Arthur Hayes: Sells $49.25M Tokens After Liquidation Call

Arthur Hayes has offloaded tokens valued at $49.25 million since declaring liquidation two days ago, according to on-chain tracking by @EmberCN. Multiple assets moved to exchanges yielded $49.25 million in USDC withdrawals, including 8,000 ETH for $19 million, 14 million ENA, 323,000 UNI and smaller positions in ETHFI, AERO, PENDLE and ZAMA.

Price action on the 4h chart shows ETH at $2337.05 inside the Bollinger band with upper resistance at $2425.95 and lower support at $2308.22. The EMA50 at $2398.35 and EMA200 at $2489.56 cap upside while MACD prints a death cross at -21.17. With price testing upper Bollinger resistance while RSI sits at 40.05, a healthy retracement to the 50-EMA support at $2398.35 appears probable before further continuation.