Crypto crashes after Arthur Hayes closes positions

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Last Updated on 5 June 2026 by CryptoTips.eu

The decline of Bitcoin’s price simply continued yesterday and spread to all major altcoins after billionaire Arthur Hayes announced that he had closed his positions. This immediately led to a sharp drop in coins such as Hype and Near.

Other well-known cryptocurrencies are also taking a hit. Ether fell to its lowest price since April of last year.

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Arthur Hayes, the best Bitcoin price predictor of recent years and one of the first crypto billionaires, seemed to deliver the death blow to the market yesterday. Hayes stated that he had closed his positions in Hype and Near because he was convinced that the crypto market would fall further.

Bitcoin dropped to $60,300, and Hype and Near (Arthur’s largest investments) dropped immediately.

According to Arthur Hayes, he will explain in detail next week why he is choosing to sell now, although he did provide a brief summary of his reasoning on X (formerly Twitter): higher energy prices due to the war with Iran (meaning small investors can invest less), 3 major IPOs that will move money out of the crypto market to the Nasdaq, and he also believes that President Trump will go anti-AI before the midterms, which in turn will be bad for technology stocks.

Commentators on social media accused Hayes of first talking Hype up and now selling it while the cryptocurrency is trading at its highest point in months.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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