Matrixport: After the Bybit theft incident, hidden buying may boost ETH's rebound

2025-02-24 16:55:39

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ChainCatcher news, the Matrixport analysis report points out that after the Bybit theft incident, hidden buying may boost ETH's rebound.

The specific viewpoint is as follows: "The market's focus is on how Bybit suffered the theft of nearly 500,000 ETH on Friday, but what is truly worth noting is its impact on the market. Bybit needs to repurchase ETH to replenish wallet funds, while the hackers must handle subsequent operations cautiously.

From past experience, stolen funds are usually not immediately sold off, meaning short-term selling pressure is likely to be limited. Meanwhile, the market has added a potential buying demand of 500,000 ETH, while it is currently reported that only about 100,000 ETH has been repurchased. The supply-demand imbalance may drive ETH prices upward. Given that the price has shown signs of stabilization, we are optimistic about the current trend."

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