Ethereum News: A wallet linked to Arthur Hayes received 3,000 ETH worth $5.42 million from market maker Flowdesk on June 15, according to on-chain tracker Lookonchain, as Ethereum surged nearly 6% following news of a peace deal between the United States and Iran.
The ETH purchase indicates that Hayes is returning to direct exposure to ETH after weeks of de-risking the altcoin, and in doing so, at a time when a significant macroeconomic headwind has just dissipated.
The removal of geopolitical risk was decisive. US President Donald Trump announced the conclusion of the Iran deal and confirmed that maritime traffic through the Strait of Hormuz had resumed, sending crude oil prices up more than 5% to around $80.53 per barrel.
Lower energy prices directly reduce inflationary pressure, which improves the macroeconomic calculus for high beta assets. Ethereum’s response was immediate: ETH price surged to $1,828, its highest level in over a week, outperforming most major cryptocurrencies during the session.
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Ethereum News: Whale Buying Extends Beyond Hayes
Buying whales was not limited to the Hayes wallet. On-chain data from Lookonchain showed that the geministar.eth address withdrew 21,136 ETH worth approximately $37.05 million from Binance through a series of transactions on the same day.
Together, the two buyers accumulated more than $42 million in ETH in a matter of hours, a scale of accumulation that reflects institutional-level conviction and not a continuation of retail momentum.
Hayes’ decision follows a deliberate portfolio reset. In his essay of June 8 Reality checkMaelstrom’s CIO disclosed short positions in Hyperliquid, Near Protocol, Worldcoin and Zcash, describing these exits as defensive responses to macro uncertainty rather than thesis shifts.
Bitcoin and Ethereum remained explicit core holdings throughout this rotation, making purchasing ETH from Flowdesk a reload of a position he never fully abandoned.
ETH price rally tests key technical resistance
The ETH rally has structural support beyond the macro catalyst. On the daily chart, Ethereum broke above a descending trendline that has capped every bounce since late April, clearing the upper boundary of a bear flag that formed during the decline from around $2,400.
The daily MACD has produced a bullish crossover and the Chaikin Money Flow indicator is rising, both consistent with a decrease in selling pressure rather than a quickly ending sentiment spike.
The next significant level is the 0.618 Fibonacci retracement near $1,858, an area that should act as support during any retest to confirm that the bear flag is invalidated.
Analyst Ali Martinez reported an ascending triangle on the 4-hour chart, projecting a move towards $1,850, placing his target almost exactly at that resistance.
A clear break above $1,858 on volume would significantly shift the short-term structure in ETH’s favor.
Hayes predicts that ETH could reach $10,000 to $20,000 before the end of the current cycle, citing the expected expansion of liquidity and Ethereum’s position in decentralized finance.
The June 15 purchase, executed through a professional liquidity desk and timed around a macroeconomic pivot, is consistent with this thesis playing out in practice rather than just in print.
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