Arthur Hayes, co-founder of crypto change BitMEX, seems to have reversed course on a serious ether (ETH) commerce simply days after warning of a market downturn.
Final week, knowledge from Arkham Intelligence confirmed that Hayes offered 2,373 ETH price round $8.32 million, when the second-largest cryptocurrency was buying and selling close to $3,500 and moved into stablecoins.
This weekend, nonetheless, he appears to have a change of coronary heart.
Hours in the past, knowledge first noticed by Lookonchain confirmed an handle linked to Hayes moved out of $10.5 million in USDC to purchase again ether, with the value of the cryptocurrency now hovering round $4,200.
The transfer comes after Hayes liquidated over $13 million in crypto holdings final week, together with ethena
and meme token pepe .
On the time, he cited U.S. tariffs and weaker-than-expected jobs knowledge as headwinds for crypto, predicting bitcoin may take a look at $100,000 and ether may revisit $3,000.
But Hayes’ fast buyback suggests he might even see renewed upside in ether. Hayes seemingly confirmed the acquisition of ETH in a submit on X, saying he “had to purchase all of it again” whereas sharing an ether value chart.