Arthur Hayes, the BitMEX co-founder, has named Ethereum his top crypto pick, saying in an interview that he expects it to run 3-5x 'pretty quickly' and calling it 'one of the most unloved large-cap assets in crypto.' He also projected Bitcoin to reach roughly $1 million within four years, driven by potential mass money printing. The comments land as ETH sits in the mid-$2,400s, having slipped from Sunday's high near $2,500.
Ethereum's technical squeeze
Ethereum's RSI is at 76.3, technically overbought, while price grinds against resistance at $2,500. Spot inflow data remains thin. If ETH clears $2,500 with volume, targets are $2,580 and then $2,750, supported by bullish MACD and price above moving averages. Failure to consolidate above $2,500 could lead to a rejection toward $2,380, then $2,300, and if the 200-day moving average at $2,245 breaks, a retest of $2,030 is possible.
That's a wide range, and the overbought reading suggests the next move could be sharp either way. Hayes's bullish call adds a narrative layer, but the chart isn't confirming it just yet.
Bitcoin's $1 million bet
Hayes's Bitcoin projection hinges on mass money printing, a theme he's hammered for years. He sees the $1 million mark as a realistic outcome within four years. Bitcoin is currently at $78,500, down 0.20%, with a market dominance of 59.79%. That's a long way from seven figures, but Hayes isn't known for conservative forecasts.
Bitcoin Hyper's $33 million presale
Separately, Bitcoin Hyper is building a Bitcoin Layer 2 with native SVM integration, aiming for execution speeds faster than Solana while settling to Bitcoin's base layer. Its presale has raised $33 million, with tokens priced at $0.0136855 and staking rewards at 35% APY. The project's Decentralized Canonical Bridge targets slow transactions, high fees, and zero programmability without compromising Bitcoin's security model.
Whether that bridge actually delivers remains an open question. The presale numbers are solid, but the real test comes when the network goes live.
For now, Ethereum's next move hinges on that $2,500 level. A clean break could send it toward $2,580, while a rejection risks a slide to $2,380. Hayes's endorsement might give bulls a reason to push, but the technicals are far from settled.
