TLDR
- Arthur Hayes bought 1,290 ETH worth $2.5 million via FalconX, signaling institutional confidence
- Spot Ethereum ETFs recorded $104M in net inflows over three consecutive weeks
- ETH has gained over 20% since testing multi-year support at $1,580
- Analysts project long-term targets between $10,000 and $20,000 based on historical cycle comparisons
- Key resistance sits at $1,945, with $2,145 as the next major upside target if buyers hold
Arthur Hayes made a deliberate move into Ethereum this week, acquiring 1,290 ETH for approximately $2.5 million through FalconX. He deposited funds before completing the purchase, pointing to a planned accumulation rather than an impulsive trade.
🚨ARTHUR HAYES ADDS ANOTHER $1.2M IN $ETH!
BitMEX co-founder Arthur Hayes bought 645 $ETH.
Since July 15 he has accumulated a total of 3,915 $ETH worth $7.47M at an average price of $1,909, according to Lookonchain data.
The position is currently down about $113K. pic.twitter.com/rD4bqin5r9
— Crypto Banter (@crypto_banter) July 26, 2026
Hayes has historically entered positions during uncertain market conditions. His move drew attention because ETH was still trading below key resistance levels at the time of purchase, suggesting he viewed current prices as a buying opportunity.
Exchange data showed positive spot netflows of $5.58 million, meaning more ETH moved onto exchanges than off them. While that could indicate some holders preparing to sell, the figure remained modest compared to previous spikes seen earlier this year.
Futures Markets Show Bullish Conviction
Derivatives data backed up the bullish sentiment. Open Interest rose 2.2% to $11.97 billion, reflecting new capital entering futures markets. Funding Rates jumped 3,092% in 24 hours to 0.003479, showing that long traders were willing to pay a premium to hold their positions.
Analyst Ali Charts noted that $1,580 was the key level to buy, with ETH gaining more than 20% since testing that multi-year support zone.
$1,580 was the level to buy.
Ethereum $ETH has now gained more than 20% since testing its multi-year support. https://t.co/eDUNoRnGzw pic.twitter.com/q5UL7Vkeye
— Ali Charts (@alicharts) July 26, 2026
Spot Ethereum ETFs added further weight to the bullish case, recording $104 million in net inflows for the week of July 20–24, marking a third straight week of positive flows, according to Wu Blockchain.
Long-Term Cycle Targets Range from $10,000 to $20,000
Analyst Crypto Patel shared a two-week chart comparing ETH’s current structure to the cycles that peaked in 2017 and 2021. Both included a rally, a correction, and an accumulation phase before the next expansion. His chart places $10,000 as a key long-term level, with a broader potential peak between $16,000 and $22,500.
If you doubt Ethereum today, Then the chart will humble you tomorrow.$ETH pic.twitter.com/Mh0pGTXlby
— Crypto Patel (@CryptoPatel) July 25, 2026
Analyst Freedom By 40 published a monthly chart pointing to a possible $20,000 target by 2028, based on a projected 1,900% move from the lower boundary of ETH’s current range.
Both analyses depend on ETH holding support between $1,000 and $1,350 and eventually breaking above the previous record high near $4,800.
ETH is currently trading near $1,864, with immediate support at $1,830 and resistance at $1,945. The next major upside level sits at $2,145.
