Arthur Hayes Says Crypto Crash Isn’t Over, Sees Second Wave Coming As “TradFi Over-Leveraged Muppets’’ Surface

BitMEX co-founder Arthur Hayes mentioned the crypto market crash isn’t over but and warned of an impending second wave as “TradFi over-leveraged muppets” begin to floor.

If there’s going to be a bailout, the market “must ship extra ache by Fri,” he wrote in an Aug. 6 submit on X. “Benefit from the respite for the struggle shall proceed,” he warned.

BTC And ETH Unable To Erase Weekly Losses

The warning from Arthur Hayes comes as markets recuperate from a battering on Monday. The Nikkei 225 index soared greater than 10% within the final 24 hours after it fell 12% throughout yesterday’s buying and selling session.

Equally, the crypto market cap rose over 9% to about $1.9 trillion previously 24 hours.

Crypto market leaders Bitcoin (BTC) and Ethereum (ETH) have been in a position to climb greater than 9% and 12%, respectively, within the final 24 hours. ETH bounced again after a 7-month low yesterday, whereas the flagship crypto reclaimed the $55K help after briefly falling under $50K on August 5.

Nonetheless, BTC and ETH’s features weren’t sufficient to push their weekly performances out of the crimson. Bitcoin’s value was nonetheless down over 16% on the longer-term timeframe, whereas Ethereum was down greater than 24% over the previous 7 days.

ARK Make investments CEO Simply As Cautious As Arthur Hayes

Arthur Hayes shouldn’t be the one influential determine warning about danger within the markets after yesterday’s massacre. Ark Make investments CEO Cathie Wooden famous in an Aug. 6 thread on X that the Fairness Volatility Index (VIX) not too long ago shot as much as 65, its fourth-highest degree in 40 years.

After I recorded “ITK” on Friday, right this moment the VIX (Fairness Volatility Index) shot as much as 65, the fourth highest degree previously 40 years: after “portfolio insurance coverage” failed on Black Monday in October 1987, Lehman went underneath in 2008, and COVID hit in 2020. What does this transfer imply? https://t.co/5upiKbuiWd

— Cathie Wooden (@CathieDWood) August 6, 2024

Wooden mentioned that the one durations the index has been greater have been throughout Black Monday in October 1987, the collapse of Lehman Brothers in 2008, and when COVID hit in 2020.

The excessive VIX studying signifies buyers anticipate excessive volatility within the coming 30 days.

Wanting For Protected Havens Amid The Turbulence

Presale meme cash that aren’t but on the mercy of the open market could possibly be one possibility for crypto buyers searching for shelter from this potential storm. 

Amongst analyst favorites proper now are the layer-2 meme coin Pepe Unchained (PEPU), Base chain token Base Dawgz (DAWGZ) and the P2E undertaking PlayDoge (PLAY).

PEPU has already raised greater than $7.4 million and is providing presale consumers a 267% APY, whereas PLAY has moved to inside a whisker of $6 million raised because it revitalizes the viral Tamagotchi sport that was a 90s sensation.

Base Dawgz goals to problem the dominance of the meme coin Brett on the Base blockchain and is providing buyers at this early stage a 956% annual return in the event that they stake their tokens.

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