Arthur Hayes Buys $6.39M ETH Right Before Market Drop

Arthur Hayes just added to his crypto holdings by buying nearly 3,300 Ether worth about $6.39 million. Onchain trackers spotted the over the counter trades happening just hours before the spot price of Ethereum dropped from $1,960 down to $1,872. This latest purchase extends a buying streak that started in mid July.

With this recent addition, Hayes has spent roughly $13.87 million on 7,213 Ether at an average price of $1,923. That leaves his current position slightly underwater based on the latest market dips. He previously closed an Ethereum position at a loss in late June before starting to rebuy as prices recovered above $1,750.

The broader crypto market also pulled back as traders waited for signals from the Federal Reserve meeting. Analysts are watching to see if Ether can manage to reclaim the $1,900 level after losing it during the selloff. Market participants will keep a close eye on whether Hayes decides to hold through the volatility or make another quick exit.