Arthur Hayes Exits HYPE and NEAR Citing Iran War and AI IPOs

BitMEX co-founder Arthur Hayes has exited his entire positions in HYPE and NEAR. He cites growing macroeconomic risks and concerns about market liquidity in the months ahead. The move surprised many traders because Hayes had recently made one of the crypto industry’s most bullish calls on Hyperliquid. 

He previously predicted HYPE could outperform every top-10 cryptocurrency by market capitalization this year. In his view, it even entered a $100,000 charity bet defending that view. But new on-chain data shows Arthur Hayes has now sold 247,334 HYPE tokens worth roughly $18 million. Along with an undisclosed amount of NEAR. 

In a post on X, Hayes revealed that he had completely exited both positions and plans to explain the decision in an upcoming essay titled “Reality Test.” “I just dumped my entire $HYPE and $NEAR position,” Hayes wrote. He added that his decision was driven by several factors. That includes rising energy prices, major artificial intelligence IPOs and changing political sentiment around AI in the United States.

Why Arthur Hayes Sold HYPE and NEAR

According to Hayes, the biggest concern is the possibility of a market peak forming between now and September. He pointed to higher energy costs caused by the ongoing Iran conflict and global inventory restocking. Rising fuel prices could increase inflationary pressures and create headwinds for risk assets.

Hayes also highlighted the possibility of three major AI companies entering public markets in the coming months. Industry observers expect firms such as OpenAI and Anthropic to pursue public listings. This could attract significant investor capital away from crypto markets.

Additionally, Hayes believes former President Donald Trump could adopt a more skeptical stance toward AI ahead of the U.S. midterm elections. “I think highs in markets will happen between now and September,” Hayes said. He added that it was time to take profits and reduce exposure.

Hyperliquid Faces New Market Questions

The announcement immediately sparked discussion across the Hyperliquid news community. Many traders noted that Hayes remains one of Hyperliquid’s most influential supporters. Shortly after announcing the sale, he reassured followers that he still supports the ecosystem. When asked whether he would keep his Hyperliquid themed profile picture, Hayes replied, “Obvi – I’ll be back.”

The response suggests his decision may be driven by broader market conditions rather than concerns about Hyperliquid itself. Despite the sale, the Hyperliquid price remained relatively stable around the $71 level following the announcement.

What This Means for Investors and Developers

For investors, Hayes’ move serves as a reminder that even long term believers often lock in profits during uncertain periods. His concerns about energy costs, liquidity conditions and AI IPO competition could influence broader market sentiment throughout the summer.

For developers, the comments highlight how external macroeconomic events increasingly affect blockchain ecosystems. Even projects with strong fundamentals can experience volatility when global capital shifts toward other sectors. The situation also underscores the growing competition between crypto and artificial intelligence for investor attention.

Market Outlook Remains Uncertain

The latest comments from Arthur Hayes arrive at a critical moment for the industry. While many analysts remain optimistic about Bitcoin and digital assets over the long term, short-term risks continue to build. Geopolitical tensions, inflation concerns and upcoming AI listings could all influence market direction in the months ahead. For now, crypto news headlines remain focused on Hayes’ unexpected exit. But traders will likely pay even closer attention next week when his full “Reality Test” essay is released. Until then, the debate over the future of HYPE, Bitcoin and the broader market is likely to continue.

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