The universe of cryptos is an arena where each major incident redraws market dynamics. Indeed, this colossal hacking of $ 1.4 billion suffered by Bybit, one of the largest centralized exchanges, asks an important question: can Ether still cross the $ 3,000 despite this shock? This hacking, the most important in the history of cryptos, is part of a period when the Ethereum market vacillates between hope and uncertainty. Bybit reacted by the acquisition of more than 106,000 ETH to compensate for his losses. Such a situation caused a purchase pressure that could reverse the downward trend of the asset. However, will this massive redemption suffice to reverse the steam, or does the threat of massive liquidations risk destroy this rebound?
Bybit shaken by a hacking of $ 1.4 billion
On February 21, 2025, Bybit was the victim of the largest flight of cryptos ever recorded, with an astronomical loss of $ 1.4 billion in steth and other active. According to the first elements of the investigation, The Lazarus groupaffiliated with North Korea, is pointed out as the author of this sophisticated attack.
Rather than being overwhelmed by this crisis, Bybit opted for an offensive strategy. In just a few days, the platform purchased 106,498 ETH, an injection of almost $ 295 million on the market, in order to reconstruct its reserves and reassure its users. These massive acquisitions, made via over -the -counter transactions (OTC), half reduced the initial loss to the platform.
However, this saving maneuver does not guarantee an immediate return of confidence. The market, still in shock, closely monitors the reaction of investors and the evolution of Ether prices in the face of critical technical resistance areas.
A rebound around $ 3,000, but at what cost?
Since this incident, the Ether has displayed an increase of 5.38 % in just two days, an increase which seems to be fueled by the buyouts of Bybit and a reduced offer on the exchanges. Indeed, ETH reserves owned on centralized platforms fell to 18.95 million, a unprecedented level since July 2016, which strengthens the hypothesis of a market more oriented towards accumulation than sale.
But this upward dynamic hides a zone of turbulence. According to Vugar Usi Zade, Bitget CoO, so that Ether achieves a real bullish reversal, it must exceed with conviction the area of $ 2,700 to $ 3,000. “A decisive crossing of this resistance would open the door to a continuation of the upward trend, especially if the institutional interest continues to grow,” he said.
If the ETH crosses $ 3,000, Correglass data indicate that more than $ 623 million in short positions could be liquidated, which could amplify an upward thrust. However, the threat of sudden selling pressure is very present, especially if the pirates of the Lazarus group decided to liquidate their assets to take their earnings.
Uncertainty persists as to the outcome of this situation. The market oscillates between hope and prudence, and scrutinizes Ether's ability to break its resistances while fearing a strong volatility due to speculative positions. If the immediate impact of hacking seems to be attenuated by Bybit's strategy, the real test lies in the confidence of long -term investors. Will Ethereum manage to transform this crisis into an opportunity, or will it come up against an impenetrable glass ceiling?
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