- Arthur Hayes cashed out HYPE for quick gains despite predicting massive upside, showing how traders balance vision with profit.
- Hyperliquid faces heavy swings as whales move millions, RSI signals weakness, and traders eye the $50 support for direction.
- Hayes’ surprise exit and CZ’s backing of Aster highlight shifting competition that forces crypto traders to rethink their strategies.
A major move shook Hyperliquid (HYPE) markets as Lookonchain revealed a whale withdrawal of 2.39 million tokens worth $122 million.
The tokens belonged to a wallet tagged to Techno_Revenant, suggesting potential selling pressure in the near term. Moreover, the cost basis was estimated near $12, leaving the holder with over $90 million in paper profits.
At the same time, Arthur Hayes sold 96,600 HYPE tokens on September 21, worth around $5.1 million. He had only held the position for one month, yet he exited with a profit of $823,000 or roughly 19%. Consequently, the move surprised traders since Hayes had recently projected that HYPE could soar as much as 126 times.
Hayes’ Bold Forecast Versus Quick Exit
During the WebX Summit in Tokyo on August 25, Hayes boldly predicted HYPE could eventually hit $5,000. He linked this to expanding stablecoin supply and growing retail demand for leveraged trading.
“This is the system that those in charge have chosen to create and the population is going along with it. I’m going to own the casino where the plebs are going to gamble,” Hayes said earlier this year in a podcast.
However, his quick exit raised doubts. Some saw it as contradictory, while others argued it reflected his trader mindset. Additionally, some traders pointed to Binance founder Changpeng Zhao’s promotion of rival project Aster. “Well, he would have been right if CZ hadn’t launched Aster. That was not in the original thesis. When conditions change, traders adapt,” one user commented.
Market Trends and Technical Picture
TradingView data showed HYPE changing hands at $49.18, up 1.41% during the latest session. The four-hour chart highlighted strong volatility since late August. Prices rallied from $42.50 to $58.50 in mid-September before correcting sharply. The decline of 16% reflected broad profit-taking.
Moreover, RSI slipped to oversold levels at 26.20, signaling weakening bullish strength. Accumulation/Distribution remained steady at 5.55 million, showing balanced market pressure. Hence, the $50.00 level has emerged as a critical support line.
Hayes’ sale underscored the clash between bold long-term visions and short-term trading instincts. Consequently, traders must balance conviction with market realities.
