Ethereum News Today: Arthur Hayes Buys Back 2,373 ETH for $10.5M After $8.3M Sale

Arthur Hayes, co-founder of the now-defunct cryptocurrency exchange BitMEX, recently repurchased 2,373 Ethereum (ETH) for $10.5 million in USDC, following his earlier sale of the same amount for $8.3 million [1][3]. The move, which involved selling at around $3,507 per ETH and repurchasing at a slightly higher price, has generated significant attention on social media platforms, where Hayes humorously acknowledged the irony of “selling low and buying high” [2]. His decision has sparked discussions about the unpredictable nature of the crypto market and the influence of high-profile traders on price movements.

The transaction occurred against a backdrop of Ethereum price fluctuations. Following Hayes’ trade, ETH surged nearly 4% intraday, rising above $4,150 [2]. On-chain data indicates that such moves, often executed by large holders or “whales,” can temporarily drive market volatility [3]. This pattern is not new—similar trades have historically caused short-term price spikes, often followed by a correction as the initial momentum wanes.

Hayes’ actions reflect a broader trend of strategic repositioning among seasoned traders. In his social media posts, he expressed regret over taking profits and vowed never to sell again, a sentiment that resonated with many in the crypto community [2]. Analysts note that his trades are not purely speculative but rather a readjustment of his overall Ethereum exposure [3]. This approach underscores the challenges of executing consistent buy-low-sell-high strategies in a highly volatile market.

At the same time, Ethereum has seen increased institutional and retail interest. Ethereum spot ETFs have recorded a net inflow of $461 million over four consecutive days, with BlackRock’s ETHA receiving a significant $255 million in a single day [5]. These figures suggest a growing appetite for Ethereum-based products despite recent price corrections and market uncertainty. However, the asset’s volatility remains a concern, as demonstrated by a whale who recently lost $20.73 million after closing all positions following a liquidation [5].

Hayes’ decision to repurchase the same amount of ETH he had sold indicates a willingness to absorb short-term losses in pursuit of a longer-term position. While the outcome of this strategy remains uncertain, it reflects a broader trend of adaptability among experienced traders navigating the fast-moving crypto landscape [2]. As the market continues to evolve, such strategic decisions may influence Ethereum’s price trajectory in the near term.

Source:

[1] Arthur Hayes Rebuys Ethereum for $10.5M After $8.3M ...

(https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-rebuys-ethereum-10-5m-8-3m-sale-volatility-2508/)

[2] Arthur Hayes Mocks Poor ETH Trading Timing as Thomas ...

(https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-mocks-poor-eth-trading-timing-thomas-lee-hails-16-000-potential-2508/)

[3] Arthur Hayes 'sells low and buys high' ETH, repurchasing a ...

(https://www.binance.com/en/square/post/28081246581985)

[4] ETH fell back after breaking through $4,200, with a daily increase of 3.94%

(https://x.com/WaterJunkieCat/status/1954138****96120097)

[5] Ethereum spot ETF saw a net inflow of $461 million yesterday, marking the fourth consecutive day of net inflow

(Source: SoSoValue)