Stock’s price fell 3.07% to $95,086 on Feb. 21, 2025, as markets reacted to a $1.4 billion hack at Bybit and technical indicators signaled bearish pressure. The unexpected security breach created uncertainty, leading to increased market volatility.
Bybit Hack Triggers Market Sell-Off
The recent attack on Bybit has sent shockwaves through the financial sector, with investors scrambling to assess potential risks. The incident has led to:
- Increased Market Fear – Traders reacted to the security breach by liquidating positions, amplifying selling pressure.
- Regulatory Concerns – Authorities are now discussing tighter regulations to prevent future attacks.
- Institutional Uncertainty – Major financial players are reevaluating their stock exposure amid growing cybersecurity threats.
Technical Indicators and Key Support Levels
Stock is currently testing the critical $95,000 support level, a price point that analysts consider crucial for short-term stability. A breakdown below this level could lead to further declines, while a strong rebound could signal renewed bullish momentum.
- Relative Strength Index (RSI): Indicates oversold conditions, suggesting a possible reversal.
- Moving Averages: Stocks remain below key moving averages, signaling caution among traders.
- Volume Trends: Selling pressure remains high, but institutional interest could stabilize prices.
Market Outlook
Despite the current uncertainty, analysts believe that stock could recover if investor confidence returns and security concerns are addressed. However, a failure to hold the $95,000 support level may lead to deeper corrections.
The Bybit hack has added volatility to the stock market, causing prices to test key support levels. Investors are closely watching technical indicators and market sentiment to determine the next move. Whether stock rebounds or continues its downward trend depends on how quickly confidence is restored in the financial system.
