Arthur Hayes, co-founder of BitMEX and one of crypto’s most followed traders, has made a bold return to the market with a multi-million-dollar bet on Ethereum (ETH) and several DeFi tokens. The move comes less than two weeks after he cashed out a significant chunk of his holdings, sparking speculation about his short-term market outlook.
Blockchain intelligence data shows Hayes added roughly 1,750 ETH, valued at about $7.45 million, to his wallet over the past two days. At the time of purchase, ETH was trading near $4,300 — just shy of a fresh all-time high. Alongside Ethereum, Hayes also scooped up 425,000 Lido DAO (LDO) tokens worth $557,000, 420,000 ETHFi tokens worth $517,000, and 185,000 Pendle (PENDLE) tokens valued at $1.01 million.
The timing of this buyback is notable. Only nine days ago, Hayes sold more than 2,300 ETH (around $8.3 million) along with large amounts of ENA and PEPE, citing macroeconomic concerns. In a social media post at the time, he hinted that U.S. tariff policies and slowing credit creation could limit global growth — suggesting Bitcoin might test $100,000 and Ethereum could dip toward $3,000 before rebounding.
Ethereum Surge Triggers Market Reversal for Hayes
Hayes’ recent post on X revealed a change of heart. “Had to buy it all back, do you forgive me @fundstrat?” he joked, adding that he’d “never take profit again” — an apparent nod to the fact ETH had pushed past $4,300 while he was on the sidelines.
By doubling down on DeFi tokens such as LDO, ETHFi, and Pendle, Hayes is signaling renewed confidence in altcoins. These tokens power essential DeFi services, including staking, liquid staking, and yield farming, making them key players in the decentralized finance space.
Market analysts say Hayes’ moves could hint at an approaching “altseason,” when altcoins outperform Bitcoin in both momentum and price growth. However, some traders see this as simple portfolio rotation rather than a full-blown bullish signal.
Despite economic headwinds and regulatory uncertainties, investor interest in altcoins appears to be building again. If this trend continues — and Ethereum maintains its upward trajectory — the coming weeks could bring new price records across the crypto market. Hayes’ aggressive re-entry might be the early spark.
