Arthur Hayes Flips the Script: Buys Back ETH Above $4,150 Just Days After Dumping

Crypto whales play by their own rules—and Arthur Hayes just proved it again.

The ex-BitMEX CEO, who unloaded a chunk of ETH last week, just doubled back with a seven-figure buy at over $4,150. Timing the market? More like rewriting the playbook mid-game.

Whale Logic 101: Buy high, sell higher—then buy back even higher. Because why let fundamentals cramp your style?

Hayes’ move screams conviction (or maybe just FOMO) as ETH defies gravity. Meanwhile, traditional finance still thinks ‘HODL’ is a typo.

One thing’s clear: When the crypto elite zigzag, retail ‘degens’ get whiplash. Pro tip: Don’t try this at home—unless you’ve got a hedge fund’s war chest and a gambler’s soul.

TLDR

• Arthur Hayes buys back Ethereum at over $4,150 after selling $8.3 million in ETH.

• Hayes admits his mistake and promises to never take profit again on ETH.

• Hayes’ buyback follows Ethereum’s price rally, rising from $2,600 to $4,000.

• Hayes warns of potential macroeconomic pressures affecting crypto prices.

Arthur Hayes, co-founder of BitMEX and well-known Bitcoin billionaire, has made headlines with his recent ethereum (ETH) move. After selling off a significant amount of ETH last week, Hayes reversed his decision by purchasing Ethereum at a higher price. According to on-chain data, Hayes sold 2,373 ETH worth approximately $8.32 million when Ethereum was trading near $3,507. This sale occurred just before Ethereum’s latest price rally.

However, Hayes took a different approach just a week later. He bought back into Ethereum at prices above $4,150, significantly higher than his initial sale point. This move surprised many in the crypto community. On social media, Hayes humorously acknowledged his decision, asking for forgiveness from Tom Lee of FS Insight. “Had to buy it all back, do you forgive me @fundstrat?” Hayes tweeted, adding, “I pinky swear, I’ll never take profit again.”

Reasons Behind the Initial Arthur Hayes Ethereum Sale

Hayes’ initial sale of Ethereum was driven by concerns about broader macroeconomic factors affecting the market. Before making his decision, he had warned that economic pressures could push Bitcoin and Ethereum prices lower.

In a statement, Hayes pointed to weak economic indicators, including sluggish credit growth and concerns over tariff impacts following the July U.S. Non-Farm Payrolls report. He predicted that these factors could drive Ethereum down to $3,000 and bitcoin closer to $100,000.

This caution led Hayes to sell over $13 million in crypto assets, including the 2,373 ETH, and others such as Ethena (ENA) and Pepe (PEPE). He stated his concerns about the economic environment influencing the cryptocurrency market. However, his recent decision to buy back Ethereum contradicts his earlier predictions of a market decline, suggesting he might have had a change of heart or seen an opportunity amid Ethereum’s price surge.

Ethereum’s Price Surge and Institutional Interest

The decision to purchase Ethereum came after a notable price surge. Over the past month, Ethereum’s price jumped from around $2,600 to nearly $4,000, a 45% increase. This increase has been attributed to a mix of factors, including rising institutional interest in the token.

According to EmberCN data, more than 1 million ETH, worth approximately $4.17 billion, has been accumulated by large investors and institutions.

The rise in Ethereum’s price reflects broader bullish sentiment in the crypto space, particularly among large institutional players. These institutions are likely adding Ethereum to their portfolios as part of a long-term investment strategy. The surge in buying activity suggests that Ethereum’s price could continue to see upward momentum in the near future, which likely influenced Hayes’ decision to repurchase ETH despite its higher price point.

Arthur Hayes’ Market Outlook and Future Plans

While Hayes has publicly committed to holding onto his Ethereum position, he continues to monitor the macroeconomic landscape closely.

His warning last week about the potential for broader economic challenges influencing the crypto market remains relevant. Despite this, the strong rally in Ethereum’s price might suggest a more optimistic short-term outlook.

Hayes has also warned that a potential market correction could occur, as the global economy faces uncertainties. While he has pledged never to take profits on ETH again, his cautionary stance toward the broader market might affect future moves. Investors in the crypto space continue to watch Hayes closely, as his previous predictions and market strategies often attract significant attention.