Ethereum News Today: Arthur Hayes Rebuys $10.5M ETH as Price Rises 20%

Arthur Hayes, co-founder of the now-defunct crypto exchange BitMEX, has repurchased over $10.5 million worth of Ethereum (ETH) at a higher price, just days after selling his position at a lower level. The move took place as ETH surged past $4,150, reflecting a 20% price increase in a short span. Hayes, who previously sold his ETH holdings at $3,507, reversed his position during the market rally, indicating a shift in his short-term trading strategy [3][6].

Hayes confirmed the repurchase on X (formerly Twitter), noting that the market’s upward momentum compelled him to act quickly. “I had to buy it all back, Thomas Lee, forgive me? I swear on my mother, I will never take profits again,” he stated, signaling his intent to hold the ETH indefinitely [7]. This commitment to long-term holding contrasts with his earlier market outlook, which included concerns about a potential correction.

The transaction has drawn significant attention, not only for its scale but also for the broader implications it holds for market sentiment. Hayes, known for his high-profile trading decisions, has historically influenced investor behavior through his public trades. His recent actions suggest a renewed confidence in Ethereum’s resilience and potential for future growth [4].

The timing of the repurchase aligns with a broader bullish trend in Ethereum. On-chain data shows that the price climbed to $4,200 in the following days, continuing a 19% weekly gain. Some analysts have projected further price increases, with one forecasting a potential rise to $12,000 if key resistance levels hold [8]. While such forecasts remain speculative, they highlight the growing optimism among investors, especially as Ethereum gains traction with institutional actors.

Hayes’ repurchase also underscores the inherent volatility of the crypto market. His reversal highlights the rapid price swings that characterize the space and the challenges traders face in timing their entries and exits. While no major institutional fund changes were observed immediately after the transaction, the move has intensified discussions about market dynamics and investor strategy [3][6].

Despite the optimism, historical precedents suggest that similar high-profile trades often fade unless followed by broader institutional shifts. Nonetheless, Hayes’ decision to buy back ETH at a premium demonstrates a calculated approach rooted in long-term conviction. As the market continues to evolve, his actions may serve as a barometer for broader sentiment, influencing both retail and institutional investors.

Sources:

[3] Arthur Hayes Repurchases ETH Amid Market Surge – https://www.bitget.com/news/detail/12560604905094

[4] Arthur Hayes Rebuys $10.5M in Ethereum, Signals Market Confidence – https://www.livebitcoinnews.com/arthur-hayes-rebuys-10-5m-in-ethereum-signals-market-confidence/

[6] Arthur Hayes Reverses ETH Short, Buys Back $8.3M ... – https://www.ainvest.com/news/ethereum-news-today-arthur-hayes-reverses-eth-short-buys-8-3m-position-20-rally-2508

[7] Arthur Hayes Rebuys ETH Amid Price Rally and Swears Off Profit-Taking – https://cryptopotato.com/arthur-hayes-rebuys-eth-amid-price-rally-and-swears-off-profit-taking/

[8] Analyst Says Ethereum Could Hit $12K After Breaking $4.2K – https://cryptopotato.com/analyst-says-ethereum-could-hit-12k-after-breaking-4-2k/?amp