Arthur Hayes Just Turned a $10.6M ETH Buy Into a $606K Loss 😬
Arthur Hayes appears to have done something traders know all too well: Buy high, then sell lower.
Over the past four days, a wallet linked to Arthur Hayes accumulated approximately 5,900 $ETH , spending around $10.58 million at an average purchase price of $1,793 per ETH.
But instead of holding through the volatility, the wallet appears to have exited the position at a loss. Just 6 hours ago, the same address transferred out 6,000 ETH worth approximately $10.14 million, at an average price of $1,690. If the #ETH was indeed sold after the transfer, the trade resulted in an estimated loss of roughly $606,000.
Just days ago, the wallet was actively accumulating ETH while many market participants were turning bullish. Now, after a pullback in price, the position appears to have been closed at a substantial loss.
Even experienced traders get caught on the wrong side of the market sometimes. And in this case, the numbers suggest Arthur's latest ETH trade was an expensive one.
