Ethereum News Today: Arthur Hayes' U-Turn: ETH Buyback Defies Earlier Profit Warnings

Arthur Hayes, co-founder of BitMEX and a prominent figure in cryptocurrency markets, has executed a significant reversal in his trading strategy following Ethereum's (ETH) recent price rally. After selling $8.32 million in ETH at $3,507 in early August, Hayes returned to the market, purchasing 1,750 ETH (worth $7.43 million) at prices exceeding $4,150 per token Arthur Hayes Buys Back ETH Higher, ‘Pinky Swears’^[1]. This move, facilitated by $10.5 million in USDC, marked a strategic reentry into the asset, with Hayes humorously vowing on X to "never take profit again" Arthur Hayes, One of the Leading Names in the Crypto Market, …^[2].

The transaction aligns with broader market dynamics, as Ethereum's price surged from $2,600 to $4,000 within a month-a 45% increase-driven by renewed institutional interest. Over 1.035 million ETH, valued at $4.17 billion, was accumulated by unknown whales and institutions since July 10, according to data from EmberCN Arthur Hayes Buys Back ETH Higher, ‘Pinky Swears’^[1]. Hayes' decision to reaccumulate ETH contrasts with his earlier caution, which stemmed from concerns over macroeconomic pressures, including U.S. tariff risks and weak Non-Farm Payrolls data. He had previously warned of potential declines for Bitcoin (BTC) to $100,000 and ETH to $3,000 Arthur Hayes Buys Back ETH Higher, ‘Pinky Swears’^[1].

Beyond Ethereum, Hayes expanded his altcoin portfolio, purchasing $16.43 million in tokens over five days. Key acquisitions included 58,631 HYPE ($2.62 million), 3.1 million ENA ($2.48 million), 1.29 million LDO ($1.83 million), 184,610 PENDLE ($1.02 million), and 420,000 ETHFI ($516,600) Arthur Hayes Once Again on Altcoin Buying Spree - Coinspeaker^[3]. As of August 15, only ETH and HYPE showed profits, with gains of $638,560 and $206,145, respectively. Other tokens, including ENA and LDO, faced moderate paper losses Arthur Hayes Once Again on Altcoin Buying Spree - Coinspeaker^[3]. Analysts note that Hayes' timing aligns with a broader "altseason" narrative, as Ethereum's dominance has spurred optimism for smaller tokens.

Hayes' bullish stance on crypto remains unshaken. Despite his recent altcoin focus, he reiterated his long-term Bitcoin projections, suggesting BTC could reach $250,000 in the short term and $1 million by 2028 Arthur Hayes on the Move Again: Here’s What He Bought Today^[4]. His rationale includes concerns over U.S. fiscal policy and potential Federal Reserve money-printing, which he views as tailwinds for Bitcoin's adoption Arthur Hayes on the Move Again: Here’s What He Bought Today^[4]. Meanwhile, investment firm VanEck echoed bullish sentiment, forecasting Ethereum could hit $22,000 by 2030 Why Arthur Hayes Will 'Never Take Profits Again’?^[5].

The market's rapid shift underscores the volatility inherent in crypto trading. Hayes' reversal-from selling ETH to buying back at a higher price-occurred within a week, reflecting the unpredictable nature of the sector. His actions have drawn attention from on-chain analysts, who highlight the significance of whale activity in shaping market sentiment. Lookonchain data revealed that a single Ethereum address, 0xcB92, faced a $15.85 million liquidation after the asset's price surge above $4,200 Why Arthur Hayes Will 'Never Take Profits Again’?^[5].

Investors are closely monitoring Hayes' strategy, with many interpreting his purchases as a signal of confidence in Ethereum's and altcoins' growth potential. The market's response has been mixed: while ETH's rally has attracted institutional buyers, altcoins like HYPE and ENA remain unproven in sustaining momentum. Analysts caution that Hayes' portfolio, despite its diversified approach, carries risks, particularly in tokens with limited liquidity and speculative valuations Arthur Hayes Once Again on Altcoin Buying Spree - Coinspeaker^[3].