Arthur Hayes Reinvests in Ethereum After Recent Sale
- Arthur Hayes sold 2,373 Ether (ETH) for approximately $8.32 million when ETH was priced around $3,507.
- Just a week later, he purchased back into ETH with $10.5 million in USDC at prices exceeding $4,150.
- Hayes warned that macroeconomic factors could push Bitcoin (BTC) down to $100,000 and Ether to $3,000.
- Since July, over 1.035 million ETH valued at about $4.17 billion has been acquired by institutions and unknown whales.
- Ethereum’s price surged from $2,600 to around $4,000 in July, marking a significant increase of approximately 45%.
Hayes’ recent buying activity reflects confidence in Ethereum despite his earlier sell-off aimed at locking profits amid market uncertainties. The strong institutional demand for ETH indicates a robust interest in the cryptocurrency market.
After selling over $13 million worth of crypto last week, including significant amounts of ETH, Hayes has now reinvested at higher prices following Ethereum’s rally.(Source)
