Bybit’s Ethereum Reserves Surpass 200K ETH After Hack: Signs of Market Recovery and Cautious Sentiment
The post Bybit’s Ethereum Reserves Surpass 200K ETH After Hack: Signs of Market Recovery and Cautious Sentiment appeared on BitcoinEthereumNews.com.
Bybit’s Ethereum reserves have witnessed a remarkable rebound past 200,000 ETH following a significant hack, suggesting a potential recovery within the market. Amidst recovery signs, market sentiment remains mixed as traders adjust to new developments post-hack, highlighting an ongoing phase of uncertainty. “The rebound suggested that Bybit actively replenished its ETH holdings to meet liquidity demands and restore market confidence,” a source from COINOTAG noted. This article explores Bybit’s recovery in Ethereum reserves post-hack and the implications for market sentiment and future price movements of ETH. Bybit Replenishes ETH Holdings: A Sign of Strength? A detailed examination of the Ethereum Exchange Reserve chart for Bybit indicates a sharp decline in reserves following the hack on February 21, 2025. Before the event, Bybit held a substantial 443,691 ETH. Within just an hour post-hack, reserves plummeted to 39,692 ETH, showcasing immediate market reactions. As of February 23, 2025, Bybit’s Ethereum reserves had climbed back above 200,000 ETH, signaling a steady yet gradual recovery in market confidence. Source: CryptoQuant This rebounding trend indicates that Bybit is not only replenishing its ETH reserves to satisfy liquidity needs but also striving to restore trader confidence in the platform. The recovery of these reserves is often correlated with past instances where exchange rebounds led to subsequent price stabilization in the market. Capital Flow Shifts: Is Confidence Returning? Further analysis of Ethereum’s netflow data suggests signs of market stabilization. On February 21, 2025, Bybit’s netflow fell to -6.6K ETH, reflecting widespread panic selling and withdrawals triggered by the hack. On February 23, the netflow showed signs of recovery, marked by a steady increase in inflows that countered previous outflows. Source: CryptoQuant This positive shift in netflows resonates with the earlier recovery of exchange reserves, underscoring efforts by Bybit to stabilize ETH levels and enhance market liquidity. Historically,…
Filed under: News - @ February 25, 2025 12:19 am