Arthur Hayes Dumps $13M in Crypto—But Still Bets Bitcoin Hits $100K

Crypto heavyweight Arthur Hayes just liquidated $13 million in digital assets—while simultaneously predicting Bitcoin will soar to $100,000. Talk about having your cake and shorting it too.

Market whiplash incoming? The ex-BitMEX CEO’s move screams tactical retreat, not surrender. His sell-off coincides with whispers of institutional FOMO brewing beneath Bitcoin’s recent volatility.

Wall Street’s playing catch-up (again). While suits debate ‘store of value’ theories, OGs like Hayes treat crypto like a high-stakes chessboard—liquidating positions doesn’t mean abandoning the game.

One hedge fund manager yawned: ‘Another day, another crypto fire sale before the next leg up.’ Meanwhile, retail traders are left deciphering whether this is a warning flare or a bull trap.

TLDR

• Arthur Hayes sold over $13 million in crypto holdings including ETH, ENA, and PEPE tokens
• Hayes predicts Bitcoin could drop to $100,000 and Ethereum to $3,000 due to macro headwinds
• Recent US jobs report showed only 73,000 new positions added in July, well below expectations
• Hayes cites Trump’s tariffs and weak credit growth as factors pressuring crypto markets
• Bitcoin has already fallen 7.7% from its July high while Ethereum dropped 12.5%

BitMEX co-founder Arthur Hayes has liquidated over $13 million worth of cryptocurrency holdings while warning that Bitcoin could retrace to $100,000. Hayes sold his positions in Ethereum, Ethena, and Pepe tokens as macro economic pressures mount.

The crypto veteran pointed to several economic factors driving his bearish outlook. The July Non-Farm Payrolls report showed just 73,000 new jobs added in the United States. This figure fell well short of market expectations and signals potential economic weakness.

Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC tests $100k, $ETH tests $3k. Come see my @WebX_Asia Tokyo keynote Aug 25 for more info. Back to the beach. https://t.co/zuHlwgQKC7

— Arthur Hayes (@CryptoHayes) August 2, 2025

Hayes also expressed concerns about President Trump’s tariff policies. Some tariffs took effect on August 1 with additional measures scheduled for August 7. These trade policies target key US trading partners and could impact global economic growth.

Data from Arkham Intelligence reveals the scope of Hayes’ recent selling activity. His wallet offloaded 2,373 ETH worth $8.32 million and 7.76 million ENA tokens valued at $4.62 million. The sales also included 38.86 billion Pepe tokens for $414,700.

Following these transactions, Hayes’ portfolio now holds $28.3 million in total assets. The USDC stablecoin makes up over 80% of his current holdings at $22.95 million. This shift to stablecoins reflects his defensive positioning amid market uncertainty.

Credit Growth Concerns Drive Bearish Outlook

Hayes argued that no major economy is creating credit fast enough to boost nominal GDP growth. This sluggish credit expansion could weigh on risk assets including cryptocurrencies. He specifically predicted Bitcoin would “test $100K” while ethereum could revisit $3,000.

The crypto market has already shown signs of weakness in recent weeks. Bitcoin fell 7.7% from its July 14 all-time high of $123,000 and currently trades around $113,500. Ethereum declined 12.5% since breaking above $3,900 on July 28 and now sits near $3,500.

A drop to $100,000 would represent an 18.7% correction for Bitcoin from current levels. The CoinDesk 20 index, which tracks major cryptocurrencies, lost over 7.5% of its value in the past week alone.

Market Tensions Add to Uncertainty

Geopolitical tensions between the United States and Russia have added to market stress. Former Russian President Dmitry Medvedev issued threats against the US following ultimatums regarding a cease-fire agreement. TRUMP responded by ordering two nuclear submarines to move to “appropriate regions.”

These escalating tensions coincide with fading expectations for Federal Reserve rate cuts. Polymarket traders now assign a 70% probability to a September rate cut, up from earlier in the week. The shift came after the weak jobs data raised concerns about economic growth.

Despite his recent selling and bearish short-term outlook, Hayes maintains long-term bullish targets. He previously stated year-end price targets of $250,000 for bitcoin and $10,000 for Ethereum. Hayes is scheduled to speak at the WebX Asia conference in Tokyo on August 25.

Some analysts disagree with predictions of major crypto corrections. Bloomberg ETF analyst Eric Balchunas noted that Bitcoin has shown “much less volatility” since BlackRock filed for a spot Bitcoin ETF in June 2023.

Hayes currently holds $28.3 million in crypto assets with most funds parked in USDC stablecoin as he awaits clearer market direction.