Key facts
- Arthur Hayes sold his entire holdings in HYPE and NEAR Protocol.
- Hayes announced the sale on X on June 4.
- He cited rising energy prices, three major AI IPOs, and potential political risks as reasons for his decision.
- Hayes predicts a market peak before September and stated it is time to take profits.
- He will explain his reasoning in an upcoming essay titled 'Reality Test'.
Arthur Hayes, co-founder of BitMEX and a known figure in the crypto space, announced on June 4 via X that he has sold his complete positions in HYPE and NEAR Protocol. Hayes indicated that he is taking profits due to a confluence of macro headwinds that he believes could lead to a market peak before September. Among the cited reasons are rising energy prices, influenced by the Iran war and inventory restocking, and the anticipation of three significant AI IPOs scheduled between now and early Q3. Additionally, Hayes mentioned a political risk associated with former President Donald Trump potentially adopting an anti-AI stance to gain support before the midterm elections. Hayes stated that he will provide a detailed explanation of his decision in an upcoming essay titled 'Reality Test'. The sale has drawn attention as Hayes is known for his market analyses concerning liquidity cycles and central bank policies.