Arthur Hayes Buys $6.39M More Ethereum, Then the ETH Market Starts to Tumble

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 Wor