BitMEX co-founder Arthur Hayes has made a splash in the crypto world with his recent investment moves. Hayes believes that Bitcoin is headed for a dip and has placed a bearish bet by purchasing puts expiring in March 2024 that profit if the price falls below $35,000. To free up capital for this bet, he sold his holdings in Solana and Bonk at a slight loss. If his prediction holds true, Hayes plans to “bottom fish” for undervalued buying opportunities.
BitMEX co-founder Arthur Hayes recently predicted that Bitcoin’s price will fall below $40,000 due to macroeconomic factors. He has purchased some 29Mar $35k strike puts and believes that Bitcoin’s decline will continue until the 31Jan US Treasury quarterly refunding announcement. Hayes may have purchased put options at a price of 0.025 BTC per share, with a total value of 5 BTC.
In a stark analysis, BitMex founder Arthur Hayes unveils the seismic impact of the imminent approval of a Bitcoin Exchange Traded Fund (ETF). Tracing the roots of Bitcoin’s emergence as a financial lifeline outside traditional systems, Hayes navigates through the financial crises of the past, highlighting Bitcoin’s resilience in the face of adversity.
he winds of change are blowing in the Bitcoinsphere, and BitMEX founder Arthur Hayes is at the helm, predicting a potential shift in price discovery if the anticipated Bitcoin spot ETF explodes onto the scene. In a recent blog post, Hayes paints a vivid picture of massive fund managers setting up global distribution networks, funneling billions into the ETF and dramatically increasing trading volume. This, he argues, could lead to a fascinating phenomenon: the center of gravity for Bitcoin price discovery migrating from the East, where Binance currently reigns supreme, to the Western financial hubs.
Arthur Hayes, the founder of cryptocurrency exchange BitMEX, said he expects Bitcoin to experience a healthy correction of 20% to 30% from its current level by early March, and possibly more if the US-listed spot Bitcoin ETFs start trading by then.
Arthur Hayes, the co-founder and former CEO of BitMEX, a leading crypto derivatives exchange, has been selling off his holdings in ENS, FXS, and LOOKS, three Ethereum-based tokens, in the past few days. He reportedly lost more than $5 million, as the prices of these tokens plummeted by more than 50% since their peaks. Hayes then switched to buying ETH, GMX, and PENDLE, three other Ethereum-based tokens, with a total value of about $15 million. Hayes’s trading activity reflects his changing views on the crypto market, as he moves from more speculative and niche tokens to more established and mainstream ones. It also shows his confidence in the Ethereum ecosystem, which hosts the largest number of decentralized applications and users in the crypto space.