Ethereum Market Sentiment Shifts as BitMEX Co-Founder Arthur Hayes Exits Position
Arthur Hayes, co-founder of BitMEX and a prominent figure in the cryptocurrency space, has recently sold a substantial portion of his Ethereum holdings amid a broader market downturn. According to blockchain analytics firm Arkham Intelligence, Hayes executed three transactions totaling 780 ETH on Sunday, November 16, 2025. This move comes as Ethereum prices hover near multi-week lows, reflecting growing bearish sentiment across digital asset markets. While Hayes' divestment may signal short-term caution, the long-term outlook for Ethereum remains strong given its foundational role in decentralized finance (DeFi) and ongoing network upgrades. Market participants are closely watching whether this sell-off marks a local bottom or precedes further downside.
BitMEX Co-Founder Arthur Hayes Offloads Ethereum Holdings Amid Market Downturn
Arthur Hayes, the former CEO of BitMEX, has liquidated a significant portion of his ethereum holdings as cryptocurrency markets extend their decline. Blockchain analytics firm Arkham Intelligence tracked three transactions totaling 780 ETH executed on Sunday.
The move follows growing bearish sentiment across digital asset markets, with Ethereum trading near multi-week lows. Hayes' divestment mirrors actions by other institutional players reducing exposure to altcoins during periods of heightened volatility.
BitMine Accumulates Billions in Ethereum Despite Market Challenges
BitMine has emerged as a formidable player in the cryptocurrency space, amassing $11.8 billion in total assets, including 3.6 million Ethereum (ETH), despite the token's price volatility. The company now controls 2.9% of Ethereum's circulating supply and aims to double its stake to 5%. Its average acquisition cost of $3,120 per ETH aligns closely with current market prices, signaling strategic accumulation during downturns.
Thomas Lee of Fundstrat, BitMine's head, attributes recent price declines to broader market pressures but remains bullish on Ethereum's long-term prospects. With $607 million in cash reserves, the company is poised to further expand its holdings, underscoring institutional confidence in the asset.
BitMine Acquires $173M in Ethereum Amid Market Liquidity Concerns
BitMine Immersion Technologies has made a significant $173 million Ethereum purchase while simultaneously bolstering its cash reserves. This move comes as prominent analyst Tom Lee points to a liquidity crunch in crypto markets, citing a wounded market maker as the primary drain on liquidity and downward pressure on prices.
The substantial ETH accumulation signals institutional confidence despite current market weakness. Lee's analysis suggests the market's fragility stems not from fundamental flaws but from temporary liquidity constraints - a view that aligns with BitMine's aggressive accumulation strategy.
Bitmine's Tom Lee Doubles Down on Ethereum with $169M Purchase Amid Market Slump
Bitmine, the crypto investment firm led by Tom Lee, has aggressively expanded its Ethereum position with a 54,156 ETH purchase worth $169 million. The acquisition elevates Bitmine's total ETH holdings to 3.56 million tokens—nearly 3% of circulating supply—despite carrying a $3.19 billion unrealized loss at current prices.
Lee's conviction remains unshaken, forecasting 100x long-term appreciation for Ethereum. The MOVE signals institutional confidence in ETH's fundamentals during a period of broad crypto weakness, where the asset trades below Bitmine's $4,017 average entry price.
