Arthur Hayes Sells HYPE and NEAR Holdings, Citing Macro Concerns
Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, has once again divested his holdings in HYPE and NEAR. The prominent figure cited a confluence of factors for his decision, including rising energy prices linked to geopolitical tensions in Iran, the potential liquidity drain from upcoming major AI initial public offerings (IPOs), and a belief that markets may reach a peak between now and September. Hayes’ strategy, he explained, is to secure profits and reallocate capital into Bitcoin.
Hayes revealed his move via social media, stating, “I just dumped my entire $HYPE and $NEAR position, I will explain why in my essay ‘Reality Test’ dropping next Tuesday. TLDR: – Higher energy prices due to Iran war and inventory restocking – 3 Mega AI IPOs between now and early Q3 – Prediction that Trump goes anti-AI to win…”
However, this abrupt exit contrasts sharply with Hayes’ stance just four days prior. He had previously expressed strong optimism for HYPE, posting “Meow — $HYPE to $150” alongside a cat meme and championing what he termed his “holy trinity” of altcoins: HYPE, ZEC, and NEAR. He even engaged in a $100,000 charity bet with Kyle Samani, wagering that Hyperliquid would outperform all top-10 cryptocurrencies by year-end.
A Familiar Pattern Emerges
While there is no inherent issue with taking profits, the swift reversal has drawn scrutiny due to its perceived similarity to past actions. In September 2025, Hayes was notably bullish on Hyperliquid, forecasting a potential 126x rally and consistently promoting the token before subsequently selling millions of dollars worth. At the time, he humorously acknowledged that some of the proceeds would fund a Ferrari purchase.
This pattern of renewed bullishness and subsequent exit has repeated. In 2026, Hayes once again presented fresh price targets, expressed strong conviction, and promoted new narratives before exiting his positions.
Community Reaction and Hayes’ Influence
The cryptocurrency community has voiced its observations, with many noting Hayes’ tendency to buy into an already moving token, promote increasingly ambitious price targets, and then sell into the resulting momentum. Critics questioned how someone could advocate for a $150 target for HYPE only to liquidate their entire position shortly thereafter.
Some supporters of Hyperliquid have defended Hayes’ prerogative to trade as he sees fit, emphasizing that he is not obligated to hold indefinitely and that no one is compelled to mirror his trades.
Nevertheless, Hayes is not merely another crypto influencer. As a recognized pioneer in crypto derivatives and a significant industry figure, his market commentary continues to hold considerable sway. When he repeatedly constructs bullish narratives around a token and then exits shortly after, it naturally invites questioning.
The frustration appears to stem from a recurring pattern observed across various assets, including ETH, PEPE, ENA, and HYPE. While Hayes’ wallet transactions are publicly accessible, transparency alone does not shield him from criticism when such cycles repeat.
Hayes is expected to release a more detailed essay explaining his decision, and his macroeconomic concerns may ultimately prove prescient. The crypto market is known for its rapid shifts, and sound risk management is an integral part of navigating it.
Ultimately, the crypto space is not short on bullish narratives. What is often lacking, critics argue, is accountability when those narratives evaporate the moment profits are within reach.
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