Bybit Hack and ETF Outflows Shake Bitcoin Market
- Bitcoin’s price dipped following a $1.4 billion hack at crypto exchange Bybit.
- The digital coin fell to $96,750 after peaking at $99,262 on Friday morning.
- Bitcoin is down 11% from its all-time high of over $108,000 in January.
- Investors withdrew nearly $365 million from American crypto ETFs on Thursday.
- Bernstein analysts predict further Bitcoin rallies due to institutional adoption.
The recent Bybit hack and ETF outflows have impacted Bitcoin’s market performance, with the cryptocurrency experiencing a slight decline but remaining nearly flat over the past week. Despite this, analysts remain optimistic about future growth driven by institutional interest.
Source (2.6)https://decrypt.co/307119/this-week-bitcoin-bybit-hack-etfs-bleed-institutions-bullish?rand=52368
