Arthur Hayes Exits HYPE and NEAR Positions Despite Earlier Bullish Calls

Highlights:

• Arthur Hayes sold his entire HYPE and NEAR holdings after warning that markets could peak before September.
• The upcoming AI IPOs and rising global risks influenced his decision to reduce exposure.
• Hyperliquid processed $2.6 trillion in trading volume and hit an all-time high lately.

BitMEX co-founder Arthur Hayes sold all his HYPE and NEAR holdings after warning that markets could peak between now and September. Onchain Lens reported that Hayes sold 247,334 HYPE tokens worth about $18.02 million. Hayes said he will explain the sale in an essay titled “Reality Test,” which he plans to release next Tuesday.

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Arthur Hayes Sells HYPE and NEAR, Warns Market May Peak Before September

BitMEX co-founder Arthur Hayes said he has sold all of his HYPE and NEAR holdings and will explain the move in his upcoming essay "Reality Test" next week. Hayes cited rising energy prices from the Iran war… pic.twitter.com/QBqXoOup8n

— Wu Blockchain (@WuBlockchain) June 4, 2026

Hayes sold the positions after concluding that current market conditions favor profit-taking. The move attracted attention because Hayes had recently promoted HYPE and NEAR through market forecasts and public statements.

Arthur Hayes said financial markets could reach a peak between now and September before losing momentum. He sold HYPE and NEAR because he believes current market conditions favor reducing risk. The sale reflected Hayes’ concerns about broader market conditions rather than Hyperliquid or NEAR fundamentals.

HYPE is currently trading at around $65.85, with a 9.26% decrease in the past day. However, its trading volume is up by 8.32% to $1.69 billion, while the market cap stands at $16.69 billion. HYPE recorded multiple all-time highs during the past month, with a record high of $74.8 as traders increased activity across Hyperliquid’s perpetual futures markets.

Growing Risks Push Shift in Strategy

Hayes cited rising energy prices linked to the conflict involving Iran as one reason for the sale. He also said inventory restocking could increase costs and create pressure across financial markets.

Hayes also cited expected IPOs involving OpenAI, Anthropic, and SpaceX. He said those IPOs could draw capital away from cryptocurrencies and other speculative investments. According to Hayes, investors may shift funds toward artificial intelligence opportunities if those companies enter public markets.

Arthur Hayes said President Donald Trump could change his AI stance before the U.S. midterm elections. He also said changes in AI policy could affect how investors allocate capital. Hayes believes political developments and artificial intelligence trends could influence market sentiment during the coming months.

Hayes said President Donald Trump could change his AI stance before the U.S. midterm elections. He also said changes in AI policy could affect how investors allocate capital. Hayes believes political developments and artificial intelligence trends could influence market sentiment during the coming months.

Arthur Hayes Doubles Back on $100K Wager and $150 Forecast

The sale drew attention because it contradicted Hayes’ earlier Hyperliquid forecasts. In March, Hayes identified HYPE as one of his strongest liquid crypto investments. He also projected a $150 HYPE price target by August this year. Hayes previously said HYPE might overtake Solana before the current bull market ends.

The sale also came weeks after Arthur Hayes challenged Multicoin Capital co-founder Kyle Samani to a public wager. Hayes proposed the wager after Samani criticized Hyperliquid’s structure and design. Under the wager, HYPE must outperform any altcoin with a market value above $1 billion between February 10 and July 31. The losing side would donate $100,000 to a charity selected by the winner.

Since $HYPE is bad @KyleSamani let's make a bet.

I bet that from 00:00 UTC 10 Feb 2026 to 00:00 UTC 31 July 2026 $HYPE will out perform any shitcoin >$1bn mcap on coingecko in USD terms. You choose your champion.

Loser donates $100k to a charity of the winner's choice. https://t.co/9n3TjxiRPk

— Arthur Hayes (@CryptoHayes) February 8, 2026

Despite the sale, Hyperliquid has continued posting strong growth metrics. The platform processed about $2.6 trillion in notional trading volume last year. That volume exceeded Coinbase’s reported $1.4 trillion trading volume during the same period. Hyperliquid also expanded derivatives trading activity as geopolitical tensions took center stage.

In a related development, Grayscale launched a Hyperliquid staking ETF that starts trading today. The ETF is expected to boost the price despite the sale by Hayes.

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