Arthur Hayes, co-founder of BitMEX, sold his entire positions in NEAR Protocol and Hyperliquid (HYPE). He cited rising energy prices, upcoming AI IPOs, and macro timing risks. The sales led to significant price drops for both tokens, with NEAR falling 17% and HYPE also experiencing a pullback.
NEAR Protocol experienced a significant price decline, dropping nearly 17% on June 4, 2026, after BitMEX co-founder Arthur Hayes announced he had sold his entire positions in both NEAR and Hyperliquid (HYPE). Hayes attributed his decision to three main factors: rising energy prices potentially linked to the Iran war and inventory restocking, the anticipation of three major AI company IPOs launching before early Q3, and a prediction that President Donald Trump might adopt an anti-AI stance to gain political advantage. He indicated a more detailed explanation would be provided in his upcoming essay, 'Reality Test.' On-chain data confirmed Hayes sold 247,334 HYPE tokens for approximately $18.02 million, though the quantity of NEAR tokens sold was not disclosed. The announcement triggered a risk-off sentiment in the derivatives market, with NEAR futures open interest falling over 21% to $543 million, suggesting traders were closing existing leveraged positions rather than opening new ones. NEAR's price chart showed it had already been struggling, facing rejection near the $3.00–$3.10 resistance zone before breaking through short-term moving averages. At the time of writing, NEAR was trading around $2.05, with the $2.00–$2.01 zone identified as a critical short-term support level.
The sale by a prominent figure like Arthur Hayes can significantly impact token prices and market sentiment, highlighting the sensitivity of crypto assets to influential voices and macroeconomic concerns.