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.

When asked $ETH vs $SOL?

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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Factors Affecting the Crypto Market 

Macroeconomic Uncertainties 

Analyst Michael van de Poppe states that weaker-than-expected U.S.GDP data has triggered a flight from risky assets. Fed Chairman Jerome Powell’s remarks highlighting inflation risks have reduced hopes for rate cuts. Meanwhile, analyst Peter Brandt emphasizes that this situation has increased selling pressure in the market. 

Geopolitical Tensions 

Crypto analyst CryptoTony notes on the X platform that negative expectations regarding Russia-Ukraine peace talks have accelerated profit-taking. Geopolitical uncertainties are creating temporary pressure on volatile assets. Analyst Benjamin Cowen states that such risks trigger short-term corrections but clearly asserts that the long-term trend remains intact. 

Technical Factors and Profit-Taking 

Technical analyst Katie Stockton indicates that the RSI indicator is approaching the “overbought” zone. Profit-taking by algorithmic traders following the rapid rise in recent weeks has fueled a short-term correction. Analyst Josh Rager adds that the liquidation of leveraged positions has deepened the decline. 

Regulatory Developments 

Crypto commentator Lark Davis says the SEC’s decision to postpone the XRP Spot ETF ruling to June 17 has caused disappointment in the market. The deferral of decisions on DOGE and Ethereum staking ETFs to October has weakened bullish expectations. According to analyst Wendy O, these delays temporarily shake investor confidence, but their long-term impact remains limited. 

Additionally, the bankrupt crypto platform FTX is set to begin its second major $5 billion payment to creditors on May 30, creating liquidity pressure in the market. 

Developments That Could Impact the Crypto Market in the Near Future 

• Fed’s Interest Rate Policy – Analyst PlanB states that the Fed’s June 2025 meeting will be critical for markets. Weak GDP data could signal rate cuts, potentially revitalizing crypto assets. However, analyst Tone Vays predicts that if inflation concerns persist, the decline could extend. 
• Crypto Reserve Moves – Analyst Anthony Pompliano notes that the Czech Republic Central Bank’s efforts to evaluate Bitcoin as a reserve asset are gaining momentum, and such institutional moves could push Bitcoin above $100,000. 
• Exchange Security – Analyst Crypto Rover explains that the $1.46 billion hack at Bybit in February 2025 has shaken confidence in exchanges. However, enhanced security measures could bring investors back. 
• Altcoin Potential – Bernstein analyst Gautam Chhugani predicts that AI (Fetch.AI) and Layer-2 (Arbitrum, Polygon) projects will shine in 2025. Developments in these projects could trigger an altcoin rally. 

The crypto market decline to $3.28 trillion stems from macroeconomic data, geopolitical risks, technical corrections, and regulatory delays. However, the market is holding at the $3.2 trillion support level and carries recovery potential. The Fed’s interest rate policies, state-backed crypto reserve moves, and exchange security measures will determine the direction in the coming weeks. 

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The post Why Is The Crypto Market Falling Today? Analysis and Predictions  appeared first on Coin Engineer.

At the recent Bitcoin2024 Conference, independent presidential candidate Robert F. Kennedy Jr. proposed that his administration would stockpile four million Bitcoin as a strategic reserve if elected. Additionally, Senator Cynthia Lummis introduced a bill aiming to encourage the US government to acquire one million BTC, or 5% of the total BTC supply, within five years.

Concerns about Government Manipulation

Macroeconomic expert Raoul Pal is wary of the potential behaviors the US government could exhibit if it amasses a significant Bitcoin reserve. In a conversation with Skybridge Capital founder Anthony Scaramucci, Pal highlighted the government’s historical tendency to misuse power and noted that possessing a large BTC reserve would grant the government immense influence over Bitcoin’s price movements.

Pal stated, “Yes, it’s positive for the crypto market because there’s a new buyer, but it’s also strange because Bitcoin was created to change government control over money, and now you’re putting the government as one of the largest buyers of private money. I don’t really like that… If the government can manipulate this, they can release it into the market, buy more, and unwittingly turn Bitcoin into something they control like interest rates, and we don’t want that.”

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