BitMEX crypto exchange founder and outspoken digital asset enthusiast Arthur Hayes has just sold off a huge stash of Ethereum (ETH), but that might be for the better. According to on-chain sleuths from LookOnChain, Hayes sold 1,480 Ether (ETH) coins in two days. Bit by bit, this came to a $4.7 million sell-off to B2C2 Group, a popular crypto hedge fund.
$4.7M ETH Sold: Sign Of Doom Or Closeted Bullish?
On the other hand, Arthur Hayes is notoriously known for constantly selling Ethereum (ETH) at the bottom, serving a similar inverse impulse to the largest altcoin like the good old Jim Cramer still does on the regular. On August 1, 2025, Hayes similarly sold off 2,373 ETH at a price range of $3.5K, only to see Ether (ETH) going up beyond $4K in the next 9 days.
And surely, he bought more. Between September and October, Hayes purchased a hefty bag of 327 Ethereum coins at no cheaper price than $4.4K. If history repeats itself, he’ll have to do it again, but are other big-time crypto players also actively selling? In fact, the profit-taking from last week has stopped, even though traditionally-regulated ETFs bled hard.
With Ethereum’s price now retesting the $3K support barrier, long-term sentiment is still towards the buying side. At 0.28 on the Chaikin Money Flow (CMF), this indicates the largest big player interest since October 25, 2025, signaling a wide belief among crypto whales that the $3K key support is indeed the local cycle bottom despite today’s 3.5% price pullback.
Discover Ciphera’s hottest crypto news today:
Mongraal Streams Pudgy Party, Sparking Web3 and PENGU Buzz
$2B Outflows Slam XRP, ETH & BTC On Global Sell-Off Spree
People Also Ask:
He sold around $4.7 million worth of ETH on the open market this week — pretty big personal move from the BitMEX co-founder and known crypto whale.
That’s the “closeted bullish” twist: he likely needed quick cash to stack even more ETH (or BTC) at better prices during the current dip, or to fund new positions. Whales often sell a slice to buy back lower or rotate.
Potentially, yes — history shows when Hayes publicly moves big bags it often marks local bottoms. People front-run his buys, but his sells scare weak hands out… then price rips after the dust settles.
Not guaranteed, but it’s classic “whale shakes the tree” behavior. Short-term panic can create a springboard for the next leg up once selling pressure dries up.
If you’re new, see it as a contrarian green flag, not a buy signal on its own. Smart money sometimes sells to buy back cheaper — watch volume and price action over the next days, not just the headline.
