In crypto, vehicle accidents are staged daily, but BitMEX co-founder Arthur Hayes' "sell and then kneel back" successfully stole the spotlight. In early August, he sold $13.34 million in crypto assets, shouting about high risks.
Today, he again shouted on X platform about buying back ETH, and even swore to Tom Lee:
"I have to buy back everything. Tom Lee, will you forgive me? I swear I won't just take profits anymore."
A self-contradictory week has pulled Ethereum's sentiment to a high point.
8/2: Large-Scale Liquidation to Avoid the Limelight
On the 2nd of this month, Arthur Hayes dumped 2,373 ETH, 7.76 million ENA, and 38.8 billion PEPE on-chain, converting them to USDC, instantly expanding his stablecoin position to about $27.9 million.
He explained his selling concerns: US tariff war reigniting, non-farm employment increase of only 73,000, and global credit weakness. "Bitcoin will test 100,000, Ethereum will test 3,000 USD", Hayes' tone was clearly cautious at the time.
8/9 Public Confession and Quick Repurchase
Less than seven days later, the same account announced buying back ETH. No reason was given, but the market had already punched him back with price movement.
Within 24 hours of selling, Ethereum dropped below 3,600 and then bounced back to 4,000, while Bitcoin also stabilized around 115,000.
Short and Long, Two Scenarios Performed Together
Hayes has not wavered in his long-term belief. According to Ainvest, he still calls for "Bitcoin at $250,000 by the end of 2025, Ethereum at $10,000" and even "Bitcoin potentially reaching a million by 2028". His logic revolves around the US potentially printing another $9 trillion for bailout, institutional adoption driving demand, and miner selling pressure gradually thinning. As fiat continues to depreciate, crypto assets are viewed as "new gold" in macro allocation, which is his confidence in shouting such high prices.
