Arthur Hayes, the former BitMEX CEO, has sold his entire positions in HYPE and NEAR tokens this month, reversing a previously optimistic outlook. The move is tied to growing macroeconomic and geopolitical risks that Hayes believes are souring sentiment across crypto markets. The sale signals a potential shift among large holders and could add pressure to both tokens in the near term.
Why Hayes reversed course
Hayes had been a vocal supporter of both projects, but his decision to exit entirely marks a stark turnaround. He attributed the sell-off to a deteriorating macro environment and heightened geopolitical uncertainty — factors he argued make it too risky to hold long positions right now. The timing suggests he sees more downside or at least prolonged volatility ahead, even for assets he previously backed.
What the sale says about market mood
Hayes isn't the first big name to trim risk this quarter. His exit reinforces a cautious tone that has been creeping into crypto, as traders price in interest rate moves and geopolitical flashpoints. The fact that he dumped everything — not just a portion — implies a conviction that the headwinds are serious. That kind of signal from a prominent trader tends to ripple through the retail crowd.
Impact on HYPE and NEAR
Neither token has commented on the sale, but the market is watching. Hayes' position size isn't public, but his status means the exit will likely weigh on sentiment. HYPE and NEAR have both been volatile this month, and the sell-off could amplify existing selling pressure. Some traders may now question whether other insiders are also reducing exposure.
What comes next
Hayes hasn't announced where the proceeds are going or whether he plans to re-enter. For now, the market is left wondering if this is a tactical retreat or a longer-term shift in his strategy. The next few weeks will show whether other whales follow his lead or if the sell-off is an isolated move.
