Arthur Hayes, co -founder of Crypto Exchange Bitmex, appears to have turned course on a larger ether (Eth) Trade just a few days after warning of a downturn of the market.
Last week, Data from Arkham Intelligence showed that Hayes was selling 2,373 ETH worth about $ 8.32 million when the second largest cryptocurrency traded near $ 3,500 and moved into stableecoins.
This weekend, however, he seems to have a change of heart.
Hours ago, data first discovered by Lookonchain that an address attached to Hayes moved out of $ 10.5 million in USDC to buy Ether back, with the price of cryptocurrency, now hovering about $ 4,200.
The move comes after Haye’s liquidated over $ 13 million in Crypto -Occupies last week, including ethena
and meme token pepe.
At that time, he quoted US tariffs and weaker than expected job data as a crypto headwind, predicting Bitcoin could test $ 100,000 and Ether could revise $ 3,000.
Still, Hayes’ rapid repurchase suggests that he may see renewed upside in ether. Hayes apparently confirmed the acquisition of ETH in a post on X and said he “had to buy it all back” while sharing an Ether Price Chart.
