Arthur Hayes, co-founder of BitMEX, has changed his stance on Bitcoin and meme coins, as seen in a recent X post. Hayes admitted he was wrong about predicting a Bitcoin crash following the Federal Reserveâs interest rate cuts.
He noted that Bitcoin held up well over the weekend, signaling his newfound bullish outlook on the broader crypto market. Hayes recommended trading meme coins, specifically referencing Iggy Azaleaâs $MOTHER token while stating itâs time to âtrade some dogshit meme coins.â
Hayes Shifts Focus to Meme Coins
Besides his change in sentiment on Bitcoin, Hayes made significant moves with his crypto holdings. In the past three days, he shifted his focus from $PENDLE to $ATH. According to Spot On Chain, Hayes deposited 1.595 million $PENDLE ($5.61 million) to Binance and Bybit.
In turn, he withdrew 16.478 million $ATH ($1.02 million) from OKX, Bybit, and KuCoin. His holdings now consist of 62.257 million $ATH ($4.1 million) and 493,463 $PENDLE ($1.98 million).
Moreover, meme coins have surged alongside Bitcoin since the Fed rate cuts, with tokens like Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), and Floki (FLOKI) experiencing double-digit gains.
