As of 9:55 a.m. on the 27th, the price of Bitcoin on Upbit was 123.36 million won (US$128,000), up 0.47% from the same time the previous day.
At the same time, the overseas price on CoinMarketCap was down 3.88% from the same time the previous day to $84,642 (approximately 12.62 million yen).
The price was once pushed down to the 2,000 dollar range. The Bybit hacking incident on the 22nd continues to cause problems. Bybit, the second largest exchange in the world, was hacked and about 1
$400 million worth of crypto assets were stolen. Some analysts say Bybit's damage will exceed the hacking of Mt. Gox in 2014 and the bankruptcy of FTX in 2022.
According to data from cryptocurrency analytics firm CoinMatrix, the Bybit hack's $1.4 billion loss far exceeds the losses from the Mt. Gox hack and FTX bankruptcy.
This has led to a steady decline in the price of Bitcoin, which has led to a large outflow of funds from the U.S. Bitcoin spot ETF that has been driving Bitcoin's rise thus far.
According to Hwasaido Investor, a total of $1.138 billion was net outflowed from the US Bitcoin spot ETF on the 25th (local time). This is the sixth consecutive trading day of net outflows.
The price of Bitcoin also plummeted, leading to a large liquidation of funds in the futures market, which further exacerbated the decline.
Investor sentiment has also deteriorated significantly. According to Alternative.mi, a virtual asset data company, crypto fears
The Greed Index was down 10 points, a sharp drop from the previous day's 21 points. The Crypto Fear and Greed Index is an index that represents the demand for virtual asset investment on a scale of 0 to 100, with the closer to 0, the less likely the investment is.
It means that the state of mind is worsening to "fear." The current state is "extreme fear," hitting its lowest level since June 2022, just after the "Terra incident."
2025/02/27 10:52 KST
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