Arthur Hayes said Maelstrom closed all of its directional trading positions, taking profits in Ethereum and some altcoins, and that he believes the market could fall before rising.
In comments reported by Wu Blockchain, Hayes said the closed positions included Ethereum (ETH), Ethena (ENA), and Uniswap (UNI), as well as other altcoins. The decision covers Maelstrom’s entire directional trading portfolio.
Why did Hayes choose to wait?
Behind Hayes’s cautious approach are macroeconomic and geopolitical uncertainties. Believing the market may need to pull back before rising again, Hayes chose to take profits and wait rather than hold positions in this environment.
Hayes said he wants to see a clear signal that the uncertainties have eased before trading again and plans to stay out of the market for now.
Not investment advice.