Traditional Markets Decline as Influential Trader Arthur Hayes Dumps HYPE and NEAR Holdings
Traditional Markets Decline as Influential Trader Arthur Hayes Dumps HYPE and NEAR Holdings
Traditional financial markets experienced a downturn with the S&P 500, Nasdaq 100, and Dow Jones all recording losses, ending a nine-day winning streak for US stocks. This decline was attributed to geopolitical triggers.
Concurrently, prominent crypto figure Arthur Hayes, co-founder of BitMEX, revealed he has liquidated his entire holdings in Hyperliquid (HYPE) and NEAR Protocol (NEAR). This significant sell-off follows a period where Hayes had expressed high conviction in HYPE, even placing a $100,000 charitable wager on its outperformance, marking a notable shift in his crypto investment strategy.
S&P 500 futures fell 0.5% on Wednesday, June 3, after the index shed 0.74% during the session, snapping a nine-day winning streak for US stocks. Nasdaq 100 futures dropped 0.7%. The Dow Jones lost 620 points on the day, its worst single-session drop in weeks. The trigger for the US stocks' fall was geopolitical.
Arthur Hayes, co-founder of BitMEX, has revealed that he sold his entire Hyperliquid (HYPE) and NEAR Protocol (NEAR) holdings. The move follows a stretch of high-conviction posts, including a $100,000 charitable wager that the token would outperform every other top-ten asset by year’s end. Hayes has liquidated his HYPE and NEAR positions.