Ethereum Falls 5% Following $1.5 Billion Bybit Hack | Airdrop Alert Pro

Bybit Hack shocked the market today, ETH was stolen by $1.46 billion, one of the largest Safety A historical loophole. With the liquidation of stolen assets, Ethereum’s price plummeted by 5%, affecting key technical indicators.

Speculation about Bybit’s next move is increasing, with some prompting potential market buybacks to compensate users, which could create enormous buying pressure. But as the situation continues to unfold, how Ethereum prices will still perform in the coming days.

Will Bybit Hack bring strong buybacks?

Earlier today, Bybit, one of the largest cryptocurrency exchanges, was hacked. Exceed $1.46 billion worth of Ethereum is stolen from its hot walletmarking one of the largest security vulnerabilities in encryption history.

The CEO confirmed this week that attackers deceive Bybit’s security system, causing wallet signers to unknowingly approve changes to smart contract logic, Give hacker control.

The stolen ETH is being liquidated, causing Ethereum’s price to fall by more than 4%. After the assets were stolen, the hacker’s address began sending money to dozens of different wallets.

Some users speculate on BYBIT’s next move to restore users’ funds.

Some analysts claim If Bybit is unable to recover the stolen $1.5 billion, they may promote ETH to maintain users’ funds, which could create bullish buying pressure. However, there is no guarantee that this will happen, or because Bybit’s next step is still developing.

Recently, Arkham posted a bybit cold wallet on X Transfer over $500 million to another Bybit Walletit is recommended that the exchange be ready to prepare funds for users to reimburse after hackers.

Indicators indicate that stolen assets affect Ethereum prices

Recently, hackers that influenced bybit have caused Ethereum’s relative strength index (RSI) dropped sharply from 62.8 to 51.6 in just a few hours.

This rapid decline indicates a sudden loss of buying momentum, reflecting an increase Sales pressure with stolen ETH liquidation.

Although the RSI is still above the neutral 50 points, the sharp drop indicates that bullish sentiment has been greatly weakened.

ETH has an RSI of 51.6, which remains neutral, showing balanced buying and selling pressure. It is worth noting that ETH’s RSI has been neutral since February 3, reflecting Times of mergers and market hesitation.

If the RSI drops below 50 units, it may indicate bearish momentum, while the rise above 60 will indicate new interest on buying interest.

Ethereum’s Directional motion index (DMI) chart It indicates that its average direction index (ADX) is currently 14.9, indicating a weaker trend.

Meanwhile, +DI fell from 29.6 to 20.94, showing a drop in buying pressure since Bybit Hack. Instead, -DI has risen from 11.3 to 16.3, demonstrating sales pressure As stolen Ethereum has Clearing.

This shift indicates that market sentiment has changed and sellers have more control over price movements.

ADX measures trend strength with a value below 20 indicating that the trend is weak or there is no trend regardless of direction. The decline in +DI and the rise in -DI indicate that bearish pressure is increasing and bullish momentum is weakening.

Since ADX is still low, ETH may remain in the consolidation phase, lacking strong directional movement. However, if -DI continues to rise above +DI, ETH may face greater sales pressure, which may lead to further price drops.

How will the Ethereum market change after hacking?

If liquidation continues or user confidence weakens after Bybit Hack, ETH can be tested very quickly for $2,551 support.

A break below this level could result in a drop to $2,160, marking an increase in sales pressure.

On the contrary, if Bybit manages to reclaim the stolen assets or experience significant purchasing pressure, ETH price Resistance can be tested for $3,020. Breaking this level could raise the price to $3,442, the highest point since the end of January.