Hayes Sells $5M in Altcoins, Doubles Down on ZEC Pre-Halving
BitMEX co-founder Arthur Hayes liquidated nearly $5 million in altcoins as crypto markets hit multi-month lows and saw over $620 million in 24-hour liquidations, including $243.5 million in Bitcoin and $170 million in Ethereum. On-chain data reveals he offloaded ETH, ENA, ETHFI, LDO, AAVE and UNI via institutional OTC desks. Despite the altcoin liquidation, Hayes signalled a bullish stance on Zcash (ZEC), posting a ZEC/BTC chart and increasing his ZEC holdings as the pair climbed from 0.0045 to 0.0068 BTC on higher volume. Traders are eyeing a privacy-coin rotation. Hayes remains optimistic on the broader crypto cycle, forecasting a post-halving peak in late 2025 or early 2026 amid sustained macro spending trends.
Bearish
Arthur Hayes’s near $5 million altcoin liquidation adds to existing leveraged unwind and market lows, heightening short-term bearish pressure across major altcoins. His sell-off via OTC desks reinforces negative sentiment among traders. Conversely, his bullish signal on ZEC—with an increased Zcash position and a rising ZEC/BTC pair—may trigger a privacy-coin rotation, offering a short-term uplift for ZEC. Looking further ahead, Hayes’s forecast of a post-halving peak in late 2025 or early 2026 supported by macro spending trends underscores long-term bullish potential once volatility subsides.