Arthur Hayes, co-founder of BitMEX and a prominent figure in the cryptocurrency markets, sold a total of approximately $13.5 million worth of crypto assets in the last 6 hours.
According to on-chain data, Hayes's assets are as follows:
- 2,373 Ethereum (ETH) – approximately $8.6 million
- 7.76 million Ethena (ENA) – approximately $4.56 million
- 38.87 billion Pepe (PEPE) – approximately $411,000
Hayes made the following statement on social media following the sales:
Why? The US has tariffs due in Q3… At least, that's what the market thinks after the nonfarm payrolls (NFP) data. None of the major economies can generate credit fast enough to boost nominal GDP. That's why Bitcoin will test $100,000, and Ethereum will test $3,000.
Bitcoin's price has fallen from $120,000 to $113,000 in recent days. Ethereum's decline was even more severe, with the price dropping below $3,500, down 2.8% in the last 24 hours.
*This is not investment advice.
