Hayes Adds 3,298 ETH in OTC Deal Amid Market Crash Fears

Arthur Hayes has continued his accumulation of ETH by purchasing an additional 3,298 tokens in an over-the-counter (OTC) transaction. This deal was facilitated through FalconX and Galaxy Digital, bringing Hayes' total to 7,212.6 ETH at an average price of $1,916.

The purchase comes amidst fears of a crypto market crash, which have kept institutional desks active on the bid side. However, technical indicators suggest that the price may be due for a pullback before continuing its trajectory.

According to charts, the ETH price is currently sitting at $1874.93, below the EMA50 resistance level of $1896.13. The MACD death cross signal indicates sustained bearish momentum, while the neutral RSI reading of 42.27 and Bollinger upper band of $1976.37 suggest that a pullback towards the lower band at $1824.17 is likely before continuation.