Hayes Reverses Trade with Large ETH Purchase

Arthur Hayes made a significant move in the cryptocurrency market by buying 1,337 ETH at $1,869. This purchase comes after he sent 2.5 million USDC to Galaxy Digital, reversing a sale executed just two days prior.

Hayes deposited 2,364.38 ETH into Cumberland and Galaxy Digital for 4.3 million USDC at an average of $1,821, resulting in a loss of $241,000 on the round-trip.

This move is notable as Hayes had previously purchased 7,213 ETH near $1,923. The current price of ETH sits at $1,870.42 on the 4-hour chart, within a bearish structure defined by EMA50 at $1,885.22 and EMA200 at $1,830.18.

The technical indicators show neutral momentum with an RSI of 47.31, while the MACD registers a bullish golden cross at -7.39. The position of ETH within Bollinger Bands between $1,834.13 and $1,911.56 suggests that any push toward upper-band resistance may meet selling pressure before testing the 50-EMA.