Arthur Hayes Analyzes Altcoin Market Crash

Crypto trader and former CEO of BitMEX, Arthur Hayes, has weighed in on the recent downturn in the altcoin market. In a social media post, Hayes suggests that rumors point to major centralized exchanges automatically liquidating cross-margin positions as a key driver behind the price drops. While acknowledging the significant decline, Hayes offers congratulations to traders who bought during this period, stating that many of the high-quality altcoins are unlikely to see those previously discounted prices soon.