Bitcoin, Ethereum, XRP, Dogecoin See Friday Blues After Massive $1.4 Billion Bybit Hack
Cryptocurrency markets are trading lower on Friday after a $1.4 billion hack on Bybit dragged down the market. CryptocurrencyPrice Gains +/-Bitcoin BTC/USD$95,385.38-3.1%Ethereum ETH/USD$2,634.96-4.3%Solana SOL/USD$168.78-3.5%XRP XRP/USD$2.52-6.9%Dogecoin DOGE/USD$0.2400-5.6%Shiba Inu SHIB/USD$0.00001494-4%Notable Statistics: IntoTheBlock data shows large transaction volume increasing by 12.3% and daily active addresses growing by 4%. Transactions greater than $100,000 are up from 9,587 to 9,988 in a single day. Exchanges netflows are up by 105.3%. Coinglass data reports 188,950 traders were liquidated in the past 24 hours for $551.47 million. Notable Developments: Bybit Founder Confirms $1.4 Billion Ethereum Hack, Blames ‘Masked’ Transaction Coinbase CEO Brian Armstrong Says SEC Has Agreed To End ‘Bogus’ Enforcement Case Without Penalties Coinbase Shares Rise As SEC Moves To Drop Lawsuit: What’s Going On? Michael Saylor: ‘Bitcoin Is Economic Armor’, Calls On US To Accumulate BTC New FBI Director Kash Patel Holds Over $100,000 In Bitcoin ETFs, Has Significant Exposure To BTC Miner Core Scientific Top Gainers: CryptocurrencyPrice Gains +/-Story IP/USD $4.51+17.8%Jito JTO/USD $3.04+11.7%Bitget Token BGB/USD $4.67+3%Trader Notes: More Crypto Online noted that Bitcoin has confirmed a local top, aligning with broader market trends. The price failed to sustain above the Feb. 14 high. For a bullish continuation, it should hold above $94,645 in this potential wave 2. The key invalidation level is $93,450. Crypto trader CJ explained Bitcoin has tagged last week’s high and low. It provided clean trades on both sides of the range. The trader awaits to see if mid-range demand holds. Ideally, BTC ranges through the weekend. $BTCPrevious week high and low tagged. Both sides of the range produced a very clean trade. Let's see if the mid-range demand holds or not. Ideally just range for the weekend.Notable strength on a couple alts here e.g. ENA🍿 pic.twitter.com/d8TtHjecRz— CJ (@CJ900X) February 21, 2025 Crypto trader Jelle reaffirmed his expectations and predicts that market looks good for a strong end to the month. Read Next: Bitcoin Reserve With 1 Million BTC Could Offset $21 Trillion National Debt By 2049, Expert Says Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.