{"id":561242,"date":"2024-08-06T12:58:34","date_gmt":"2024-08-06T12:58:34","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=561242"},"modified":"2024-08-06T12:58:34","modified_gmt":"2024-08-06T12:58:34","slug":"arthur-hayes-says-crypto-crash-isnt-over-sees-second-wave-coming-as-tradfi-over-leveraged-muppets-surface","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/arthur-hayes-says-crypto-crash-isnt-over-sees-second-wave-coming-as-tradfi-over-leveraged-muppets-surface","title":{"rendered":"Arthur Hayes Says Crypto Crash Isn\u2019t Over, Sees Second Wave Coming As \u201cTradFi Over-Leveraged Muppets\u2019\u2019 Surface"},"content":{"rendered":"

BitMEX co-founder <\/span>Arthur Hayes<\/span><\/a> said the crypto market crash isn’t over yet and warned of an impending second wave as “TradFi over-leveraged muppets” start to surface.<\/span><\/p>\n

If there is going to be a bailout, the market “needs to deliver more pain by Fri,” he wrote in an Aug. 6 <\/span>post<\/span><\/a> on X. “Enjoy the respite for the war shall continue,” he warned.<\/span><\/p>\n

\"1,000+<\/p>\n

BTC And ETH Unable To Erase Weekly Losses<\/span><\/h2>\n

The warning from Arthur Hayes comes as markets recover from a battering on Monday. The <\/span>Nikkei 225<\/span><\/a> index soared more than 10% in the last 24 hours after it fell 12% during yesterday’s trading session. <\/span><\/p>\n

Similarly, the crypto market cap rose over 9% to about $1.9 trillion in the past 24 hours.<\/span><\/p>\n

Crypto market leaders Bitcoin (BTC) and Ethereum (ETH) were able to climb more than 9% and 12%, respectively, in the last 24 hours. ETH bounced back after a 7-month low yesterday, while the flagship crypto reclaimed the $55K support after briefly falling below $50K on August 5.<\/span><\/p>\n

However, BTC and ETH’s gains were not enough to push their weekly performances out of the red. Bitcoin’s price was still down over 16% on the longer-term timeframe, while Ethereum was down more than 24% over the past 7 days.<\/span><\/p>\n

ARK Invest CEO Just As Cautious As Arthur Hayes<\/span><\/h2>\n

Arthur Hayes is not the only influential figure warning about risk in the markets after yesterday’s bloodbath. <\/span>Ark Invest<\/span><\/a> CEO Cathie Wood noted in an Aug. 6 thread on X that the Equity Volatility Index (VIX) recently shot up to 65, its fourth-highest level in 40 years.<\/span><\/p>\n

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After I recorded “ITK” on Friday, today the VIX (Equity Volatility Index) shot up to 65, the fourth highest level in the past 40 years: after “portfolio insurance” failed on Black Monday in October 1987, Lehman went under in 2008, and COVID hit in 2020. What does this move mean? https:\/\/t.co\/5upiKbuiWd<\/a><\/p>\n

— Cathie Wood (@CathieDWood) August 6, 2024<\/a><\/p><\/blockquote>\n