Crypto crashes after Arthur Hayes closes positions

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.

Dump

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.

I just dumped my entire $HYPE and $NEAR position, I will explain why in my essay “Reality Test” dropping next Tuesday.

TLDR:

• Higher energy prices due to Iran war and inventory restocking
• 3 Mega AI IPOs between now and early Q3
• Prediction that Trump goes anti-AI to win…

— Arthur Hayes (@CryptoHayes) June 4, 2026

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.