As the cryptocurrency market dipped another 2.02% in the past 24 hours to a total market cap of $3.66 trillion, former BitMEX CEO Arthur Hayes reportedly cashed out $13.35 million worth of crypto assets. Hayes, one of the most vocal macro-focused traders in the space, addressed the move directly on social media platform X, making clear he still believes Bitcoin is headed back to $100,000 and Ethereum to $3,000.
Hayes Sells 2,373 ETH, 7.76M ENA and 38.86B PEPE
On August 1, 2025, the on-chain monitoring account Lookonchain posted a report stating, “Arthur Hayes (@CryptoHayes) sold 2,373 ETH ($8.32M), 7.76M ENA ($4.62M) and 38.86B PEPE ($414.7K) in the past 6 hours.” The account also highlighted a wallet address linked to Hayes via Arkham Intelligence. Hayes replied directly to Lookonchain’s X post, implying the wallet was his. He cited the macroeconomic backdrop as the primary reason: a looming U.S. tariff bill in the third quarter, which markets are pricing in after the latest Non-Farm Payroll report. Hayes argues that no major economy is generating enough credit to grow nominal GDP.
“So BTC tests $100K, ETH tests $3K.” — Arthur Hayes
Hayes directed followers to his keynote at WebX Asia in Tokyo on August 25 for further explanation, then added he was headed “back to the beach.” Analysts interpret the sale as a defensive portfolio adjustment amid short-term macro pressures, rather than a shift in long-term conviction.
Long-Term Bullish: $200K Bitcoin by Year-End
Despite the sell-off, Hayes maintains a strong bullish outlook. He anticipates a surge in fiat liquidity driven by U.S. fiscal expansion under potential Trump policies, Bank of Japan dollar injections, and inflationary war-driven economics. In past statements, he projected Bitcoin to reach $200,000 by year-end as the crypto market benefits from global monetary easing.
Hayes' actions highlight a common strategy among experienced traders: hedging short-term risks while maintaining core long positions. His open communication provides valuable insight into macro-driven crypto trading. While the immediate market sentiment may remain cautious due to tariff uncertainties, Hayes’ belief in a $100K Bitcoin test serves as a potential floor for short-term price action. The community now awaits his Aug. 25 keynote for more detailed analysis on how global fiscal and monetary policies could accelerate crypto adoption.