NEWSLETTER
bitcoin has experienced a quiet week, with a price at a narrow range between $ 95k and $ 100K. The Bulls have fought to recover the $ 100K brand, while the Bears have failed to break the support of $ 95K, which leads to uncertainty about the next important movement. However, fear and volatility shot Friday after the exchange of BYBIT cryptocurrencies suffered a hack of $ 1.4+ billion eth, shaking the confidence of investors and raising concerns about market safety risks.
After Hack, Cryptoquant's head of research, Julio Moreno, shared key data on x, revealing that Bybit's bitcoin reserves have decreased by ~ 2k btc as the exchange moves the funds and users withdraw their assets. Despite the decrease, Bybit still has a substantial amount of btc in reserves, which suggests that the withdrawals have been manageable and there is no immediate sign of a liquidity crisis of the entire exchange.
While bitcoin's price has remained relatively stable after the news, investors are closely monitoring the situation. If the feeling worsens and spreads fear, additional exchanges of centralized exchanges could affect the short -term address of btc. The market remains nervous, waiting to see if bitcoin will maintain key support or if greater uncertainty will trigger greater downward pressure.
The market reacts to Bybit Hack
After the eth of eth of $ 1.4+ billion on Friday, the feeling of the market overturned to fearful to fearful in just a few hours. Sudden news injected uncertainty, which led to an increase in volatility in bitcoin and the broader cryptography market. Despite a quick and transparent response from the Bybit team, some investors panicked and withdrew funds, which adds to the sales pressure on several assets.
However, Bybit remains one of the largest cryptographic exchanges worldwide, with strong btc reserves even after safety violation. <a target="_blank" href="https://x.com/jjcmoreno/status/1893042529525752269″ target=”_blank” rel=”noopener nofollow”>Cryptoquant insights in x Reveals that bycoin's bybit reserves have decreased by ~ 2k btc after hack. However, the exchange still has about 68k btc, maintaining a solid reservation to admit the withdrawals of the users and the operations of the platform.
Moreno emphasized that nothing is out of the ordinary, since the withdrawals remain within the typical exchange activity levels. The market will be closely monitored by the additional withdrawals of Bybit, since continuous exits could indicate greater panic among investors. However, if bitcoin maintains stability and demand, the impact of the Bybit trick can be of short duration.
The next few days will be crucial for bitcoin and the broader market. If btc claims the $ 98k and $ 100K levels, you could confirm that the market has absorbed the shock and is ready to push higher. However, the lack of maintenance of more than $ 95K could lead to greater downward pressure. Investors are still cautious while waiting for more data on the long -term effects of hack on the confidence of cryptographic exchange and liquidity.
bitcoin Price fights under $ 100K
bitcoin is quoted at $ 95,800 after facing a strong rejection of the level of $ 99,500, highlighting the difficulty in breaking the $ 100K resistance. Despite multiple attempts, btc has struggled to maintain a bullish impulse, it is not maintained above the exponential mobile average of 4 hours (EMA) to $ 98,100.
This consolidation in progress suggests indecision in the market, since the Bulls try to claim key levels while the bears continue to reject the ascending movements. The $ 100K brand is still an important psychological barrier, and without a strong purchase pressure, btc could remain in reach or even break.
If bitcoin cannot claim the $ 98K level and push above $ 100K in the coming weeks, it could follow a massive setback, which could send the price to lower demand levels around $ 91K– $ 94K. On the contrary, a rupture above $ 100K would confirm a bullish investment and could trigger a rally towards maximum of all time above $ 109K.
For now, short -term merchants remain cautious, monitoring whether btc can maintain support above $ 95K or if another leg is imminent. The next few days will be crucial to determine if bitcoin continues to consolidate or finally leaves its current range.
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