Bitcoin Bull Arthur Hayes Did What He Said He Would: He Started Selling an Altcoin Today

Arthur Hayes, a closely followed figure in the cryptocurrency market, has made a notable rotation in his Ethereum positions.

According to on-chain data, Hayes transferred 682 ETH (approximately $2 million) to the Binance exchange with his latest transaction, positioning it for sale. This brings his total sales in the last week alone to 1,871 ETH ($5.53 million).

Hayes’s selling activity was supported by new DeFi-focused purchases during the same period. Data shows that Hayes recently added 1.22 million ENA ($257.5 thousand), 137,117 PENDLE ($259 thousand), and 132,730 ETHFI ($93 thousand) to his portfolio.

Indeed, Hayes explicitly stated this approach in his assessment four days ago. The renowned investor said, “We are exiting ETH and moving towards high-quality DeFi projects that we believe can perform better as fiat liquidity improves.” This statement, along with the recent transactions, confirms that a strategic portfolio transformation has effectively taken place.

On the other hand, in his recently published article, Hayes put forward a striking view on the macro front as well. According to Hayes, the Fed’s newly announced “Reserve Management Purchases (RMP)” program, despite the name change, is essentially a rebranded version of quantitative easing (QE). Hayes argues that the Fed softened the terminology to avoid statements that directly refer to money printing.

Hayes argues that this process is extremely supportive for crypto markets in the long term and lays the groundwork for a potential Bitcoin price of $200,000 by 2026.