Wallet Linked to Arthur Hayes Acquires $5.4M in ETH Following US-Iran Deal
- A wallet possibly tied to Arthur Hayes purchased 3,000 ETH for approximately $5.42 million on June 15.
- The purchase occurred shortly after a US-Iran peace deal was announced, improving sentiment in digital asset markets.
- Hayes had recently been liquidating other holdings, including Hyperliquid and Zcash, framing his actions as macro de-risking.
- Despite trimming altcoins, Hayes remains bullish on Ethereum, projecting its price could reach between $10,000 and $20,000 in the current cycle.
- On the same day, Bitcoin surged past $66,500 following comments from Donald Trump about resumed shipping through the Strait of Hormuz.
The recent acquisition of ETH by a wallet linked to Hayes highlights shifting dynamics in the cryptocurrency market following geopolitical developments. The reopening of the Strait of Hormuz is expected to ease supply fears and positively impact risk assets like Bitcoin and Ethereum.
With over $4.8 billion exiting US Bitcoin ETF products since May, traders remain cautious despite the positive movements in Bitcoin and Ethereum prices.(Source)
