Arthur Hayes Makes Major ETH Move as Ethereum Dips Below $3K

BitBoy crypto tracker Lookonchain just caught wind of an interesting market signal: Arthur Hayes has deployed 10.5 million USDC into Ethereum, marking a significant position adjustment in recent weeks.

The timing is notable. Just seven days prior, Hayes had offloaded 2,373 ETH at an average price of $3,507, pocketing approximately $8.32 million from that exit. Fast forward to today, and the crypto veteran appears to be rotating back into the asset—only this time with ETH trading considerably lower around the $2.98K level.

What This Signals for the Market

The contrast between Hayes’ recent moves tells an interesting story. His decision to re-accumulate at lower price levels suggests conviction in Ethereum’s medium-term prospects, even after taking profits just days earlier. For someone with his track record, this kind of tactical repositioning often draws attention from the broader trading community.

The 10.5 million USDC deployment reflects a calculated approach: Hayes sold at higher prices and is now building back positions as Ethereum experiences pullback pressure. Whether this represents a temporary dip-buying strategy or the beginning of a larger accumulation phase remains to be seen.

Market Context

With Ethereum currently hovering near $2.98K after retreating from the $3,507 level where Hayes exited his previous position, the current entry point is undeniably more attractive from a valuation standpoint. This kind of whale activity—especially from prominent figures in the crypto space—often serves as a barometer for institutional sentiment during volatile periods.