Arthur Hayes Exits Altcoins, Says AI Trade Is Nearing a Peak

Arthur Hayes, co-founder of BitMEX, told Cointelegraph that he fully exited several altcoin positions, including Worldcoin, NEAR, and HYPE.

He noted that liquidity he once expected to rotate into Bitcoin has instead been absorbed by the artificial intelligence sector, resulting in weaker-than-anticipated capital flow into crypto markets.

Hayes also said that, in his assessment, the AI narrative is currently under pressure from three key issues: high energy costs, the risk of changes in U.S. policy direction, and liquidity strain linked to large IPOs involving companies such as Anthropic and OpenAI.

He added that under these conditions, he does not expect Bitcoin to remain insulated, suggesting that in a broader downturn it could decline alongside risk assets rather than act independently. Consequently, he decided to exit his positions.

Source: Cointelegraph