Ethereum News Today: Arthur Hayes Reverses ETH Trade as Price Surges 20% to $4,200

Arthur Hayes, co-founder of BitMEX, appears to have reversed course on a significant ether (ETH) trade following his initial decision to sell $8.32 million worth of the cryptocurrency last week. At the time, ether was trading near $3,500, and Hayes moved the proceeds into stablecoins, citing concerns about a potential market downturn due to U.S. tariffs and weaker-than-expected jobs data. He previously predicted that bitcoin could test $100,000 and ether could revisit $3,000 [1].

However, in a surprising turn, Hayes has now reportedly bought back a larger amount of ether—$10.5 million—within just days of the sale. This buyback took place as the price of ether surged to $4,200, suggesting that Hayes may have changed his outlook on the asset. The move was first highlighted by on-chain data from Lookonchain, indicating that an address linked to Hayes exited a large stablecoin position to repurchase ether [1].

This reversal highlights the rapid shifts in sentiment that can occur in the crypto market, even among high-profile traders. Hayes’ decision to “buy it all back” was confirmed through a post on X, where he shared an ether price chart and hinted at a renewed bullish stance. The swift action contrasts sharply with his earlier bearish assessment, raising questions about whether broader market conditions or strategic reallocation may have influenced his decision [1].

Hayes is no stranger to high-profile trades and market commentary, and his recent actions may signal a broader shift in risk appetite among institutional and high-net-worth investors. The timing of the buyback, coming on the heels of a sharp price rebound, underscores the dynamic nature of crypto trading, where sentiment can pivot quickly in response to price movements and macroeconomic developments.

The transaction also follows a larger trend of liquidation and reallocation seen in the market. Last week, Hayes liquidated over $13 million in crypto holdings, including positions in ethena and the meme token pepe [1]. However, the immediate follow-up purchase of ether suggests a more focused and strategic approach to capital deployment, with ether emerging as a key asset of interest.

As ether continues to trade near $4,200, the market will be watching closely to see whether this move by Hayes signals a broader return to optimism in the crypto space. His track record and visibility as a market figure make his trades a point of interest for traders and investors alike.

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Source:

[1] Arthur Hayes ‘Had to Buy It All Back’ After Selling $8.3M Worth of ETH

https://www.coindesk.com/markets/2025/08/09/arthur-hayes-had-to-buy-it-all-back-after-selling-usd8-3m-worth-of-eth