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Ethereum (ETH) just received a powerful confidence boost from one of the loudest and most established voices in crypto, as Arthur Hayes, the former BitMEX CEO and longtime market trendsetter, made his position clear: "$ETH = $10,000."
This appears not to be just another playful meme from Hayes, who is known for combining trading logic with internet chaos. It came alongside an Ethereum chart that is now showing early signs of strength.
The ETH/BTC pair, which is often watched to estimate Ethereum's strength relative to Bitcoin, seems to be reversing a two-year downtrend after bouncing back from historic lows. As long as this recovery holds, a move toward the 0.055 BTC mark could be back in play. That is more than double where it is now.
In the meantime, Ethereum is already up in dollar terms, recently reaching $2,783, with low time frames showing a clean breakout pattern. It is not parabolic yet, nor has it reached a tipping point, but the conjecture is changing.
The energy behind his post suggests more than just a casual prediction. When pressed on macro concerns, such as liquidity pressure from government bond issuance, Hayes responded that the market is not panicking, and neither is he. His view is that "the game" is on.
The $10,000 ETH target is not new — remember GCR? But Hayes' timing has changed, and in this market, timing is everything.
For traders, the takeaway is clear: ETH is getting attention from influential figures again. Although the 2021 highs are long gone, sentiment is starting to flip. If ETH catches a wave, reaching five figures will not be as difficult as it once seemed.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team