Arthur Hayes, co -founder of Crypto Exchange Bitmex, has read more than $ 13 million worth of crypto cushions, including ether (Eth)ethena
and pepe.
Data from Arkham Intelligence shows that Hayes sold millions worth of these cryptocurrencies and moved to accumulate USDC, where stableecoin now makes up over 80% of the $ 27.9 million in the address attached to him.
The address sold 2,373 ETH to a value of $ 8.32 million, 7.76 million ENA valued at $ 4.62 million and 38.86 billion PEPE for $ 414,700. In a post on X, he apparently confirmed that he is behind the address and pointed to a bearish scenario for the crypto area.
Hayes suggested that the markets will get a hit from the impact of President Donald Trump’s tariffs, some of which came into force on August 1st and others will come on August 7, affecting the most important trading partners.
Combined with a weaker-end expected US job report, he claimed that no major economy is expanding to credit quickly enough to increase the nominal GDP. Based on this, he predicted that Bitcoin could “test $ 100K” while ether will visit $ 3,000.
Y? The US customs calculation that is due in 3q … at least Mrkt thinks that after NFP printing. No bigger ECON creates enough credit fast enough to increase the nominal GDP. So $ Btc testing $ 100,000, $ ETH TESTS $ 3K. Come and see my @Webx_asia Tokyo Keynote 25 August for more info. Back to the beach. https://t.co/zuhlwgqkc7
– Arthur Hayes (@Cryptohayes) August 2, 2025
The Crypto Market, measured by Coindesk 20 (CD20) index, lost more than 7.5% of its value over the past week as betting hope faded. Bitcoin exceeded the wider market with a fall of 3.9% and is now at $ 113,500.
Similarly, Ether experienced a decrease of 6.5% in the same period and now trades for $ 3,500. While betting hope dampened Friday, later in the session, they rose after the labor market that showed signs of weakness. The Polymarket -Dealers are now weighing a 70% chance of a rate cut in September.
The market also decreases when tension between the United States and Russia escalates. After former Russian President Dmitry Medvedev threatened the United States in response to an ultimatum in Moscow to accept a ceasefire, Trump said he ordered two nuclear submarines to move to the “appropriate regions.”
Despite the sale, Hayes may remain bullish. In a post last month, he said his goal for the end of the year at the award of Bitcoin was $ 250,000 while watching Ether rise to $ 10,000.
