BitMEX co-founder Arthur Hayes has fully liquidated his directional crypto portfolio worth approximately $22.28 million, taking profits across ETH and major altcoins. The sell-off included 6,400 ETH ($15.2M), 14 million ENA ($2.76M), 323,000 UNI ($2.24M), 1.89 million ETHFI ($1.23M), along with positions in AERO, PENDLE, and ZAMA. Hayes stated that the market "needs to fall first before it can rise," citing a tricky macro and geopolitical environment. He plans to remain on the sidelines until he sees a "full clear signal" before re-entering positions.