Arthur Hayes Sells 6,000 ETH at Loss as Ethereum Whales Continue Buying

BitMEX co-founder Arthur Hayes is back in focus after making a surprising Ethereum transaction that has sparked debate across the crypto market. According to recent blockchain data, Hayes sold a significant amount of ETH at a loss, raising questions about his short-term outlook on Ethereum despite his reputation for buying low and selling high.

Data shared by Lookonchain shows that Hayes accumulated approximately 5,900 ETH over the past few days, spending around $10.58 million at an average purchase price of $1,793 per token. However, he later sold 6,000 ETH at roughly $1,690 per coin, receiving about $10.14 million. The transaction resulted in an estimated loss of $606,000, an unusual move for the veteran crypto trader.

The sale comes as Ethereum price continues to struggle near the critical $1,700 level. ETH recently dropped to a 24-hour low of $1,670, reflecting persistent selling pressure and cautious market sentiment. Hayes’ decision to exit part of his Ethereum position has added to investor concerns, especially during a period of heightened volatility in the broader cryptocurrency market.

Despite the bearish signal from Hayes’ trade, several large investors appear to remain optimistic about Ethereum’s long-term potential. Another report from Lookonchain revealed notable whale accumulation activity. Investment firm K3 Capital reportedly withdrew 10,000 ETH worth approximately $16.92 million from Binance, while a wallet linked to crypto entrepreneur Chun Wang acquired 7,650 ETH valued at nearly $12.93 million.

Market analysts remain divided on Ethereum’s next move. Crypto analyst Ted Pillows recently suggested that ETH could rally toward the $1,900 level if buying momentum returns. However, he also warned that increased selling pressure could push the cryptocurrency down to the $1,500 support zone.

Hayes’ latest Ethereum sale follows other recent portfolio adjustments, including the liquidation of his Worldcoin (WLD), Hyperliquid (HYPE), and NEAR holdings. As a result, traders are closely monitoring Ethereum price action and whale activity to determine the asset’s next major direction.