Arthur Hayes Buys Back ETH Days After $8.3M Sale, Flipping Short-Term Outlook
Arthur Hayes, co-founder of BitMEX, has re-entered the Ethereum market just days after liquidating a sizable ETH position—signaling a potential shift in his short-term outlook on the asset.
Last week, blockchain data from Arkham Intelligence showed Hayes sold 2,373 ETH, valued at roughly $8.3 million at the time, when Ether traded around $3,500. The capital was rotated into stablecoins, reflecting a cautious stance as Hayes cited U.S. tariffs and soft jobs data as bearish macro signals.
However, on-chain activity suggests a swift reversal. Over the weekend, an address linked to Hayes moved $10.5 million in USDC back into ETH, according to Lookonchain. The repurchase came as Ethereum surged to $4,200—its highest level since December 2021.
Hayes appeared to confirm the re-entry on social media, posting a price chart of ETH with the caption, “Had to buy it all back.”
His prior liquidations included more than $13 million across tokens like Ethena (ENA) and Pepe (PEPE). At the time, Hayes warned of a possible market correction, predicting that Bitcoin could retest $100,000 while Ether might revisit $3,000.
The quick turnaround suggests Hayes may now see renewed upside potential in ETH, despite macro headwinds. His actions echo a broader sentiment shift across the market as Ether gains momentum on the back of heavy trading, short liquidations, and growing institutional interest.
