Hayes argued that no major global economy is currently expanding credit at a pace sufficient to support nominal GDP growth. He warns that this stagnation could create conditions that could put downward pressure on risk assets like cryptocurrencies. Notably, the BitMEX co-founder’s bearish outlook for both Bitcoin and Ethereum underscores the impact that macroeconomic and geopolitical factors tend to have on the digital asset market.
Within just six hours, Hayes reportedly sold approximately 2,373 ETH valued at $8.32 million, along with 7.76 million ENA tokens worth $4.62 million. He also exited a massive position in PEPE, selling 38.86 billion tokens for roughly $414,700.
