Hayes predicted MON could eventually rise to $10 just two days earlier. | Source: CCN /
Veronica Cestari
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Key Takeaways
Hayes reverses on Monad within two days.
The investor accumulated ENA, PENDLE and ETHFI.
Hayes recently said Bitcoin could surge after a drop by year’s end.
Crypto investor and former BitMEX chief executive Arthur Hayes has made an abrupt reversal on his purchase of Monad (MON), urging followers on Thursday to “send this dogsh*t to zero.”
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The remark contrasted sharply with comments he made earlier in the week, when he predicted MON could eventually rise to $10 and disclosed that he had purchased the asset.
“Just what this bull market needs another low float, high FDV useless L1. But obvi[ously] I aped. It’s a bull market b*tches,” he wrote on X.
History Repeats
Upon his earlier announcement that he had purchased MON, some traders suggested his bullish tone could be an indication that the token was nearing a local top.
The skepticism reflects Hayes’s recent track record, after making upbeat forecasts on several altcoins that attracted significant market attention before the assets later retreated.
In several cases, Hayes reduced holdings around the time sentiment began to cool.
In September, Hayes cashed out of his entire position in Hyperliquid after making bullish predictions just one month earlier.
MON Price Prediction
In a recent report by CCN analyst Victor Olanrewaju, MON is testing a critical technical setup that could determine whether the token extends its recent rebound or faces a deeper pullback.
He noted that if the current structure holds, MON’s price has “a strong chance” of breaking above the immediate $0.048 resistance.
MON/USD 1-Hour Chart | Credit: TradingView
Olanrewaju added that a confirmed breakout from the channel’s upper boundary would “open the door” for a more extended move toward the $0.064 target, a level he described as the next meaningful upside threshold for bulls.
However, Olanrewaju cautioned that the pattern carries notable downside risks.
If selling pressure increases or broader market sentiment weakens, he warned that the ascending channel could fail.
“In that scenario, Monad’s price may slide toward the $0.033 support, invalidating the bullish structure and signaling a deeper correction,” he wrote.
Hayes Bets on ENA
In a separate development, a wallet linked to Hayes purchased about $245,000 worth of Ethena’s ENA token this week, only two weeks after selling a far larger stake.
According to analytics platform Lookonchain, the address acquired 873,671 ENA tokens at an average price of $0.281.
Earlier this month, the same wallet sold roughly 5.02 million ENA tokens valued at about $1.38 million.
In addition to ENA, Hayes also purchased 436,000 PENDLE valued at roughly $1.13 million and 696,000 ETHFI worth about $543,000 over the past two days.
Bullish on Bitcoin
Last week, Hayes said Bitcoin could stage a major rebound before the end of the year, even as he cautioned it may first slide toward the $80,000 level.
In an essay published on Monday, he wrote that Bitcoin’s decline from around $125,000 to the low $90,000s reflects tightening financial conditions.
Historically, he noted, Bitcoin has tended to react earlier than other risk assets when liquidity contracts.
Hayes said the token could “absolutely” fall to $80,000 or $85,000 if equities drop 10% to 20% and Treasury yields move toward 5%.
Despite the risk of further declines, Hayes said a deeper correction would likely prompt U.S. policymakers to accelerate liquidity injections through the Federal Reserve.
Such a shift, he argued, could trigger a rapid reversal that pushes Bitcoin toward $200,000 or even $250,000 before year-end.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
