Matrixport: Bybit theft incident hides buying or boosts ETH rebound
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Odaily reported that Matrixport released a chart today, stating that the market's focus is on how Bybit was hacked for nearly 500,000 ETH on Friday, but the real focus should be on its impact on the market. Bybit needs to repurchase ETH to replenish its wallet funds, while the hacker needs to be cautious about subsequent operations. Based on past experience, the stolen funds are usually not immediately sold, so the short-term selling pressure is limited. At the same time, the market has added a potential buying demand of 500,000 ETH, but according to reports, only about 100,000 ETH have been repurchased so far. The imbalance between supply and demand may drive the price of ETH upward. Given that the price has shown signs of stabilization, we are optimistic about the current trend.
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