The Bybit Hack resulted in the theft of over $1.46 billion worth of Ethereum, making it one of the largest security breaches in crypto history. As the stolen assets are being liquidated, Ethereum's price dropped by 5% and key technical indicators were impacted. There is speculation about Bybit's next moves, with some suggesting a potential market buyback to compensate users, which could create significant buying pressure. However, it remains uncertain how Ethereum's price will behave in the coming days. The hack led to a decline in Ethereum's Relative Strength Index (RSI) and a weakening of bullish sentiment. The Directional Movement Index (DMI) chart indicates a decline in buying pressure and an increase in selling pressure. ETH is likely to remain in a consolidation phase, but if selling pressure continues, the price could decline further. Alternatively, if Bybit recovers the stolen assets or significant buying pressure emerges, ETH price could test resistance levels and potentially move higher.



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