In a statement dated October 24, Arthur Hayes said he took profits and exited Ethereum and altcoin positions in Maelstrom’s directional trading portfolio, and would wait for the outlook to become clearer before taking on risk again.
In a post that the ScoreArenaAI account brought back into focus on October 27, Hayes said he had closed positions in various crypto assets, including Ethereum (ETH), Ethena (ENA), and Uniswap (UNI). The statement concerned Maelstrom’s portfolio, which trades based on expectations for the market’s direction.
Hayes’s message did not include the amount sold or the size of the profits. The focus of the post was his preference to wait rather than open new positions after taking profits.
“We Need to Fall Before We Can Rise”
Hayes described his market outlook by saying, “I think we need to fall before we can rise.” He said he viewed the macroeconomic and geopolitical outlook as risky and would stay on the sidelines until a clearer signal emerged.
With this statement, Hayes took a cautious stance in the short term without completely ruling out the possibility of a rise over the long term. He did not give a specific price level or date for buying again, tying his decision to wait to a clearer picture of market conditions.
Not investment advice.