Arthur Hayes Flips the Script: Buys Back ETH Above $4K Just Days After Dumping $8.3M
Crypto whales play by their own rules—and Arthur Hayes just proved it again. The ex-BitMEX CEO, who unloaded $8.3M in ETH days ago, is already back in the game with fresh buys above $4K. Market manipulation or just another Tuesday in crypto? You decide.
The Whiplash Trade
Hayes’ U-turn comes as ETH claws back momentum, defying skeptics who called his sell-off a bearish signal. Guess someone’s FOMO overrides even a multimillion-dollar profit-taking spree.
Cynical Finance Bonus
Ah, the ‘smart money’—where ‘buy high, sell low’ gets rebranded as ‘strategic repositioning.’
Hayes’ quick reentry and a public change of heart
But less than a week later, on-chain data revealed that Hayes had reversed course. Using $10.5 million in USDC, he repurchased ETH at prices above $4,000. The move, spotted by blockchain analytics platforms, caught many by surprise given the proximity to his earlier bearish call.
Hayes addressed the switch with a tongue-in-cheek post on X (formerly Twitter): “Had to buy it all back… I pinky swear, I’ll never take profit again.” The comment quickly went viral among crypto traders, who appreciated the self-deprecating humor about market timing.
While Hayes didn’t provide a detailed breakdown of what triggered the rapid turnaround, the Ethereum market has shown resilience in recent days. Institutional wallets have been accumulating heavily, and this has coincided with Ethereum’s price pushing to fresh 2025 highs.
What’s next for the market?
While concerns over U.S. economic health, rate policy, and geopolitical frictions remain valid, the crypto market has repeatedly defied such headwinds when liquidity and institutional interest strengthen.
For Ethereum specifically, growing demand from staking services, the anticipated impact of scaling upgrades, and a recovery in decentralized finance (DeFi) activity have all contributed to positive sentiment. The market’s ability to absorb selling pressure and rally toward yearly highs may have prompted traders like Hayes to reconsider short-term positioning.
Still, questions remain about whether this was a calculated tactical trade or a shift in Hayes’s conviction. His upcoming keynote at WebX Asia in Tokyo is expected to be closely watched for any further clarification on his market outlook.
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