BitMEX Exchange Co-Founder Arthur Hayes Reverses ETH Sell-Off, Buys Back $10.5M as Market Sentiment Shifts

BitMEX co-founder Arthur Hayes executed a swift reversal on his ether (ETH) position, repurchasing $10.5 million worth of the cryptocurrency days after selling off $8.32 million. The move signals renewed confidence in ETH's upside potential despite recent bearish warnings.

Blockchain data shows Hayes converted USDC stablecoins into ETH NEAR $4,200, effectively reversing last week's sale at $3,500. His public X post—"had to buy it all back"—accompanied by a price chart suggests strategic repositioning rather than impulsive trading.

The reversal follows Hayes' earlier divestment of $13 million across ETH, Ethena (ENA), and meme token pepe (PEPE), driven by macroeconomic concerns including U.S. tariffs and weak jobs data. His latest accumulation highlights the volatile calculus of crypto market veterans navigating shifting fundamentals.