Want to Know Why the Market Is Dropping, Look at What Arthur Hayes Is Doing

• Ethereum leads crypto drop, falling over 5% in 24 hours.
• Arthur Hayes sold $13M in ETH, ENA, and PEPE today.
• Hayes warns of Q3 tariffs, weak job data, slowing credit.

The crypto market faced a sudden and steep sell-off today, with Ethereum leading the drop, falling over 5% in the last 24 hours. Adding to the market wide sell-off, Arthur Hayes, analyst and co-founder of BitMEX, sold off a portion of his holdings as well: 2,373 ETH worth around $8.32 million, 7.76 million ENA tokens worth $4.62 million, and 38.86 billion PEPE tokens valued at $414,700, all within just six hours.

Many were left wondering why Hayes, known for his strategic market calls, chose to sell instead of buying the dip. According to Hayes, the answer lies in the economic outlook. He warned that the US will soon face serious pressure from upcoming Q3 tariff payments and pointed out the disappointing non-farm payroll data, which shows weakening job growth. 

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