Whale Alert: Ethereum Triggers $13M Liquidation Wave Ahead of Crypto Storm
Crypto markets buckle as Ethereum whales dump $13 million in assets—just as volatility gears up for a comeback tour.
### The Whale Exodus
Blockchain trackers lit up with seven-figure ETH transfers as smart-money players raced for exits. This ain't your average profit-taking—it's a calculated retreat before the storm.
### Volatility's Comeback Tour
Traders are dusting off hedging strategies as ETH's price action mimics a caffeinated squirrel. The last time spreads widened this fast? Right before the 2024 regulatory circus.
### The Cynic's Corner
Funny how 'decentralized' markets still dance when whales snap their fingers. Some things never change—even in Web3.
- Ethereum led a $13M sell-off as Arthur Hayes offloaded major holdings, including 2,373 ETH, amid rising market volatility.
- Massive redemptions in Bitcoin and Ethereum ETFs signal growing investor caution amid global macroeconomic tensions.
- Hayes is still bullish on ETH long-term, investing $1.5M in Ethena and forecasting a $10K ETH price in the future.
Ethereum led the charge this week as BitMEX co-founder Arthur Hayes, one of crypto’s most followed investors, unloaded more than $13 million worth of his digital coins, marking growing whale caution as markets grapple with a sudden plummet.
On-chain data reveals Hayes liquidated approximately 2,373 ETH (valued at $8.32 million at the time of exchange), 7.76 million ENA tokens ($4.62 million), and just over 39 billion Pepe tokens ($415,000).
The stunning move was surprising,” is repetitive. Better: “The move surprised many in the crypto community, as Hayes has long been bullish on ethereum and several altcoins.
Ethereum Mirrors Bitcoin in Major Market Retreat
The liquidation follows broader profit-taking across the crypto market. Bitcoin fell to $112,731 in 24 hours, which CryptoQuant’s Julio Moreno described as the third large-scale profit-taking episode of this bull run, a warning sign that has historically preceded deeper corrections.
Ethereum was also not spared. The token mirrored the sell-off as ETH-backed ETFs also witnessed huge redemptions of capital, continuing to fuel the growing bearish sentiment among both retail and institutional investors.
Friday’s market unease was accentuated by $812 million in spot Bitcoin ETF redemptions – the second-largest one-day redemption of all time. Together with Ethereum ETF redemptions, the figures are suggestive of an all-across-the-board flight to safety due to macroeconomic uncertainty.
The sell-off occurs ahead of important geopolitical events. A fresh phase of U.S. tariffs for over 60 countries commences Aug. 7, increasing global trade tensions and unsettling investor sentiment in all risk assets. Meanwhile, Federal Reserve hawk talk has stoked inflation fears and stressed speculative assets further, including crypto.
Arthur Hayes, a notable analyst covering these macro risks, previously warned traders of extreme volatility preceding Q3. This latest revision may be an effort at short-term upside protection rather than a change back to a bearish long-term outlook.
Ethereum Still Bullish Despite Recent Sell-Off
Despite the liquidation, Hayes has never lost hope for Ethereum. Recently, he announced an investment of $1.5 million in Ethena (ENA) at cheaper rates, showing Optimism on the future of the ecosystem.
He also confirmed in recent interviews and blog posts that ETH could yet go up to $10,000, supporting his long-held thesis on the future of smart contracts and decentralized finance.
His recent sell-off appears to be part of an intentional risk adjustment, locking up profits and conserving capital for re-entry, and not an abandonment of belief in Ethereum’s long-term future.
