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HYPE short-term drops over 5%, NEAR falls 6.01%
BlockBeats News. On June 4, after Arthur Hayes announced a full liquidation of HYPE and NEAR at midday today, both tokens saw a short-term plunge:
HYPE fell 5.21%, currently quoted at $68.82;
NEAR fell 6.01%, currently quoted at $2.42.
Arthur Hayes said the reasons for the liquidation will be explained in an article titled 《Reality Check》 to be published next Tuesday. In short:
· The Iran war and inventory replenishment drove up energy prices
· From now to the beginning of Q3, 3 major AI projects will go public
· Believes Trump will switch to opposing AI to help the Republican Party win the midterm elections
· Believes the market top will occur between now and September
· It’s time to take profits.