After Offloading $8.3M in ETH, Arthur Hayes Says He Bought It All Back

Arthur Hayes Buys Back $10.5M in ETH Days After Offloading $8.3M, Signaling Renewed Confidence

BitMEX co-founder Arthur Hayes appears to have reversed his bearish outlook on ether (ETH), repurchasing millions in the asset just days after exiting his position.

Last week, blockchain data from Arkham Intelligence revealed that Hayes sold 2,373 ETH—worth approximately $8.3 million at the time—as ETH hovered around $3,500. The sale was part of a broader liquidation of over $13 million in crypto assets, including holdings in Ethena (ENA) and meme coin Pepe (PEPE). Hayes cited macroeconomic pressures, such as U.S. tariffs and weak jobs data, as reasons for his cautious outlook, even forecasting a potential pullback to $3,000 for ETH.

But that narrative flipped this weekend.

According to Lookonchain, an address tied to Hayes redeployed $10.5 million in USDC to reacquire ETH, with the token now trading near $4,200—its highest level since late 2021. The rapid pivot suggests a shift in Hayes’ sentiment toward renewed bullishness.

In a post on X (formerly Twitter), Hayes appeared to confirm the move, sharing an ether chart alongside the comment, “Had to buy it all back.”

The abrupt reversal comes as ETH rallies on improved market sentiment and liquidation flows, potentially reflecting broader optimism across the digital asset space. Hayes’ actions may indicate that short-term macro headwinds have been priced in—or at least, that any correction may be short-lived.