Co-founder of the exchange #BitMEX Arthur Hayes stated that $BTC could drop to $100,000, and $ETH could fall to $3,000. According to him, rising tariffs, stagnation in the credit market, and a slowdown in job creation create an unfavorable backdrop for cryptocurrencies.

Hayes noted that the key trigger was the weak increase in employment in the U.S. non-farm sector. In July 2025, only 73,000 jobs were created in the country, which the analyst regarded as a worrying signal for the economy. Against this backdrop, he decided to lock in profits by selling Ethereum, Ethena, and $PEPE for over $13 million.

According to Arkham Intelligence, the entrepreneur had $28.3 million in assets left in his wallet after these transactions, of which $22.95 million consisted of USDC stablecoins.