Why Did Arthur Hayes Dump All His Hyperliquid and NEAR Holdings?
BitMEX co-founder Arthur Hayes said he has sold his entire Hyperliquid and Near positions, citing macro risks, rising energy costs, and concerns that liquidity may shift toward large artificial intelligence listings in the coming months. Hayes said he will provide a fuller explanation in an essay titled “Reality Test,” scheduled for release next Tuesday.
In his initial comments, he listed three reasons for exiting HYPE and NEAR: higher energy prices tied to the Iran war and inventory restocking, three major AI IPOs expected before the early third quarter, and a view that President Donald Trump may turn against AI as part of a political strategy. 02 million, to lock in profits. Hayes had previously predicted that HYPE could reach $150, but his latest sale shows a shift toward risk reduction after a strong rally in the token.
Arthur Hayes Cites Energy, AI IPOs, and Market Timing Hayes said the market could peak between now and September, leading him to take profits on HYPE and NEAR. His comments came as crypto markets face pressure from geopolitical uncertainty, a weaker altcoin tape, and capital rotation toward AI-linked equities. The reference to energy prices is tied to concerns that higher fuel and electricity costs could pressure inflation and reduce the chance of easier monetary policy.
At the same time, upcoming large AI IPOs may compete for investor capital, especially if public markets continue rewarding artificial intelligence companies. Hayes also said Trump could move against AI politically. He did not provide full details in the short post, but said the argument would be explained in the upcoming essay.
” The sale created attention because Hyperliquid has been one of the strongest crypto market stories in 2026. The project’s perpetual futures volume has continued to rise relative to centralized exchanges, even as broader crypto trading has weakened. 63% of total global centralized exchange perpetual volume.
4% relative to Binance, another record for the platform. The growth was partly driven by Hyperliquid’s HIP-3 framework, which produced more than $62 billion in May volume and about $3 billion in open interest. However, pure crypto perpetual volume on Hyperliquid still declined year over year, showing that broader market conditions remain difficult.
Source: X Institutional activity around HYPE has also grown. 29% fee. Existing Hyperliquid ETFs, THYP and BHYP, have already attracted $141 million in cumulative net inflows.
7 million HYPE has been staked to Bitwise Onchain Solutions validators. 4 million HYPE in BHYP, along with several million tokens from other institutional owners, platforms and individuals. Even with those demand channels, whale positioning has started to narrow.
01 billion, suggesting a possible shift in large-holder positioning. 50 re-accumulation zone. The token recently approached the upper boundary of its long-term rising channel and stalled near the $83 to $95 resistance area.
Source: X A clean 3-day close above $83 to $95 would be needed to reduce rejection risk and reopen upside levels near $110 to $130. Without that breakout, the current zone may continue to act as resistance. The first major downside level for HYPE price sits near $59 to $60.
50 range. A move into that lower zone would mark a deeper correction but would not end the broader rising-channel structure unless price breaks below it. 55.
8% on the referenced chart. 01. 30 remains possible.
55. 65.
