BitMEX co-founder Arthur Hayes named Ethereum (ETH) his top crypto pick, projecting it could climb 3 to 5 times from current levels — a forecast, not a confirmed move.
ETH is currently trading near $2,435, down about 3% over 24 hours, while Hayes reiterated a long-term Bitcoin (BTC) target of roughly $1 million within four years.
Hayes’ Maelstrom fund booked real profits on Hyperliquid (HYPE), buying in the low $30s and exiting near $75; HYPE now trades around $81, down 1.8%.
When a trader who called some of crypto’s biggest cycles starts talking multiples, people listen. Arthur Hayes, the BitMEX co-founder now running the Maelstrom fund, has publicly tagged Ethereum as his top pick, predicting it could soar 3 to 5 times from here — an explicitly forward-looking projection, not an implemented price target. As of the latest reported data, ETH was changing hands near $2,435, down roughly 3% over the past 24 hours, with retail sentiment on platforms like Stocktwits described as neutral after a burst of heightened chatter.
Why Ethereum’s Underperformance Could Be the Setup
Hayes’ bull case rests on a simple observation: Ethereum has never reclaimed its 2021 all-time high, leaving it, in his framing, one of the most overlooked large-cap crypto assets. He contrasts this with Hyperliquid (HYPE), where his own fund already captured its upside — buying in the low $30s and exiting near $75, a realized, already-completed trade. HYPE now sits around $81 after a modest 1.8% pullback, and Hayes argues the token’s remaining upside is more limited now that bullish sentiment is already priced in, unlike Ethereum’s still-unresolved re-rating story.
What This Means for Your Portfolio and Wallet
A 3-to-5x forecast on any asset is the kind of headline that moves money fast, but it remains a projection tied to shifting sentiment and monetary policy expectations, not a guarantee. Hayes links his broader Bitcoin thesis — a possible $1 million price within four years — to expectations of expansive monetary stimulus and potential Federal Reserve yield-curve control, both themes still speculative rather than enacted policy. Anyone sizing crypto exposure around these calls should weigh them as high-conviction opinions from a seasoned trader, not settled outcomes.
Strategic Positioning & Defense Ideas
Given the volatility embedded in both ETH’s recent 3% swing and HYPE’s price history, standard risk management applies: size crypto positions modestly relative to a total portfolio, diversify across asset classes rather than chasing a single multiplier thesis, and keep a cash reserve to manage drawdowns. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
What to Watch Next
Watch for further clarity on Federal Reserve policy signals around yield-curve management, continued spot ETF flow data, and whether ETH can break decisively above the $2,500 mark that recent staking-related developments have put back in focus. Full details are available via the original reporting.
