Arthur Hayes Bearish on Market Outlook, Cuts Positions by Ab
On October 24, 2026, on-chain analyst Yu Jin (余烬) monitoring showed that BitMEX co-founder Arthur Hayes reduced his holdings of various tokens worth approximately $26.08 million due to a bearish outlook on the market, covering ETH, ENA, UNI, ETHFI, AERO, PENDLE, ZAMA, among others. Hayes stated that he has fully exited the Maelstrom designated account and plans to wait until macro and geopolitical signals become clear before re-entering.
Event Timeline
- [10-24 08:53] Arthur Hayes reduces holdings by approximately $26.08 million on a bearish outlook, fully exiting Maelstrom and waiting to re-enter (Wu Blockchain)
- [10-24 08:54] $26.08 million worth of various tokens reduced, Arthur Hayes bearish on the market (Odaily Planet Daily)
- [10-24 08:59] Arthur Hayes reduces holdings of tokens worth approximately $26.08 million (PANews)
Background and Impact
On the morning of October 24, multiple crypto media outlets reported that on-chain analyst Yu Jin monitoring detected a large-scale reduction in holdings by BitMEX co-founder Arthur Hayes. Wu Blockchain, Odaily Planet Daily, and PANews published their reports at 08:53, 08:54, and 08:59 respectively. The three sources gave consistent totals for the reduction, all at approximately $26.08 million, involving multiple tokens. According to Yu Jin monitoring, Hayes himself stated that he was bearish on the market.
In terms of the breakdown, Odaily Planet Daily disclosed the most complete data: 8,000 ETH at $2,369.18 per unit, worth $19 million; 14 million ENA at $0.191 per unit, worth $2.76 million; 323,000 UNI at $6.85 per unit, worth $2.24 million; 1.89 million ETHFI at $0.635 per unit, worth $1.23 million; 547,000 AERO at $0.716 per unit, worth $400,000; 120,000 PENDLE at $2 per unit, worth $240,000; 3 million ZAMA at $0.0706 per unit, worth $210,000. The tokens, quantities, and values given by PANews matched those of Odaily. Wu Blockchain's report listed only ETH, ENA, and UNI, with the word "including" before ETH, without mentioning the remaining tokens — this was an abbreviated enumeration rather than a data conflict. Notably, Wu Blockchain converted the ETH to "approximately $19 million," and Odaily and PANews likewise gave a value of $19 million. The three outlets showed no divergence on the amounts for any individual token.
Regarding the disposal of holdings, Wu Blockchain reported that Hayes stated he had fully exited the Maelstrom designated account and plans to wait until macro and geopolitical signals become clear before re-entering. The other two sources only reported the fact of the reduction, without mentioning the disposal of the Maelstrom account or subsequent plans. All three reports cited Yu Jin's on-chain monitoring as their source, with no direct quotation of Hayes's original social media posts.
For the Ethereum market, Hayes's publicly bearish stance, combined with a reduction of nearly $26.08 million in holdings — in which ETH accounted for the largest share at approximately $19 million, close to three-quarters of the total — is significant. Hayes formerly served as co-founder of BitMEX, and his holdings movements have always attracted market attention. As of press time, all of the above information has been cited from Yu Jin's monitoring data, with no cross-validation from other independent on-chain analyses. Users interested in mainstream exchange markets can view real-time quotes for ETH and related tokens through channels such as Huobi HTX registration app download, Gate.io registration app download, Bitget registration app download, Binance registration app download, and OKX registration app download.
Frequently Asked Questions
### Which tokens were involved in this reduction by Hayes, and what proportion did ETH account for?
According to Yu Jin monitoring, the reduction involved seven tokens: ETH, ENA, UNI, ETHFI, AERO, PENDLE, and ZAMA, with a total of approximately $26.08 million. Among them, 8,000 ETH worth approximately $19 million accounted for about 70% of the total, making it the largest component of this round of reductions.
### What does Hayes mean by "fully exiting the Maelstrom designated account"? When will he re-enter?
According to Wu Blockchain's report, Hayes stated that he had fully exited the Maelstrom designated account but plans to wait until macro and geopolitical signals become clear before re-entering. The source did not disclose the specific composition of the Maelstrom designated account, nor did it provide a clear re-entry timeline, only stating that he was "waiting for signals to become clear."
### Is the original source of this event reliable?
The data reported by Wu Blockchain, Odaily Planet Daily, and PANews was consistent, but all three cited on-chain analyst Yu Jin's monitoring, with no direct quotation of Hayes's original posts. The quantities and amounts for each token showed no divergence among the three sources.