Arthur Hayes bought 3,298 ETH (~$6.39M) hours before Ether fell from $1,960 to $1,872, bringing his July 15–onward accumulation to 7,213 ETH for $13.87M at an average price of $1,923 and leaving him roughly $368,000 underwater. The OTC buys routed through Galaxy Digital, FalconX and Cumberland signal continued institutional accumulation and token adoption, but the immediate ~5% pullback amid broader crypto market weakness and a key Fed meeting makes this a mixed short‑term signal for ETH price direction.

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In Brief

Arthur Hayes bought 3,298 ETH ($6.39M) a few hours before Ether tumbled around 5%.
Since July 15, Hayes has bought 7,213 ETH averaging $1,923 per token.
Hayes now sits on an unrealized loss of roughly $368,000 on the position.

Arthur Hayes bought 3,298 more Ether (ETH) worth $6.39 million hours before Ethereum’s spot price slid from $1,960 to $1,872.

The purchase extends a buying streak that began July 15. Hayes has now spent $13.87 million on 7,213 ETH at an average price of $1,923, leaving him roughly $368,000 underwater.

A Buying Streak Built in Pieces

Hayes assembled the position through a string of over-the-counter trades. Onchain trackers flagged transfers to Galaxy Digital, FalconX, and Cumberland since mid-July. Single purchases ranged from roughly 645 ETH to about 1,330 ETH.

Arthur Hayes(@CryptoHayes) bought another 3,298 $ETH($6.39M) 3 hours ago.Since July 15, Arthur Hayes has bought a total of 7,213 $ETH($13.87M) at an average price of $1,923 and is now down ~$301K.https://t.co/gau6egd7Vm pic.twitter.com/BoElOKmmaG
— Lookonchain (@lookonchain) July 28, 2026

The accumulation followed a reversal. Hayes closed his ETH position in late June at a loss of about $606,000. He then started rebuying on July 15, as Ether recovered above $1,750.

Hayes’ rebuilding lines up with a broader institutional case for Ether. Fundstrat’s Tom Lee has made a similar argument, saying institutions are moving past simply trading Ethereum toward building on it. His Ethereum bull case points to BlackRock’s tokenized fund and Robinhood’s ETH-based fee token.

Ether Slides With the Broader Market

Ether’s drop came as broader crypto markets pulled back Tuesday. The Federal Reserve’s two-day policy meeting concludes this week, and traders are watching for signals on interest rates.

Whether this marks a bottom or another early entry is unclear. That depends on whether Ether can reclaim the $1,900 level it lost in the selloff.

ETH fell rapidly just after Hayes’ latest purchase. Image Source: Coin Gecko.

A Track Record of Bold Reversals

The Bitmex co-founder built his reputation on bold trades. He often exits a position just as fast as he enters it.

Hayes has talked up tokens like Hyperliquid’s HYPE, Zcash, and Worldcoin in the past. He then quietly closed those positions once sentiment turned.

Hayes and his Bitmex co-founders pleaded guilty in 2022 to Bank Secrecy Act violations tied to the exchange’s anti-money-laundering failures. President Trump pardoned all three in March 2025, wiping out the convictions.

Read the article at BeInCrypto