Bybit Hack: What Happened and How It’s Affecting BTC Right Now
What Happened?
On February 21, 2025, Bybit suffered a major security breach, resulting in the theft of $1.4 billion in Ethereum (ETH).
The attack compromised one of Bybit’s cold wallets, raising serious concerns about exchange security.
Bybit CEO Ben Zhou assured users that all client funds remain safe and that the exchange is fully operational.
How Is This Affecting the Market?
The hack has triggered negative sentiment in the crypto space, leading to a drop in BTC’s price.
BTC fell to $96,450, down 1.92% intraday, after initially trading near $99,505.
The uncertainty around exchange security risks is putting pressure on the market.
What’s Next for BTC?
If BTC reclaims key resistance levels, it could recover quickly, as hacks usually have short-term effects.
If fear spreads, we might see further downside before stabilization.
Technical levels to watch: $98,500 ish - $99,000 ish for a potential breakout, $96,500 ish as a key risk level.
💡 This is why security matters in crypto. If you are trading on centralized exchanges, always have a plan for security and risk management.
"Do you think this Bybit hack will have a lasting impact, or is this just another temporary dip? Drop a comment and let’s discuss."
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