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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.
Address: 0x795d5CFE89FbeB1e2b54f51230F25675C9Ff5eA0
Entity: Arkham -