Arthur Hayes is back in the ETH market. The BitMEX co-founder bought 1,332.5 ether for $2.53 million on July 20, his second multi-million-dollar accumulation in the past week. The purchase came as Ethereum's price climbed above $1,900 for the second time in seven days — a level Hayes himself had sold into earlier this year.
Second big buy in a week
Hayes' latest trade follows a July 16 purchase of 1,293 ETH for the same $2.53 million, when the price was above $1,900. Before that, he had sold over $10 million worth of ether at prices under $1,700. The pattern — selling low, buying higher — has drawn attention, though Hayes hasn't publicly explained his strategy. The timing of the July 20 buy, right as ETH reclaimed $1,900, suggests he sees room to run.
Analyst outlooks diverge
Not everyone agrees on where ETH goes from here. Analyst KALEO predicts a climb to $2,300 within a month but warns of a potential dump to $1,200 in September. Crypto Patel takes a longer view, calling the $1,200–$1,800 range an accumulation zone and targeting $10,000–$20,000 in the next bull cycle. Meanwhile, Merlijn The Trader is watching the ETH/BTC pair, noting a breakout above 0.029 BTC would solidify a bullish setup — but a drop below 0.026 would invalidate it. He compared the current pattern to 2017.
Whale activity picks up
Hayes isn't the only big player moving ether. This week, one whale bought $13.5 million worth of ETH, another scooped up 10,501 ETH for $20 million, and a third withdrew 12,800 ETH from Binance. The accumulation spree adds to the sense that large holders are betting on a recovery — or at least hedging against a deeper slide. Whether that bet pays off may depend on whether ETH can hold $1,900 through the end of July.
