Why did Arthur Hayes sell major holdings in November 2025?

[cryptoenthusiast]

Hayes sold millions in ETH, ENA, LDO, AAVE, and UNI, reducing his altcoin exposure by over $20M. Analysts suggest it signals caution and possible late-cycle market exhaustion, despite his public bullish statements.

[EmTeam]

Probably a strategic rebalance — Hayes usually moves before macro shifts begin.

[Rimon Khan]

Smart money doesn’t panic sell; they reposition. This looks like that.