Arthur Hayes Sells Entire Hyperliquid Position, HYPE Price Drops 4%

Despite recently backing Hyperliquid (HYPE), crypto trader and BitMEX founder Arthur Hayes has dumped every last HYPE token he had — a move the market responded to almost immediately, as if the chart had been waiting for the cue.

Arthur Hayes Dumps Hyperliquid Stash Hayes sold 247,334 HYPE tokens worth roughly $18.02 million, according to monitoring platform Onchain Lens. He also offloaded an unspecified number of NEAR tokens. On social media, Hayes announced: "I just dumped my entire $HYPE and $NEAR position, I will explain why in my essay 'Reality Test' dropping next Tuesday." He listed several reasons for the selloff, starting with "higher energy prices due to Iran war and inventory restocking." Hayes also pointed to the prospect of "3 Mega AI IPOs between now and early Q3," apparently referring to the anticipated listings of SpaceX, Anthropic, and OpenAI. He added that U.S. President Donald Trump could shift his stance on AI ahead of the mid-term elections "to win mid-terms for Republicans." The implication, naturally, is that the billionaire trader is now eyeing AI-related investments.

"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

"I think highs in [markets] will happen [between] now and September," Hayes declared. So, in his view, it was simply "time to take profit." A reasonable thesis, though presumably less reasonable for the bagholders.

HYPE Price Faces Downturn After the announcement, Hyperliquid tumbled more than 4%, surrendering some of its recent gains. Data on TradingView showed HYPE trading at $69.10, down 4.29% on Thursday, June 4. The drop below the $70 level suggests the market's mood has soured, at least for now.

That said, Hyperliquid had been riding a strong multi-month uptrend, with weekly trading volume hitting a new high. The token crossed $30 in February and recently climbed past $75. The pullback caught some traders off guard, especially given that Grayscale Investments had just launched its Hyperliquid staking ETF on June 3. Hayes' liquidation also marks a clear reversal of his recent bullish stance. In earlier statements, Hayes had claimed that HYPE