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Arthur Hayes reveals selling Solana, BONK in loss, Predicts new bottom for Bitcoin

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The cryptocurrency industry has been continuously experiencing a downturn. Amidst these market slumps, the crypto that bitcoin is garnering massive attention from the community is Solana (SOL). Additionally, a prominent trader and former CEO of BitMEX, Arthur Hayes, recently stated in a blog post that he sold all of his Solana (SOL) and Bonk (BONK) tokens at a slight loss.  Source: Cryptohayes Website Hayes’s current view on SOL
The major reason behind the massive attention on Solana (SOL) is its significant price drop in the last 30 days, and the recent selling by Arthur Hayes. In the last 30 days, Solana (SOL)’s price has plummeted over 24%, from $113 to $85.
However, Hayes always remains optimistic about Solana’s potential and expresses confidence, with bullish views toward this coin. Nevertheless, the recent dump of Solana (SOL) by Hayes indicates that Solana may experience further price drops in the upcoming days. 
InHayes’s recent blog post, he also highlights that if the price of Bitcoin goes below $35,000, he plans to buy Solana (SOL) and Dogwifhat’s WIF. He also cited that WIF is the next big thing, and he’s not interested in other cryptocurrencies.
Additionally, CoinShares, a European asset manager specializing in digital assets, reported earlier that the fund in which Arthur Hayes is the CEO has outflowed Solana worth around $5.3 million. In December 2023, Hayes, in his post on X (previously Twitter), backed Solana’s BONK over SHIB.
Despite the recent Solana dumping, before the approval of the spot Bitcoin ETF, Hayes always had a negative view of Bitcoin. Sometimes, he also stated that the approval of a Bitcoin ETF could impact the nature of Bitcoin. In recent times, we have witnessed these predictions by Hayes coming to fruition, as mentioned in his blog post. Solana (SOL) and Bonk (BONK) price momentum 
Currently, Solana’s SOL is trading near $86.26, and in the last 24 hours, it experienced over a 3.5% price surge. If we look at SOL over a longer period, in the last 30 days, it experienced over a 24% price drop. Despite the recent dump, Hayes also clarified that he will buy Solana once the Bitcoin price trades below $35,000.
On the other hand, the popular doge-themed token BONK seems to be following the path of Solana. Currently, it is trading near $0.000010, and in the last 24 hours, it experienced over a 4% price surge. Over a more extended period, BONK did not perform as expected; in the last 30 days, it plummeted by over 40%.
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