According to @lookonchain, Arthur Hayes sold 2,373 ETH for approximately $8.32 million about a week before the post when ETH traded near $3,507 (source: @lookonchain on X). According to @lookonchain, roughly four hours before the post he transferred $10.5 million USDC, described as intended to buy back ETH at a higher price (source: @lookonchain on X). According to @lookonchain, this sequence reflects an on-chain rotation from ETH to USDC and back to ETH at a higher level, based on wallet activity they tracked (source: @lookonchain on X).