Arthur Hayes Sells $26M in Crypto as BTC Slips
Arthur Hayes-linked wallets sold about $22.28 million in crypto in an earlier on-chain report, including 6,400 ETH worth roughly $15.2 million. A later report put Hayes’s October 24 sales at about $26 million, including 8,000 ETH worth around $19 million, and said his recent sales had generated a total of $49.24 million in USDC. The reported sales also included ENA, UNI, ETHFI, AERO, PENDLE and ZAMA.
The selling followed bullish comments from Hayes: he said he was bullish on BTC and ETH on October 15, and had previously forecast ETH could reach $10,000 by year-end or, in August, $20,000–$30,000. He has since cited macroeconomic and geopolitical risks and said he would wait for conditions to improve before re-entering. BTC was below $80,000 at the time of the later report.
Arthur Hayes’s crypto sales may add short-term selling pressure and weigh on sentiment, particularly around ETH, but a single investor’s wallet activity is not a reliable market forecast. Traders may track the on-chain flows alongside broader price action and market conditions.
Bearish
The reported sales, especially the large ETH disposals, could create short-term selling pressure and encourage traders to interpret Hayes’s actions as a sign of caution. BTC trading below $80,000 at the time of the later report may reinforce risk-off sentiment, although the direct price signal from Hayes’s transactions is strongest for the tokens he reportedly sold. Similar high-profile wallet movements can prompt short-term reactions, but they do not establish broad investor behavior or reliably predict prices. Over the longer term, the impact depends more on market-wide liquidity, macroeconomic and geopolitical developments, and actual demand for the assets. Hayes’s earlier bullish forecasts also show why traders should not treat one investor’s actions or commentary as conclusive evidence of market direction.