Arthur Hayes Reinvests in Ethereum After $8.3 Million Sale, Cautions on Market Volatility
Main Idea
Arthur Hayes, BitMEX co-founder, sold and then repurchased Ethereum at higher prices, indicating his confidence in the asset despite market volatility, while also cautioning about potential macroeconomic risks.
Key Points
1. Arthur Hayes sold 2,373 ETH for $8.32 million and later repurchased the same amount at a higher price of $10.5 million.
2. Hayes expressed regret for selling, stating he would 'never take profit again'.
3. Institutions have accumulated over 1.035 million ETH (valued at $4.17 billion) since July, reflecting strong market interest.
4. Hayes warned that macroeconomic factors could push Bitcoin to $100,000 and Ethereum down to $3,000.
5. Ethereum's price rally coincided with increased institutional buying, with an average acquisition price around $3,546.
Description
Arthur Hayes, the BitMEX co-founder, recently bought back Ethereum after selling $8.3 million worth, indicating his belief in the asset’s potential despite market volatility. Hayes sold 2,373 ETH for approximately
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