Ethereum is testing the critical $2,000 support level after a significant 13% drop in a week, with whale selling pressure evident as a major holder sold 40,000 ETH. The weekly RSI has hit a multi-year low, raising concerns about further declines, while on-chain data shows increased sell pressure with 60,000 ETH moved to exchanges. Despite the bearish indicators, some analysts suggest that the current market conditions could present opportunities for long-term investors.
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0 posts last weekBybit Repays Bitget Loan After Major Hack Recovery Efforts
Bybit has swiftly repaid a 40,000 ETH loan from Bitget, following a $1.4 billion hack attributed to North Korea’s Lazarus Group. The repayment, confirmed by Bitget’s CEO, was made within three days and was part of Bybit’s efforts to restore investor trust and ensure customer withdrawals after the attack. Despite the hack, Bybit has managed to recover nearly 88% of the stolen funds and maintains that its reserves exceed liabilities, ensuring user funds are fully backed.
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