Bitcoin News Today: Arthur Hayes Sells $13M in Crypto Amid Bitcoin Slide and Weak Jobs Data

Arthur Hayes, co-founder of BitMEX, has significantly reduced his cryptocurrency holdings amid growing concerns that Bitcoin could retreat to $100,000. On-chain data from Arkham Intelligence indicates that Hayes sold over $13 million in digital assets, including $8.32 million in Ethereum (ETH), $4.62 million in Ethena (ENA), and $414,700 in the meme token PEPE. His current portfolio is now worth $28.3 million, with $22.95 million converted into USDC, signaling a strategic shift in response to macroeconomic headwinds [1].

Hayes cited weak U.S. job market data as a key factor driving his decision. The July Non-Farm Payrolls report showed the addition of 73,000 jobs, far below expectations. This softness in employment data has raised concerns about broader economic strain, with slower job growth likely to impact consumer spending and investor confidence. Additionally, Hayes highlighted the subdued credit expansion in major economies, noting that sluggish credit growth can stall economic momentum and place downward pressure on both traditional and digital assets [1].

The impact of these macroeconomic concerns is already visible in the crypto market. Bitcoin has fallen over 7% from its peak of $123,000, reaching a level that could represent an 18.7% correction if it drops to $100,000. Ethereum has also seen a sharp decline, down more than 12% from its recent high of nearly $3,900. Hayes predicts Ether could fall to around $3,000 in the short term [1]. These movements contrast with some analysts’ more optimistic outlooks, although Hayes’ sell-off reflects a cautious stance on near-term price direction.

Despite the market pullback, institutional interest in crypto remains robust. Corporate treasuries have allocated over $86 billion to digital assets in 2025, with analysts estimating that more than $60 billion in new institutional capital has entered the market this year. However, Bitcoin’s continued dominance above 60% indicates that capital remains concentrated in top-tier assets. The Altcoin Season Index remains low at 36, signaling limited broader market participation and ongoing hesitation outside of Bitcoin and Ethereum [1].

Hayes also warned that the tariff impact could weigh on markets during the third quarter. Slowing trade activity, inflationary pressures, and rising borrowing rates are negatively affecting risk sentiment, potentially leading to reduced investments in high-risk assets like crypto. His remarks underscore the growing unease among investors who are closely monitoring macroeconomic developments for signs of volatility.

Source: [1] Arthur Hayes Trims Crypto Portfolio Amid Fears Bitcoin Could Fall to $100K (https://cryptonewsland.com/arthur-hayes-trims-crypto-portfolio-amid-fears-bitcoin-could-fall-to-100k/)