Emre Yumlu 
BitMEX co-founder Arthur Hayes has painted a bullish outlook for Ethereum, predicting that the world’s second-largest cryptocurrency could climb all the way to $20,000.
Hayes Buys Back ETH and Sets His Price Target
In a recent interview, Hayes revealed that he had repurchased some of the ETH he previously sold. “The chart shows it’s going higher, so you can’t fight the market,” he stated, adding that Ethereum could reach between $10,000 and $20,000 before the end of the current cycle.
When comparing Ethereum with Solana (SOL), Hayes said that his portfolio is currently overweight on ETH, highlighting his stronger confidence in Ethereum. He added, “My base case is that we are entering a massive bull market, and all financial assets tied to what Trump now considers important will see significant gains.”
Arthur Hayes just admitted he bought back ETH because “the chart says it’s going higher.”
He sees Ethereum running up to $20K this cycle.
He’s overweight $ETH 🚀 pic.twitter.com/Yd3q1t0aCe
— SamAlτcoin.eth 🇺🇸 (@SamAltcoin_eth) August 21, 2025
Last week, Hayes accumulated 1,500 ETH worth $8.4 million, alongside major positions in top DeFi tokens such as LDO, ETHFI, and PENDLE.
Ethereum vs. Solana: Which Will Perform Better?
Hayes believes that both Ethereum and Solana will see bullish momentum during this cycle, but ETH will likely deliver stronger overall performance. While Solana may show larger short-term moves, Hayes emphasized Ethereum’s long-term advantages.
Is ETH Close to a Breakout?
According to CoinMarketCap data, Ethereum fell 0.64% in the past 24 hours to $4,289 but quickly recovered to trade at $4,306.
Strong demand for a spot ETH ETF and increasing institutional inflows have supported recent price gains. Companies like Bitmine and Sharplink Gaming have accumulated more than 2 million ETH since June, underscoring the growing interest in the asset.
Over the past 30 days, Ethereum has surged by more than 15%, reaching a local high of $4,700 and moving closer to its all-time high.
Arthur Hayes’ $20,000 prediction for Ethereum doesn’t seem far-fetched if macroeconomic conditions and ETF demand align. For now, the crypto community is watching Hayes’ wallet activity closely, as well as mid-cap tokens across the Ethereum ecosystem that could benefit from the next leg of the bull run.
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