook.
These economic conditions could affect cryptocurrency markets. Hayes suggested Bitcoin might approach the $100,000 price level. Ethereum could test $3,000 per token during this period. His sales represent a tactical adjustment to market expectations.
“Why? US Tariff bill coming due in 3Q … at least the market believes that after NFP (non-farm payroll) print. No major economy is creating enough credit fast enough to boost nominal GDP. So BTC tests $100,000, ETH tests $3,000.”
Despite these transactions, Hayes maintains a positive long-term view. He considers the broader cryptocurrency trend upward. This position reflects distinction between immediate concerns and extended market cycles.
Economic indicators referenced include non-farm payroll data and credit growth metrics. Hayes indicated these factors influence his near-term strategy. The transactions occurred before quarterly economic reports release.
Cryptocurrency markets frequently react to macroeconomic developments. Tariff policies historically impact risk asset valuations. Current conditions show limited credit expansion across major economies.
Hayes continues holding undisclosed cryptocurrency positions. His public commentary emphasizes vigilance during upcoming months. The sales don’t indicate wholesale exit from digital assets.
ETHNews analysts note similar patterns among other large holders. Portfolio rebalancing occurs regularly during uncertain economic phases. Hayes’ actions align with this observed behavior.
