Ethereum Tops K As Hayes Reloads

Ethereum Tops $4K As Hayes Reloads

In a surprising move that has captured the attention of the crypto community, Arthur Hayes, co-founder of BitMEX, executed a notable sell-then-buyback operation on Ethereum (ETH) within a span of just one week. Arthur Hayes initially sold 2,373 ETH for approximately $8.32 million at an average price of $3,507. However, just a week later, as Ethereum surpassed the $4,000 mark for the first time since December 2024, he re-entered the market by purchasing back ETH worth $10.5 million at prices exceeding $4,150. On the social platform X (formerly Twitter), Hayes addressed this turnaround with humor, tagging Tom Lee from Fundstrat and stating:

"Had to buy it all back, do you forgive me @fundstrat?"

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"I pinky swear, I'll never take profit again."

This rapid reversal between selling at a lower price and buying back at a higher price has sparked debate across the ecosystem. Some interpret it as an emotional reaction, while others see it as a calculated bet on Ethereum's continued bullish momentum.

Key Details of the Operation

• Initial Sale: 2,373 ETH sold for about $8.32 million at $3,507 per ETH.
• Buyback: $10.5 million in USDC converted to ETH at prices above $4,150.
• Timing: Only one week elapsed between the sale and the buyback.

Market Context and Macroeconomic Factors

Prior to this buyback, Hayes, now Chief Investment Officer at the Maelstrom Fund, had warned of a potential market correction. He cited a disappointing US employment report in July, which added only 73,000 new jobs, alongside a slowdown in credit growth across major economies. Based on these macroeconomic indicators, Hayes predicted Bitcoin could dip toward $100,000 and Ethereum toward $3,000. In line with this caution, Hayes sold over $13 million in assets, including ETH and other tokens like Ethena (ENA) and Pepe (PEPE). Conversely, institutional interest in Ethereum has surged. Data from EmberCN shows that since July 10, more than 1.035 million ETH—valued at approximately $4.17 billion—has been accumulated, primarily by institutional investors and large American companies. This accumulation occurred at an average price of $3,546 and coincided with a 45% price increase from $2,600 to $4,000 in one month. This juxtaposition of macroeconomic caution and strong institutional inflows highlights a crypto market at a crossroads, balancing fears of a correction with optimism for continued growth. Arthur Hayes’s buyback may be seen as an opportunistic move to capitalize on institutional momentum, though it carries risk if economic conditions worsen.

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Source: Ethereum Tops $4K As Hayes Reloads on August 10, 2025

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Frequently Asked Questions (FAQ)

Arthur Hayes's Recent Ethereum Activity

Q: What significant transaction did Arthur Hayes recently make regarding Ethereum? A: Arthur Hayes conducted a sell-then-buyback operation on Ethereum (ETH) within a single week. He initially sold 2,373 ETH and then repurchased ETH shortly after. Q: At what prices did Arthur Hayes sell and buy back Ethereum? A: Hayes sold ETH at an average price of $3,507 and subsequently bought it back at prices exceeding $4,150. Q: What was the approximate value of Arthur Hayes's Ethereum transactions? A: His initial sale was for approximately $8.32 million, and his buyback was worth $10.5 million. Q: What was Arthur Hayes's stated reason for the buyback of Ethereum? A: Hayes humorously addressed the turnaround on X, asking if he was forgiven and jokingly stating he would "never take profit again." The market interprets this as either an emotional reaction or a calculated bet on Ethereum's continued upward trend.

Market Context and Arthur Hayes's Predictions

Q: What were Arthur Hayes's previous market predictions before his Ethereum buyback? A: Hayes had warned of a potential market correction, citing disappointing US employment data and a slowdown in credit growth. He predicted Bitcoin could dip towards $100,000 and Ethereum towards $3,000. Q: What assets did Arthur Hayes sell based on his macroeconomic caution? A: He sold over $13 million in assets, including Ethereum, Ethena (ENA), and Pepe (PEPE). Q: What is the trend in institutional investment for Ethereum? A: Institutional interest in Ethereum has surged, with over 1.035 million ETH accumulated by institutional investors and large American companies since July 10, at an average price of $3,546. Q: How has Ethereum's price performed recently in relation to institutional inflows? A: The accumulation of ETH by institutions coincided with a significant price increase, moving from $2,600 to $4,000 in one month, a 45% jump. Q: How can Arthur Hayes's recent actions be interpreted in the current market climate? A: His buyback can be seen as an opportunistic move to capitalize on institutional momentum, despite his earlier macroeconomic caution, though it carries inherent risks.

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Crypto Market AI's Take

Arthur Hayes's strategic maneuver with Ethereum highlights the dynamic interplay between macroeconomic concerns and strong institutional adoption within the cryptocurrency market. His initial caution, followed by a seemingly quick reversal, underscores the difficulty in perfectly timing market movements, even for seasoned players. This event also reinforces the growing institutional confidence in Ethereum's potential, as evidenced by the significant inflows. For investors, understanding these market signals and the underlying drivers of price action is crucial. Our platform leverages AI to provide real-time analysis and insights, helping you navigate these complex market conditions and make informed decisions.

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