Bitcoin News Today: Arthur Hayes Cuts Crypto Exposure as Bitcoin Faces 18.7% Correction Risk

Maelstrom Fund CIO Arthur Hayes has warned that Bitcoin could fall back to $100,000 amid a wave of macroeconomic headwinds, revealing that he has already reduced his cryptocurrency exposure in anticipation of the decline. According to on-chain analytics from Arkham Intelligence, the address linked to Hayes now holds $28.3 million in tokens, with a significant portion—$22.95 million—converted into stablecoin USDC. This move reflects his strategy to cut risk ahead of potential market corrections. In a recent post on X, Hayes confirmed that he had sold $8.32 million in Ethereum, $4.62 million in Ethena (ENA), and $414,700 in Pepe (PEPE) [1].

Hayes cited weak U.S. Non-Farm Payrolls data and sluggish credit growth in major economies as key concerns. The July NFP report showed only 73,000 new jobs, far below expectations, raising fears of a potential resurgence in trade tensions and a slowdown in nominal GDP growth [1]. He argued that these macroeconomic pressures could weigh heavily on risk assets like Bitcoin and Ether, potentially pushing Bitcoin to $100,000 and Ether to $3,000. A drop to $100,000 would represent an 18.7% correction from its all-time high of $123,000 [1].

His caution stands in contrast to a growing narrative that Bitcoin’s traditional bull and bear cycles may be fading. Bloomberg’s Eric Balchunas recently noted that Bitcoin’s volatility has decreased since BlackRock’s ETF filing in mid-2023. Similarly, Mitchell Askew of Blockware Solutions suggested that the extreme price swings of the past may no longer define the market [1]. Eli Nagar, CEO of Braiins Mining, reinforced this view, stating, “Bitcoin cycles, as we know them, are dead” [1].

Despite the concerns raised by Hayes, Bitcoin remains near $113,000, while Ethereum has surged over 50% in July and remains above $3,450, driven by ETF inflows and institutional interest. However, the Altcoin Season Index is at 36, indicating that most capital remains concentrated in Bitcoin and Ethereum, with little movement into mid-cap tokens [1]. Institutional activity, including over $86 billion in corporate treasury allocations to crypto in 2025, continues to provide support for the market [1].

The broader market remains underpinned by continued inflows and strong institutional demand, but signs of strain are emerging. As Hayes and others closely monitor macroeconomic indicators, the coming months will likely test whether this bull market continues its momentum or begins to consolidate [1].

Source: [1] Arthur Hayes Says Bitcoin Could Drop to $100K, Reveals Profit-Taking Move (https://cryptonews.com/news/arthur-hayes-says-bitcoin-could-drop-to-100k-reveals-profit-taking-move/)