Key facts
- Arthur Hayes has exited his positions in HYPE and NEAR Protocol.
- Hayes cited five macro and geopolitical factors for his decision.
- Factors include higher energy prices, upcoming AI IPOs, and potential shifts in AI political stances.
- Hayes had previously identified HYPE as a major position with a $150 price target.
- HYPE experienced a 55% weekly surge before Hayes' exit.
Arthur Hayes, co-founder of BitMEX and Chief Investment Officer of Maelstrom, announced on June 4, 2026, that he has sold his entire positions in both Hyperliquid's HYPE token and NEAR Protocol. This decision reverses two of his previously stated high-conviction long calls. Hayes cited five macro and geopolitical factors he believes will negatively impact risk assets between now and early Q3 2026. These include higher energy prices due to the Iran war and inventory restocking, the anticipated pipeline of three mega AI initial public offerings that could absorb institutional capital, a prediction that President Trump might adopt an anti-AI political stance before the midterm elections, a broader view that market highs across asset classes will occur by September, and a personal desire to take profits and enjoy time in Ibiza without the psychological burden of open positions. Hayes had previously identified HYPE as one of his largest positions outside of Bitcoin, with a stated price target of $150 by August 2026. HYPE had already seen significant returns, including a 55% weekly surge that pushed the token above $56 before analyst Ali Martinez flagged an overheated technical setup at the $59–$60 resistance zone, which Hayes appears to have used as his exit window. The exit comes at a sensitive technical moment for HYPE, which had delivered 130% in year-to-date returns. The impact on HYPE's near-term price action will depend on whether institutional demand, evidenced by Hyperliquid's Q1 report of $215 million in gross revenue and four HYPE ETF filings, can absorb the sentiment impact of Hayes' public exit. Hayes emphasized that his exit is tactical rather than fundamental. The announcement triggered an immediate wave of discussion across crypto social media, with whale movements of this size drawing intense scrutiny from both supporters and critics. HYPE reacted with a -9% move overnight, dropping to around $66. NEAR has been hit harder, losing more than 16% in value over the past 24 hours, dropping to $2.37. Hayes previously sold his HYPE position on September 21, 2025, clearing $5.1M, before re-accumulating and setting the $150 price target. On-chain data showed Hayes accumulating 247,334 HYPE, worth approximately $10.44M, by rotating out of PENDLE and ENA positions.