The cryptocurrency area is a pretty trade the place many suspects are inclined to show flawed, even veterans and veteran individuals similar to Arthur Hayes, co-founder of Bitmex.
As reported final week, present Maelstrom executives bought a big portion of his portfolio as they thought there was a deeper market-wide revision.
On the time, Hayes, together with Pepe and Ena Holdings, had disposed of greater than $8 million in ETH. He then owned the transfer, saying the US Federal Reserve has as soon as once more determined to not decrease key rates of interest, which had been a bearish signal within the crypto market.
He additionally identified that Trump's international coverage would deliver extra turbulence within the continually unstable crypto market, which made him need to be on the sidelines.
On the time, that made plenty of sense (only a week in the past), however with many cryptocurrencies turning crimson after Trump's newest motion and the nuclear submarine motion, the market normally tends to maneuver in the other way of what individuals count on.
Previously few days alone, many digital property have posted vital worth will increase, together with ETH. In reality, the second-largest cryptocurrency was destroyed by greater than $4,000, marking a brand new multi-year excessive of $4,200. This implies you received 20% in every week. That is in stark distinction to Hayes' expectations that the value would drop to $3,000.
So Hayes took it to X once more and mentioned, “We’ve got to purchase all of it again.” Clearly, he posted an Ethereum chart and referred to ETH ever since asking for forgiveness from Tomley, one of many greatest etheric supporters. Ah, he promised he would by no means make any income once more.
I had to purchase all of it, would you please forgive me @fundstrat?
I swear my little finger, I’ll by no means make any revenue once more.
pic.twitter.com/jrwfacepe6
– Arthur Hayes (@cryptohayes) August 9, 2025
