Ethereum surges to $4,200! Arthur Hayes vows: I will never take profit again.

Arthur Hayes sold and then bought back ETH within a week, publicly mocking himself. (Background: Arthur Hayes sold $13.35 million in cryptocurrency: Bitcoin will test $100,000, Ethereum will drop to $3,000) (Additional context: Arthur Hayes' latest forecast: Bitcoin $250,000, Ethereum $10,000, by the end of the year) In the crypto world, dramatic turnarounds happen every day, but BitMEX co-founder Arthur Hayes' recent 'sell and kneel back' has still managed to steal the spotlight. At the beginning of August, he sold $13.34 million in crypto assets, declaring the risks were too high. Today, he shouted on platform X that he wanted to buy back Ethereum and made a vow to Tom Lee: 'I have to buy it all back, Tom Lee, will you forgive me? I swear I will never take profit again.' A week of self-contradiction has raised Ethereum sentiment to a peak. Had to buy it all back, do you forgive me @fundstrat? I pinky swear, I'll never take profit again. pic.twitter.com/jRWfaCEPE6 — Arthur Hayes (@CryptoHayes) August 9, 2025 8/2: Large-scale liquidation to avoid the spotlight On the 2nd of this month, Arthur Hayes dumped 2,373 ETH, 7.76 million ENA, and 38.8 billion PEPE on-chain, exchanging them for USDC, which inflated his stablecoin position to about $27.9 million. He explained that the sell-off was due to three concerns: the resurgence of the U.S. tariff war, only 73,000 new non-farm jobs, and weak global credit. 'Bitcoin will test $100,000, Ethereum will test $3,000,' Hayes was noticeably cautious at the time. 8/9 Public confession and rapid repurchase In less than seven days, the same account announced the buyback of ETH. The reason was not given, but the market had already given him a punch in the face with the price. Within 24 hours after the sell-off, Ethereum dropped below $3,600 and then rebounded to $4,000, while Bitcoin stabilized around $115,000. Short positions were liquidated while long positions remained, both scripts played out together. Hayes did not waver in his long-term belief. According to (Ainvest), he still confidently claims 'Bitcoin will be $250,000 by the end of 2025, Ethereum $10,000' and even 'Bitcoin will look at a million by 2028.' His logic revolves around the U.S. potentially printing another $9 trillion to save the market, institutional adoption boosting demand, and miners' selling pressure gradually diminishing. As fiat currency continues to depreciate, crypto assets are seen as the 'new gold' in macro allocation, giving him the confidence to call for sky-high prices. Related reports Arthur Hayes (the pricing relationship of stablecoins) full text: Stop buying Circle stocks, go long on Bitcoin Arthur Hayes: Bitcoin weakness is 'only temporary,' Fed will soon turn on the printing press 'Ethereum surges to $4,200! Arthur Hayes vows: I will never take profit again.' This article was first published on BlockTempo (BlockTempo - the most influential blockchain news media).