Bitmex founder Arthur Hayes loosens his altcoin positions and believes that the crypto market will witness a correction this month.
In a new post on the social media platform X, Blockchain Tracking Firm Lookonchain spotted Hayes selling millions of dollars in Ethereum (Ethics) as well as Memecoin Pepe (Pepe) and the StableCoin-focused project Ethena (This).
“Arthur Hayes sold $ 2,373 ($ 8.32 million), $ 7.76 million ($ 4.62 million) and $ 38.86 billion ($ 414,700) …”
Crypto veteran says He sells his altcoins because he believes that the third quarter will be a period of sluggish economic growth. Hayes believes that monetary policy is not sufficiently loose to stimulate the economy, especially with Trump’s customs on the horizon.
According to Hayes, macro conditioner is mature to trigger significant retreat centers for bitcoin (BTC) and Ethereum.
“Why? The US customs proposal that will fall due in 3Q … At least the market believes that after NFP (non-farm salary), no major economy creates fast enough to increase the nominal GDP. So BTC tests $ 100,000, ETH tests $ 3,000.”
Despite its short -term baisse -like attitude to crypto, Hayes believes that the asset class is still in a strong upward trend
Late last month, he Rejected His price for the end of the year for Bitcoin and Ethereum.
“My goals at the end of the end:
Bitcoin = $ 250,000.
Ether = $ 10,000. “
At the time of writing, Bitcoin is traded for $ 113,197, while ETH is worth $ 3,420.
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