Key Notes
- Arthur Hayes has offloaded over $7.42 million in crypto in just two days.
- His timing on Ethereum trades is historically poor, with many eyeing a price rally ahead.
- Sell-off comes amid a $250B crypto market wipeout and rising fear sentiment.
BitMEX co-founder Arthur Hayes has rapidly sold off a major portion of his crypto holdings as the market faced heavy losses over the weekend.
On-chain data shows Hayes unloaded more than $7.42 million worth of tokens across six different cryptocurrencies in just 48 hours.
According to data shared by OnchainLens, in the past two days, Hayes sold 1,480 ETH worth $4.7 million.
Arthur ( @CryptoHayes ) has further sent 320,000 $LDO worth 239K into #WinterMute .
In the past 2 days, Arthur sold $7.4M worth of $ETH , $ENA , $LDO , $AAVE , $UNI , and $ETHFI .
Address: 0x6cd66dbdfe289ab83d7311b668ada83a12447e21 pic.twitter.com/x2f7qMkMGA
— Onchain Lens (@OnchainLens) November 17, 2025
He also sold large amounts of other altcoins , including 5,023,784 ENA ENA $0.28 24h volatility: 3.5% Market cap: $2.08 B Vol. 24h: $340.61 M , 960,000 LDO LDO $0.75 24h volatility: 0.1% Market cap: $669.58 M Vol. 24h: $109.94 M , 1,630 AAVE AAVE $179.1 24h volatility: 0.9% Market cap: $2.72 B Vol. 24h: $346.16 M , 28,670 UNI UNI $8.00 24h volatility: 4.6% Market cap: $5.03 B Vol. 24h: $1.14 B and 132,730 ETHFI ETHFI $0.90 24h volatility: 2.8% Market cap: $547.02 M Vol. 24h: $60.73 M .
A History of Poor ETH Timing
The most notable sale was his liquidation of Ethereum ETH $3 202 24h volatility: 0.9% Market cap: $386.33 B Vol. 24h: $34.31 B . Hayes has a reputation for exiting ETH at unfortunate moments.
The last time he sold ETH on August 1, he exited at the bottom of the dip and bought back at a higher price only nine days later.
Arthur Hayes( @CryptoHayes ) has sold 1,480 $ETH ($4.7M) over the past 2 days — but he's not good at trading $ETH .
The last time he sold $ETH was on Aug 1, right at the bottom, and just 9 days later, he bought $ETH back at a higher price. https://t.co/tr9zRlJBkd pic.twitter.com/YyE6wv5rEl
— Lookonchain (@lookonchain) November 17, 2025
Crypto influencer Joe commented that while Hayes is a sharp macro thinker, his Ethereum trades “always seem cursed.” He noted that ETH often rallies right after he exits.
yeah i remember that august move and it aged hilariously bad lol.
arthur’s a genius in macro vibes, but man his eth timing always feels cursed.
every time he sells, the chart instantly decides to moon just to spite him.
i’m not stressing this dump because his exits usually mark…— Joe | KOL & Alpha Crypto Influencer (@SelfSuccessSaga) November 17, 2025
Many in the community criticised Hayes for the sell-off . One X user stated that the executive trades “like retail” and often gets shaken out at the wrong time. Others said they treat his capitulation as a buy signal.
Bro trading like a retail trader. He is indeed terrible at trading. Nothing new there.
One of his worst trades this time was $ENA where he screamed buy at 0.8660 🤦♂️
— TGW Capital ⚓ (@TGWCapital_) November 17, 2025
Sell-Off Amid Market Panic
Earlier this month, Hayes claimed that the ongoing “choppy market” was just a pause before a rally. He argued that the real buying opportunity will come once the macro environment stabilizes.
The liquidation comes as the crypto market shed over $250 billion in value during the weekend. The total market cap has now dropped to $3.24 trillion amid bearish investor sentiment.
The Crypto Fear and Greed Index has also hit its lowest level of the year, flashing “extreme fear.”
Despite the panic, funds continue to flow into the crypto market. Onchain data suggests that Circle recently minted another $750 million USDC.
Funds are continuing to flow into the crypto market.
Circle( @circle ) just minted another 750M $USDC ! #Tether and #Circle have minted $14B in stablecoins after the 1011 market crash. https://t.co/RJ7MHuy63S pic.twitter.com/7LWqV1wslg
— Lookonchain (@lookonchain) November 17, 2025
Tether and Circle have issued over $14 billion in new stablecoins since the October downturn. This indicates that capital may be waiting on the sidelines for re-entry.
