Ethereum has experienced a significant price surge, exceeding $4,200, as Arthur Hayes reversed his bearish stance and bought large amounts of Ethereum. Institutional investors and whales have also fueled the rally, accumulating over $4.17 billion in ETH since July. 1 million ETH worth $4.17B was scooped up by big investors since July, driving a 45% price jump from $2,600 to $4,000. 1.035 million ETH have been added to institutional wallets since July 10th, according to EmBerCN. These acquisitions drove prices from $2,600 to $4,000 in just one month—a 45% gain. The increased activity has prompted Arthur Hayes to abandon his previous bearish bets and re-invest, demonstrating confidence in Ethereum’s upward trajectory despite macroeconomic concerns.