Arthur Hayes: The Man Who Bought Back His Ethereum and Asked for Forgiveness 🙏

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Arthur Hayes, in a twist worthy of a sitcom, rebuys $10.5M in Ethereum after a recent sell-off, signaling either a return of confidence or a severe case of buyer’s remorse in the crypto market.

BitMEX co-founder Arthur Hayes has returned to the Ethereum market with a move so bold, it could only be described as ‘desperate.’ On August 9, 2025, he purchased $10.5 million worth of ETH. This came just a week after selling 2,373 ETH for $8.32 million. The move has sparked a heated debate within the crypto community, proving that in the world of cryptocurrencies, nothing is ever certain except for the certainty of uncertainty.

Arthur Hayes Dumps $13M Crypto, Reenters ETH at $4,150

Hayes sold his ETH on August 2 at approximately $3,507 per token, citing macro risks such as poor U.S. employment figures and impending tariffs. The sale was part of a grand $13.35 million crypto purge, which included 7.76 million Ethena (ENA) tokens valued at $4.62 million and 38.86 billion Pepe (PEPE) tokens valued at $414,700. Hayes warned at the time that Bitcoin would plummet to $100,000 and Ethereum to $3,000, a prediction that seemed almost prophetic as Ethereum dropped over 5% in 24 hours.

However, Ethereum, like a stubborn cat, refused to stay down. The price surged by 45% over the next month, reaching over $4,200. U.S. spot ETH ETF inflows amounted to $791.89 million, and the SEC’s decision that stETH is not a security added fuel to the fire. The market mood shifted from fear to cautious optimism, and Hayes, sensing the change, decided to jump back in.

On-chain data revealed that Hayes bought ETH at more than $4,150, spending a total of $10.5 million in USDC. In a lighthearted post on X, he wrote, “I had to buy it all again, do you forgive me? I pinky promise, I will never profit again,” tagging Tom Lee of Fundstrat. It’s a promise as likely to be kept as a politician’s vow to cut taxes.

Related Reading: Hayes Sets Bold 2025 Targets: Bitcoin $250K, Ethereum $10K

Arthur Hayes Flips Bullish, ETH Tops $4,180

Hayes’ change of heart underscores his strategic approach to the market’s whims. His initial sell-off was a hedge against short-term risks, but his swift re-entry suggests a belief in Ethereum’s long-term potential. He demonstrated adaptability, a trait as rare in the crypto world as a unicorn with a mortgage.

According to CoinMarketCap, Ethereum is currently trading at $4,233, up 4% on the day. Traders are reacting positively, calling Hayes’ move a whale signal for further gains. Institutional interest remains high, with the total accumulated amount of ETH now at 4.17 billion since July, indicating that big players still see Ethereum as a long-term asset.

Analysts, however, caution that volatility is still the name of the game. Prices could be swayed by macroeconomic factors like global trade tensions and credit growth concerns. If other whales follow Hayes’ lead, Ethereum might test new highs in the coming weeks. But then again, in crypto, anything can happen, and usually does.

In short, Arthur Hayes’ buyback is a testament to the unpredictable nature of the crypto market. It’s a reminder that even the most seasoned traders can be as fickle as the market itself, and sometimes, the best strategy is to admit when you’re wrong and buy back what you just sold. 🤷‍♂️

 

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2025-08-10 01:35