Hayes Dumps Altcoins as Analysts Predict New Bull Market

Former BitMEX CEO Arthur Hayes has revealed that he has sold all of his altcoin holdings, citing concerns about the growing risk surrounding the AI investment boom. According to Hayes, the main reason behind his decision is that newly created fiat liquidity has not flowed into Bitcoin as expected, but instead been absorbed by the AI sector.

In an interview, Hayes explained that 'everyone's just doing AI,' and that the AI narrative now faces three threats: rising energy costs, the possibility of policy changes in the United States, and large upcoming IPOs from companies such as Anthropic and OpenAI. He warned that if the AI trade begins to unwind, Bitcoin could initially fall alongside other risk assets rather than attract fresh capital.

Not everyone shares Hayes' cautious approach, however. Crypto analyst Michaël van de Poppe pointed out that investor appetite for altcoins has changed drastically compared to six months ago, with many altcoins already posting yearly highs and some reaching new all-time highs.