Arthur Hayes, co-founder of BitMEX, has put Ethereum back in the spotlight, calling it his "number one pick" in a weekend interview and describing it as "one of the most unloved large-cap assets in crypto." He argued that ETH could deliver a 3x to 5x move "pretty quickly," while acknowledging that the asset has long underperformed Bitcoin and had faded from investor focus.
The comments coincide with an improving ETH/BTC ratio and technical strength in Ether. ETH is holding in the mid-$2,400s after pulling back from Sunday's high near $2,500. The 14-day RSI is at 76.3, signaling overbought conditions, and spot inflow data remains thin. Traders are watching the $2,500 resistance zone: a high-volume break could open the path toward $2,580 and then $2,750, while failure to consolidate above $2,500 could send ETH toward $2,380 and $2,300, with the 200-day moving average at $2,245 as major support.
Hayes has not abandoned Bitcoin despite the Ethereum rotation call. He still projects BTC could reach roughly $1 million within four years on the back of potential broad money printing. Bitcoin traded near $78,500, down about 0.20%, with dominance at 59.79%. For Ethereum investors, Hayes emphasized that the ETH/BTC pair remains the key indicator: a sustained uptrend in that ratio would confirm Ethereum's relative strength and could attract renewed capital inflows. This is not investment advice.
