Arthur Hayes, chief investment officer at Maelstrom, has liquidated approximately $22.28 million in cryptocurrency holdings. The sell-off included 6,400 ETH valued at $15.2 million, 14 million ENA tokens for $2.76 million, and 323,000 UNI tokens for $2.24 million.
The portfolio exit also involved the sale of 1.89 million ETHFI tokens, alongside stakes in Aerodrome Finance, Pendle, and Zama. According to Lookonchain data, the recent positions in AERO, PENDLE, and ZAMA were sold for roughly $856,000, resulting in a loss of approximately $33,000.
Hayes stated that the decision to exit the market was driven by concerns over macroeconomic and geopolitical risks. He noted that he intends to remain on the sidelines until market conditions improve. This move marks a reversal from his October 15 stance, when he encouraged long positions in BTC and ETH.
The broader market has faced significant pressure, with crypto liquidations reaching $942.1 million within a 24-hour period on October 15. Additionally, on October 23, the Nasdaq index declined by 2.6%, while Bitcoin prices trended toward $81,400 amid rising inflation concerns.
Market participants are now awaiting the Federal Reserve's upcoming policy decision scheduled for October 28. CME FedWatch data indicates a 90% probability that the central bank will maintain current interest rates. Previous Fed data showed that officials anticipated further rate hikes by the end of the year.
