Arthur Hayes says this time he is bullish on $ETH , and it’s not a temporary change of tune. The old logic has always been: BTC first eats liquidity and the macro narrative, then ETH comes next with the money that returns risk appetite. Now he says ETH has been stronger than BTC recently, and the chart matches too—the price is still around 2443, down 2.52% over the past 24h, but after the low at 2405 was hit, it didn’t keep breaking down. That suggests this move isn’t a one-way liquidation dump; it looks more like rotation at higher levels.
When I look at this message, the key isn’t “a celebrity calls long”—the key is whether ETH itself can hold up. Spot 24h volume is 590.24M, while futures have reached 6368.49M; futures/spot is 10.8x. This kind of tape shows that short-term control is still in the hands of leverage, not spot bids taking full command. The funding rate is only +0.0068%, not a squeeze. The longs have positions, but it’s not out of control. What this level fears most is price going sideways while positions keep building—then one single spike could wash both sides.
My move is straightforward: $ETH 2415-2430 I opened a 5% test long, with a stop-loss at 2398. First I’ll watch for 2490; if it breaks, I’ll look toward the prior high area near 2520. The reason is simple: the news gives direction, and the chart hasn’t shown an overheated funding rate. When it pulls back toward the intraday lows, there are still buyers. If 2405 breaks again, I won’t hold it—I’ll exit at stop, then after the later U.S. session, look at the order flow again before deciding whether to reverse.
Now trading ETH, don’t interpret “stronger than BTC” as blindly chasing. Strong means relatively strong, not straight up. $ETH #ETH
This post is just my own thoughts, not investment advice.
When I look at this message, the key isn’t “a celebrity calls long”—the key is whether ETH itself can hold up. Spot 24h volume is 590.24M, while futures have reached 6368.49M; futures/spot is 10.8x. This kind of tape shows that short-term control is still in the hands of leverage, not spot bids taking full command. The funding rate is only +0.0068%, not a squeeze. The longs have positions, but it’s not out of control. What this level fears most is price going sideways while positions keep building—then one single spike could wash both sides.
My move is straightforward: $ETH 2415-2430 I opened a 5% test long, with a stop-loss at 2398. First I’ll watch for 2490; if it breaks, I’ll look toward the prior high area near 2520. The reason is simple: the news gives direction, and the chart hasn’t shown an overheated funding rate. When it pulls back toward the intraday lows, there are still buyers. If 2405 breaks again, I won’t hold it—I’ll exit at stop, then after the later U.S. session, look at the order flow again before deciding whether to reverse.
Now trading ETH, don’t interpret “stronger than BTC” as blindly chasing. Strong means relatively strong, not straight up. $ETH #ETH
This post is just my own thoughts, not investment advice.