CMC News

Arthur Hayes Buys Back $ETH at Higher Price After Week-Long Exit

BitMEX co-founder Arthur Hayes purchased $10.5 million worth of $ETH at prices above $4,150 just one week after selling 2,373 tokens near $3,507.

The crypto billionaire moved USDC across multiple transactions on Saturday to re-enter his #Ethereum position at significantly higher levels.

Hayes posted on X saying he'll "never take profit again" after the costly trading mistake that saw him exit before $ETH's latest rally.

The Maelstrom CIO had previously warned of potential crypto drops toward $100,000 for $BTC and $3,000 for $ETH due to macroeconomic pressures.

His earlier sell-off included $8.32 million in $ETH, $4.62 million in $ENA, and $414,700 in $PEPE amid tariff fears and weak jobs data.

The reversal came as institutions accumulated over 1 million $ETH worth $4.17 billion since July 10 through exchanges and trading platforms.

#Ethereum climbed 45% from $2,600 to $4,000 within the month, leaving Hayes to buy back at substantially higher prices.

Most institutional accumulation is estimated at an average price of $3,546 according to EmberCN data tracking unknown whale addresses.

The buying spree coincided with Ethereum's strong rally hitting $4,000 for the first time since December 2024.

Hayes' public admission highlights the difficulty of timing crypto markets even for experienced institutional players.