Arthur Hayes Closes Bitcoin Short as BTC Prepares to Skyrocket

Arthur Hayes, the former CEO of cryptocurrency exchange BitMEX, recently closed his short position on Bitcoin after initially predicting a sharp downturn below the $50,000 level. On September 6, Hayes expressed concerns that Bitcoin could face a significant correction, leading him to take a short position to potentially profit from the expected drop. However, by September 8, Hayes had reversed his stance, announcing the closure of his short position with a modest 3% profit. In a post on X, he explained his rationale for exiting the position and hinted at a potential upcoming rally for Bitcoin: “Closed my $BTC short,