Arthur Hayes rebuys $10.5M in Ethereum after sell-off, signaling renewed confidence and potential bullish momentum in the volatile crypto market.
BitMEX co-founder Arthur Hayes has returned to the Ethereum market with a bold move. 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 attracted debate within the crypto community, and this shows that he is confident in the Ethereum price rally once again.
Arthur Hayes Dumps $13M Crypto, Reenters ETH at $4,150
Hayes sold his ETH on August 2 at approximately $3,507 per token. He pointed at macro risks such as poor U.S. employment figures and imminent tariffs. The sale was one of a $13.35 million crypto dump. This was also comprised of 7.76 million Ethena (ENA) tokens valued at 4.62 million dollars as well as 38.86 billion Pepe (PEPE) tokens valued at 414,700 dollars.
Hayes at the time cautioned that Bitcoin would collapse to 100,000 and Ethereum to 3,000. His remarks followed Ethereum dropping over 5 percent in 24 hours. The market was experiencing 812 million dollars of Bitcoin ETF redemptions and huge Ethereum ETF redemptions. His sentiment was in line with the conservative mood among traders and analysts.
However, Ethereum promptly recovered strongly. The price went up by 45% in the month to reach over $4200. U.S. spot ETH ETF inflows were to the tune of $791.89 million in support of this rally. The decision of the SEC that stETH is not a security also enhanced it. The recovery changed the mood in the market that was previously fearful.
Hayes changed his mind on this, seeing the impetus. On-chain information revealed that he purchased ETH at more than $4,150 using a total of $10.5 million worth of USDC. This is compared to his lower initial selling price. Hayes wrote in a playful X post, “I had to buy it all again, do you forgive me? I pinky promise, I will never profit again, tagging Tom Lee of Fundstrat.
Related Reading: Hayes Sets Bold 2025 Targets: Bitcoin $250K, Ethereum $10K
Arthur Hayes Flips Bullish, ETH Tops $4,180
Hayes’ change of heart highlights his strategic approach to volatility. His first sell-off was to hedge against short-term risk. The fact that he re-enters quickly demonstrates that he believes in greater long-term possibilities. He showed malleability in adapting to the changing market signals by being decisive.
According to CoinMarketCap, Ethereum is presently trading at $4,233, up 4% on the day. There has been a positive reaction among traders who have termed the move by Hayes as a whale signal for more gains. The level of institutional interest is still high, and the total accumulated amount of ETH is now at 4.17 billion since July. This is an indication that large players believe in Ethereum as a long-term asset.
However, analysts caution that volatility remains a factor. Prices may be influenced by macroeconomic uncertainties such as world trade tensions and concerns over credit growth. The actions of Hayes can influence the other whales to do the same. In case that occurs, Ethereum might be in a position to test new highs in the weeks ahead.
In short, the buyback of Arthur Hayes indicates the trust in Ethereum’s power amid current market fluctuation. His activity demonstrates the power of traders to create sentiment and momentum. This may be the beginning of a new bullish period or simply another turn of the market.
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