Despite Ethereum’s 37% price decline in the last month, major institutional players are accumulating the asset. Key figures like Arthur Hayes and the firm BitMine, founded by Tom Lee, have made significant purchases worth millions. While the market appears emotionally cold and recent buyers face losses, some analysts view the current levels as a potential bottom for a long-term recovery.
While small investors panic over Ethereum’s 37% drop, major institutions are treating the crash as a buying opportunity. At press time, ETH was trading around $2,013, a level perceived as risky by many.
According to on-chain data, Arthur Hayes deposited 1,000 ETH worth approximately $2 million into an exchange. Simultaneously, Tom Lee‘s firm BitMine purchased an additional 45,759 ETH valued at $90.8 million. This purchase increased BitMine’s total holdings to 4.37 million ETH, though the firm now holds an unrealized loss exceeding $8 billion based on its average entry price.
Some analysts remain optimistic about Ethereum’s long-term trajectory despite the weak price action. One analyst noted, “ETH is down 33% since the start of 2026. I think ETH is bottoming here. I predict $10,000 ETH by the end of 2027.”
Market data indicates Ethereum is in a phase of extreme coldness, with key sentiment indicators near zero. This suggests market emotion has largely disappeared, often occurring after retail investors have sold in fear.
The MVRV ratio shows investors who bought in the last 30 days are deeply underwater, while short-term trader activity is flat. This combination points to a low-energy market lacking strong buying conviction. The actions follow other high-risk behavior, such as trader Jeffrey Huang reportedly losing over $27.5 million and increasing leveraged bets.
