The cryptocurrency area is a compelling trade that tends to show many doubters incorrect, even veterans and seasoned contributors corresponding to BitMEX’s co-founder, Arthur Hayes.
As reported final week, the present Maelstrom exec bought an enormous portion of his portfolio as he envisioned a extra profound market-wide correction was within the making.
On the time, Hayes disposed of greater than $8 million price of ETH, alongside some PEPE and ENA holdings. Afterward, he owned as much as the transfer, saying that the US Federal Reserve had determined as soon as once more to not decrease the important thing rates of interest, which was a bearish signal for the crypto market.
Additionally, he famous that Trump’s overseas coverage will end in extra turbulence within the ever-volatile crypto market, which is why he most well-liked to be on the sidelines.
Though that made lots of sense on the time (which was only a week in the past), as many cryptocurrencies have been within the crimson after Trump’s newest actions and nuclear submarine actions, the market sometimes tends to maneuver in the wrong way of what folks count on.
Prior to now few days alone, many digital belongings have posted notable value features, together with ETH. In truth, the second-largest cryptocurrency simply broke previous $4,000 and marked a brand new multi-year excessive of $4,200. Which means that it has gained 20% in per week, which is in stark distinction to Hayes’s expectations of a value drop to $3,000.
As such, Hayes took it to X once more to say that he needed to “purchase all of it again.” Evidently, he was referring to ETH since he posted an Ethereum chart and requested for forgiveness from one of many largest ether proponents – Tom Lee. Oh, and he additionally promised to not take income once more.
Had to purchase all of it again, do you forgive me @fundstrat ?
I pinky swear, I’ll by no means take revenue once more.
pic.twitter.com/jRWfaCEPE6
— Arthur Hayes (@CryptoHayes) August 9, 2025
