Ethereum Flatlines But Arthur Hayes Calls It His Top Pick For Big Gains

TL;DR

• Hayes described Ethereum as his “number one” pick and projected a 3x to 5x rise for the asset in the short term.
• ETH’s RSI stands at 76.3, in overbought territory, facing a key resistance level at $2,500.
• Bitcoin maintains a dominance of 59.79% in the market, making the rotation toward ETH more theoretical than proven.

BitMEX co-founder Arthur Hayes spoke about Ethereum this weekend and declared that the asset is his “number one” in an interview. Hayes argued that ETH could rise between 3 and 5 times “pretty fast” and described it as “one of the most overlooked large-cap assets” in the current market.

At the time of the interview, Ethereum is trading in the mid-$2,400 range, after approaching $2,500 over the weekend. The relative strength index (RSI) stands at 76.3, technically in overbought territory, which creates a tension between the narrative momentum and its chart signals. Spot capital inflow data remains weak, highlighting the gap between the bullish narrative and what is actually reflected in on-chain activity.

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