Arthur Hayes, BitMEX co-founder, said he does almost no technical analysis when investing in Bitcoin, instead focusing on macro signals such as U.S. stock movements and broader market sentiment. Hayes said Bitcoin is currently tracking U.S. equities closely and could be among the first assets sold if a sharp stock-market decline triggers margin calls among leveraged investors. He also previously said he follows equity-market analyst Milton Berg. The remarks were made in an August 23, 2026 Altcoin Daily interview and reported by Wu Blockchain on September 12.