Former BitMEX Chief Executive Officer Arthur Hayes has once again attracted attention across the cryptocurrency industry after rapidly entering and exiting a large Ethereum position within a matter of days.
According to blockchain analytics platform Lookonchain, Hayes began accumulating Ethereum on June 17 and eventually acquired approximately 5,900 ETH for a total investment of around $10.58 million.
Data shows that his average purchase price was close to $1,800 per token. However, on Friday, wallets linked to Hayes reportedly sold roughly 6,000 ETH for about $10.14 million.
The transaction resulted in a loss exceeding $600,000 in less than a week. The trade has generated discussion among market participants because Hayes is known for making bold and often unconventional market moves.
Some observers view the sale as a signal of short-term caution, while others believe it simply reflects an opportunistic trading strategy. Regardless of the motivation, the transaction has fueled debate about Ethereum’s near-term outlook and broader market sentiment.
Arthur Hayes(@CryptoHayes) is buying high and selling low again.
Over the past 4 days, he accumulated 5,900 ETH($10.58M) at an average price of $1,793.
Just 4 hours ago, he dumped 6,000 $ETH($10.14M) at $1,690, incurring a $606K loss.https://t.co/YIuiTiAoWm… pic.twitter.com/LVCqzyTDrc
— Lookonchain (@lookonchain) June 19, 2026
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