Ethereum Hack Triggered Price Crash—Will ETH Rise or Fall Next?

Will Ethereum Rise Again? How the Hack Affects ETH Prediction Today

Ethereum Hacked Caused ETH Price Crash Today: Bitget Steps In with $106M ETH Loan

As ethereum price usd live data showed a sharp drop, another big player, Bitget, stepped in. Bitget transferred 40,000 ETH (worth $106 million) to Bybit to help process customer withdrawals.

But instead of calming nerves, the move triggered an even sharper ethereum price crash today. Prices dipped from $2,850 to $2,630 within an hour, raising questions like, “Will ETH fall further?” and “Will Ethereum rise again?”

Reasons Behind Ethereum Price Crash Today:

Bybit Hacked News—$1.5 Billion Ethereum Stolen

In shocking ethereum hack news, Bybit confirmed a $1.5 billion theft where hackers stole 70% of Bybit Ethereum holdings. The Bybit hacked news spread quickly, causing widespread panic in the crypto market. Even a recent even of Bybit scandal, Ex-WeChain Manager Jailed has everyone talking about it.

Bybit’s CEO, Ben Zhou, revealed that hackers used a sophisticated attack targeting their multisig cold wallet. By exploiting a UI vulnerability, they tricked Bybit into signing over control of its ETH wallet, resulting in a massive ethereum stolen event.

This has led to concerns about why Ethereum is going down, as traders fear the hackers might dump the stolen ETH on the open market.

Why Ethereum is Going Down: Security Fears Shake the Market

The Bybit hack has intensified fears about exchange security, leading to an ethereum price volatility spike. Investors are now moving their ETH to self-custody wallets or using decentralized exchanges (DEXs), causing liquidity issues for centralized exchanges like Bybit.

This shift could lead to more market instability, making traders question will ETH go up today or if more selling pressure is on the horizon.

Ethereum North Korea Connection: Lazarus Group Behind the Hack

In another twist, investigations confirmed that North Korea's Lazarus Group was behind the ethereum stolen from Bybit. This adds a geopolitical dimension to the ethereum hack, as North Korea recently announced a $1.5 billion strategic Ethereum reserve.

The ethereum north Korea link has raised concerns about how state-sponsored actors could impact ETH prices and long-term market trust.

Ethereum Price USD Live: Current Stats and Market Sentiment

• Ethereum Price USD Live: ~$2,669.75

• 24-Hour Price Drop: -2.75%

• Trading Volume (24h): $32.79 billion (+127.62%)

The ethereum price crash today has sparked a surge in trading volume, as panic sellers offload ETH while whales look to buy the dip. However, uncertainty looms large, with many asking, “Will ETH go up today?” or “Will ETH fall further?”

Ethereum Price Prediction: Will Ethereum Rise or Fall?

Given the current chaos, here’s an ETH prediction today for the short and long term:

Bullish Scenario: Will Ethereum Rise?

• If ETH can recover above $4,000, it could spark a major rally.

• Ethereum price prediction: $5,500 - $6,000 in the next 5-7 months

Neutral Scenario: Ethereum Price Volatility Continues

• ETH could trade sideways around $3,200 as the market processes recent events.

ETH Prediction Today: Crisis or Buying Opportunity?

The ethereum price volatility has everyone on edge, but for seasoned traders, this could be a golden opportunity. If Ethereum manages to hold its support levels, a strong recovery could be on the horizon.

However, if panic selling continues and the hackers offload their stolen stash, ETH could see another sharp dip. For now, ethereum price usd live data suggests we’re in for more turbulence.

So, will Ethereum rise and break out, or will ETH fall deeper into the red? Stay tuned.