Matrixport: Bybit theft incident hides buying or boosts ETH rebound

Odaily Planet Daily News Matrixport released today's chart saying that the market's focus is on how Bybit suffered nearly 500,000 ETH theft on Friday, but what is really worth paying attention to is its impact on the market. Bybit needs to buy back ETH to replenish wallet funds, and hackers need to be cautious in subsequent operations. From past experience, stolen funds are usually not sold immediately, that is, short-term selling pressure may be limited. At the same time, the market has added potential buying demand for 500,000 ETH, while it is reported that only about 100,000 ETH has been repurchased. The imbalance between supply and demand may drive ETH prices up. Given that prices have shown signs of stabilization, we are optimistic about the current trend.