Arthur Hayes Sells $26M in Crypto as Market Signals Emerge

Hayes' Strategic Retreat

On October 24, Hayes stated he realized profits. These profits came from Ethereum (ETH), Ethena (ENA), and Uniswap (UNI). He cited growing macroeconomic and geopolitical uncertainties. This move followed a Santiment report on October 23. That report noted the largest net daily ETH outflow in over four months.

Transaction Breakdown

On-chain analyst EmberCN detailed the sales. Hayes sold roughly $26 million in crypto. Nearly three-quarters of this was Ethereum. Specific sales included 8,000 ETH valued near $19 million. He also sold 14 million ENA worth $3 million. Furthermore, 323,000 UNI tokens were sold for $2 million. Other assets included 1.89 million ETHFI ($1 million). Sales also covered 547,000 AERO ($400,000), 120,000 PENDLE ($240,000), and 3 million ZAMA ($210,000).

Market Outlook and Pivots

Hayes framed these actions as simple profit-taking. He quoted, „we believe we must come down to go up.”He will remain a spectator until the market signals clearly. This differs from his September optimism. Previously, he targeted $10,000 for ETH by year-end.

Santiment's Outflow Data

Santiment's October 23 analysis showed 169,770 ETH left exchanges net. This was the biggest four-month extraction. Analysts see this as reduced immediate sell supply. A $2,400 level is an immediate pivot for ETH. Above $2,500 suggests a consolidated base. Below $2,330 weakens that optimistic view. This outflow mirrors a June 5 event near a local low.

Long-Term vs. Short-Term Bets

Maelstrom views Bitcoin as a long-term structural hold. ETH and DeFi tokens were seen as more speculative. His recent announcement abandons short-term directional bets. This does not confirm selling long-term Bitcoin exposure. The next Fed meeting on October 27–28 is key. It will inform central bank policy.