Arthur Hayes Moves Millions—Is a Drop Below $3,000 Next for Ethereum?

Jakarta, Pintu News – The price of Ethereum (ETH) experienced a sharp decline, recording a correction of more than 10% in the past week as bearish sentiment continued. The asset failed to hold the support level at $3,200, which then triggered further downward movement.

On the other hand, the overall crypto market recorded a decline of 0.5% in the last 24 hours. This correction brings the total weekly decline to 8.1%, mainly triggered by institutional fund withdrawals as well as increased market fear. Bitcoin (BTC) also saw a significant correction, dropping below $100,000 and now hovers around $95,000.

Arthur Hayes’ Crypto Sale Sparks Market Concerns

Arthur Hayes has reportedly sold a large amount of crypto assets during this week, drawing renewed attention from market participants. On-chain data notes that in the last two days, he offloaded around 1,480 ETH with a transaction value of $4.7 million amid sluggish market conditions.

Read also: Ethereum Price Crashes to $2,900 Today: ETH Shows Strengthening Potential?

The last time Hayes sold Ethereum was on August 1, which coincided with the market bottom. He then bought ETH back nine days later at a higher price. This pattern has again sparked debate regarding his current strategic move.

Reports also suggest that he sold some altcoins. According to the data, more than $8 million worth of tokens were transferred to the exchange, including Ethereum and some small-cap assets.

This event led to speculation in the crypto community. Some market participants saw Hayes’ actions as a signal of preparation for a deeper market decline.

Ethereum ETF experiences massive outflows in a week

Recent data shows that Ethereum ETF products have experienced significant withdrawals, with weekly outflows totaling $728.3 million. Daily figures indicate continued redemptions by a number of ETF issuers, reflecting increased investor caution.

One leading asset manager was the biggest contributor to the decline after selling $421.4 million worth of ETH. All funds, regardless of differences in fee structures or staking features, experienced consistent outflows throughout the week.

Read also: How Far Will Bitcoin Price Fall? Here’s How Analyst Ted Pillows Predicts

Will Ethereum Price Fall Below $2,900 If Bulls Fail to Take Control of the Market?

Ethereum’s price recently corrected to $3,180, recording a 1% drop in the last 24 hours.

The MACD indicator showed a crossover to the positive side of the signal line, signaling the beginning of an improvement in market sentiment. The histogram also turned slightly green, signaling a gradual shift in momentum. However, the MACD values are still in the negative zone, signaling that the buying pressure is not yet strong enough to reverse the trend.

The RSI is at around 48, reflecting neutral market conditions after a prolonged period of weakness. To confirm a shift in the bullish direction, Ethereum should be able to break the $3,300 level.

In case of an effective breakout, the price has the potential to rise to $3,420 and then $3,550-two levels that were previously the stopping points of the price movement. If the momentum continues above these levels, the next target could be $3,700.

Conversely, failure to break the resistance could push the price back to $3,050. Stronger selling pressure could drag the price down to $2,900, which is the last major support level before deeper downside risks emerge.

If the bears break this limit clearly, it could trigger a broader bearish trend and amplify the downward pressure on ETH.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Arthur Hayes Moves Millions: Is Ethereum Price About to Crash Below $3,000? Accessed on November 18, 2025