Arthur Hayes Again on a Buying Spree

Key Notes

• Arthur Hayes aggressively accumulated ENA, ETHFI, and PENDLE.
• His wallet shows multiple rapid transfers from FalconX and Cumberland.
• Hayes believes Bitcoin has already printed its cycle bottom.

Arthur Hayes, the former BitMEX CEO and one of crypto’s most influential analysts, has resumed his crypto purchases, with his on-chain activity rocketing over the past 24 hours.

The entrepreneur bought ENA

ENA $0.28

24h volatility: 0.7%

Market cap: $2.09 B

Vol. 24h: $288.28 M

, ETHFI

ETHFI $0.79

24h volatility: 7.2%

Market cap: $479.30 M

Vol. 24h: $47.76 M

, and PENDLE

PENDLE $2.73

24h volatility: 10.1%

Market cap: $449.37 M

Vol. 24h: $107.39 M

while the broader crypto market also turned green, now valued at $3.11 trillion.

Hayes Accelerates His Accumulation

Onchain Lens revealed that Hayes has been actively scooping up tokens through FalconX and Cumberland. His primary accumulation wallet received multiple high‑value transfers within minutes.

The latest batch from Cumberland included 2.01 million ENA worth $571,000, 218,000 PENDLE valued at nearly $590,000, and 330,990 ETHFI worth $257,440, all arriving in rapid succession.

Related article: Arthur Hayes Forecasts BTC Drop Below $80K Ahead of Fed QT HaltThese transfers followed earlier inflows from FalconX, and now he holds more than 4.89 million ENA, 696,000 ETHFI, and over 218,000 PENDLE, accumulated across the past day.

His wallet history, which also includes smaller dust transactions and testing transfers, confirms continuous inflows.

Hayes’ wallet transfers. | Source: Arkham

Hayes has repeatedly floated ultra‑bullish valuations for privacy coins, famously predicting that ZEC

ZEC $501.0

24h volatility: 1.2%

Market cap: $8.23 B

Vol. 24h: $1.04 B

could one day reach $10,000. He has also been bullish on ENA.

Market Rebounds After BTC Flash Crash

Bitcoin

BTC $90 863

24h volatility: 4.9%

Market cap: $1.81 T

Vol. 24h: $76.67 B

recently dropped to around $80,500. The former BitMEX head argued that this drop likely marked the cycle floor and claimed that the sell‑off to tightening dollar liquidity rather than structural weakness.

Improving liquidity conditions, as the US Federal Reserve nears the end of quantitative tightening (QT), alongside a jump in bank lending, has boosted confidence in crypto.

Markets are now pricing in a 79% chance of a December rate cut and Hayes expects liquidity to turn risk‑positive. It is important to note that Hayes sees BTC accelerating toward the $200,000 to $250,000 range if the Fed expands liquidity.

Cursed ETH Timing

Earlier this month, Hayes sold more than $7.4 million worth of tokens across several altcoins, including 1,480 ETH. Critics said that his last major ETH sale in August occurred at the bottom of the dip, forcing him to buy back at higher prices only days later.

This pattern has led some observers to joke that Hayes’ ETH trades are “cursed,” with prices jumping shortly after he exits.

Despite the recent selling spree, Hayes appears more convinced than ever that the market is preparing for another leg upward.

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