Arthur Hayes Sells $22 Million in Crypto and Stays on the Sidelines
The BitMEX co-founder sold through Maelstrom's directional book and is now taking a wait-and-see approach, after previously making a bullish call on Bitcoin.
Key Takeaways
- Arthur Hayes sold about $22.28 million worth of crypto from Maelstrom's directional book.
- Maelstrom's CIO said on X that he is staying on the sidelines for now.
- Earlier this month, Hayes had urged traders to go long Bitcoin, but he is now choosing to wait.
Arthur Hayes sold about $22.28 million (€19.9 million) worth of crypto from Maelstrom's directional book. The family office's chief investment officer confirmed on X that he is stepping back and staying on the sidelines for now.
Hayes Changes Course
The sale stands out because Hayes had taken a very different tone earlier this month. On October 15, he had urged traders to go long Bitcoin, but now he is choosing not to open any new positions for the time being.
Hayes is known not only as Maelstrom's CIO, but also as a co-founder of BitMEX. That means his comments and trades often get extra attention in the crypto market, especially when he shifts from a clearly bullish stance to waiting it out.
What This Says About the Market
For European crypto readers, this is especially relevant because Hayes is often seen as one of crypto's loudest macro voices. His shift shows how quickly sentiment can change, even among experienced market participants with a big reputation.
On its own, the sale says nothing about the direction of Bitcoin or other tokens, but it does fit into a period where big names are sometimes cutting back on risk. That makes his move especially interesting as a sign of caution, not as a prediction of the next price move.
