North Korea’s Lazarus Group has reportedly laundered all the 499,000 ETH, roughly $1.39 billion, stolen from the Bybit hack in just 10 days. According to a Mar. 4 post on X by on-chain analyst EmberCN, who has been tracking the stolen funds, much of the Ethereum ( ETH ) was funneled through THORChain ( RUNE ), a decentralized cross-chain liquidity protocol, and converted into Bitcoin ( BTC ). 黑客已经把从 Bybit 盗取的 49.9 万枚 ETH ($13.9 亿) 全部清洗完了，整个过程历时 10 天。 ETH 价格在这个过程中下跌了 23% (从 $2,780 跌到现在的 $2,130)。 而黑客洗钱使用的主要通道 THORChain 也因黑客洗钱获得了 $59 亿的交易量跟 $550 万的手续费收入。 本文由 #Bitget ｜ @Bitget_zh 赞助 https://t.co/osoKNzFhkG pic.twitter.com/QUWuMmV6zH — 余烬 (@EmberCN) March 4, 2025 THORChain has handled $605 million in transactions in the last 24 hours alone. The platform has received criticism for its involvement in facilitating illegal transactions, after recording $5.9 billion in volume and collecting $5.5 million in fees during the laundering process. One critic on X referred to THORChain’s response as “negligence at best, greed at worst.” While other protocols acted accordingly to stop the movement of stolen funds, THORChain validators did not take any meaningful action. Pluto, a core contributor, resigned in protest after a governance proposal to halt ETH transactions was rejected. You might also like: Binance pushes for stricter security regulations following $1.4b Bybit hack Meanwhile, Bybit CEO Ben Zhou has since provided an update on the movement of the stolen assets. In a Mar. 4 post on X, he revealed that 77% of the stolen funds remain traceable, while 20% have gone dark, and 3% have been frozen. 3.4.25 Executive Summary on Hacked Funds: Total hacked funds of USD 1.4bn around 500k ETH, 77% are still traceable, 20% has gone dark, 3% have been frozen. Breakdown: – 83% (417,348 ETH, ~$1B) have been converted into BTC with 6,954 wallets (Average 1.71 btc each) . This and… — Ben Zhou (@benbybit) March 4, 2025 According to Zhou, 83% of the laundered funds were converted into Bitcoin, distributed across 6,954 wallets, with 72% ($900 million) of these funds passing through THORChain. Moreover, after being transferred through ExCH, 16% of the assets became untraceable, and the OKX Web3 Proxy processed another 8% ($100 million). Bybit has since launched Lazarusbounty.com, a fund-tracking website, and it is providing bounties to exchanges that help recover the stolen assets. So far, $2.17 million in rewards have been paid to 11 bounty hunters, with Mantle, Paraswap, and ZachXBT among the top contributors. Read more: Safe Wallet responds to Bybit hack with major security improvements
Introduction Bitcoin’s journey toward $500K is capturing global attention, but seasoned investors know diversification is key. XRP remains a strong contender, but five other cryptos are gaining traction with explosive potential. Could these altcoins be the hidden gems that fuel the next wave of millionaire investors?. However, savvy investors know that the biggest gains come from early-stage opportunities. That’s why OFFICIALMAGACOIN is now on their radar, with 10,000x potential as it gains traction in its explosive presale phase. OFFICIALMAGACOIN: The Next Crypto to Watch in 2025 Still in Its Early Stages – Unlike Bitcoin, XRP, and major altcoins, OFFICIALMAGACOIN is at the ground level, giving early investors a rare opportunity for exponential gains. Exclusive Presale Access – Investors can only buy at OFFICIALMAGACOIN , making it a pre-public opportunity with high upside. Under $0.20—Just Like Early BTC & SOL – With a low entry price, it mirrors Bitcoin and Solana’s earliest days before their massive growth. Over $3M Raised & Selling Fast! – Investor demand is surging, showing strong confidence in this project. 50% Bonus Offer for Early Buyers! – Using promo code MAGA50X, investors can grab 50% more tokens before the offer disappears. THE NEXT 1000X CRYPTO – CLICK HERE TO JOIN N OW! How OFFICIALMAGACOIN Compares to Other Top Cryptos Chainlink (LINK): The leader in blockchain oracles, but doesn’t have the viral excitement of early-stage projects. Polkadot (DOT): Built for interoperability, yet struggling to maintain strong price momentum. Polygon (MATIC): A Layer-2 scaling solution, but facing increasing competition from newer blockchain projects. Cardano (ADA): A major blockchain with a strong community, but slow development progress has frustrated some investors. Why OFFICIALMAGACOIN Is the Smartest Crypto Move Right Now Unlike LINK, DOT, MATIC, and ADA, which are already established, OFFICIALMAGACOIN is a fresh opportunity with major growth potential. Early-stage investments offer the biggest returns, and getting in before exchange listings is the key to maximum profit potential. LIMITED TIME ONLY! USE PROMO CODE MAGA50X TODAY FOR A 50% EXTRA BONUS! Final Call: OFFICIALMAGACOIN Is Moving Fast—Don’t Miss Out! With $3M+ raised and a 50% bonus still available, time is running out. Secure your tokens before the presale sells out! Visit: OFFICIALMAGACOIN.IO X/Twitter: https://x.com/officialMAGAx Continue Reading: Bitcoin’s Path to $500K: Why XRP and These 5 Cryptos Are Must-Have Investments
Spot Bitcoin ETFs in the U.S. shifted back to outflows on March 3 as Bitcoin retraced gains, driven by a risk-off sentiment stemming from trade tensions and skepticism over a U.S. crypto reserve fund. According to data from SoSoValue, the 12 spot Bitcoin ETFs resumed their outflow trend on Monday, with $74.19 million exiting the funds following a previous day of net inflows totaling $94.34 million . BlackRock’s IBIT led the outflows for the third consecutive day, with $77.97 million in net redemptions, while Grayscale’s GBTC continued its outflow trend with $54.39 million withdrawn by investors. ARK and 21Shares’ ARKB bucked the trend with $58.18 million in net inflows. The remaining nine BTC ETFs saw no activity on the day. The total daily trading volume for these investment products stood at $5.99 billion on March 3, while total net inflows since their launch amounted to $36.97 billion as of press time. Meanwhile, the nine Ethereum ETFs recorded their eighth consecutive day of outflows on the same day, with $12.10 million exiting the funds. The negative flow was led by BlackRock’s ETHA, which saw investors withdraw $16.06 million. Some of these outflows were offset by $3.96 million in inflows into Bitwise’s ETHW fund. The remaining seven ETH funds remained neutral on the day. The significant outflows from these ETFs come amid a risk-off sentiment among investors, driven by U.S. President Donald Trump’s confirmation that the U.S. will impose 25% tariffs on Canada and Mexico starting March 4, eliminating hopes for a last-minute deal that could have eased trade tensions. In response, both countries have vowed to retaliate. Additionally, a 10% tariff on Chinese imports will take effect the same day. You might also like: CryptoQuant CEO says Trump turned crypto into ‘a weapon of the United States’ Further concerns stem from Trump’s announcement of plans to establish a U.S. Crypto Strategic Reserve, which would consist of a basket of crypto assets, including Bitcoin and Ethereum, as the core holdings. While the initiative aims to position the U.S. as the “Crypto Capital of the World,” it has drawn criticism from the crypto community, with many arguing that it contradicts Bitcoin’s core principle of decentralization. Some fear that a currency designed to be free from government control may now be subject to U.S. government actions. Bitcoin ( BTC ), which surged 11% to an intraday high of $94,770 on Monday, retraced 9.5% to trade at $84,011 at press time as investors adopted a risk-off stance amid escalating trade tensions and concerns over the feasibility of the strategic reserve plan. Ethereum ( ETH ) also took a hit, dropping 13.8% over the past day to $2,098 at the time of writing. Weighing in on Bitcoin’s recent volatility, Matt Mena, crypto research strategist at 21Shares, told crypto.news that the market reaction is driven by “renewed fears of inflation and economic uncertainty,” though he believes the selloff is an overreaction. According to Mena, many investors anticipated this move, and as futures markets adjust overnight, Bitcoin could find stability when trading resumes. “When the market opens [on March 4], we’ll likely see this stabilize as the futures market corrects for today’s move,” he said. While short-term price swings due to macroeconomic events like tariffs may continue, Mena believes these developments are ultimately laying the groundwork for “long-term growth and mainstream financial integration.” Read more: Trump’s cryptocurrency reserve proposal ‘lacks details’: pro
Bitcoin has recently seen a significant market correction, yet signs suggest potential buying opportunities for savvy investors looking to capitalize on future gains. Despite Bitcoin’s price fluctuation, decreasing open interest
Arthur Hayes, the CIO at Maelstrom Fund, said that he firmly believes the Bitcoin bull market cycle is still ongoing. He added that the worst bottom would be the historical high of the previous cycle, which was $70K. In his latest blog post, Hayes disclosed that he was not sure whether Bitcoin prices would drop that low (to $70K), adding that he expected Bitcoin’s fall to around $80K to provide an opportunity for another entry if this round of increase was just a ‘dead cat bounce.’ He also said that traders would cautiously buy on dips, avoid leverage, and patiently wait for the final violent fluctuations in the fiat financial markets regardless of how the market changed. According to Fidelity Investments, we were now 28 months into the current crypto bull market after Bitcoin’s price made a bear market bottom in November 2022. The investment firm noted that Bitcoin’s price was up over 400% from its November 2022 bear market lows despite the drop at the end of February. Fidelity noted that while no one was able to tell the future, it was helpful to consider that crypto bull markets historically tended to run for just under 3 years before entering a new bear market. Fidelity also claimed that we could be in the mature phase of this bull cycle if the market continued to follow this pattern, but past performance was not a guarantee of future results. However, the research director at Fidelity Digital Assets Chris Kuiper asserted that it was too late for the speculators who wanted another frenzy for this cycle. Hayes expresses unwavering belief in the ongoing Bitcoin bull market 🔥 Hot: Arthur Hayes' Latest Blog: The crypto market is still in a bull cycle, and Trump’s artificial recession will force the Fed to cut rates. Arthur Hayes believes we are still in a bull cycle, with BTC potentially retracing to $70,000 in the worst-case scenario. — Coin8 Exchange (@Coin8_Exchange) March 4, 2025 Hayes postulated that the crypto market was still in a bull market cycle. He claimed that Bitcoin was expected to break through $1 million or even higher as the global economy recovered under the leadership of the United States. Karel Mercx, investment specialist at Beleggers Belange, also agreed with Hayes’ that we were still in a bull market. Merxc said that the recent breakdown was a fake-out, but now the expected scenario is a breakout to the upside in the coming weeks or months. Hayes, however, observed that the global market might experience ‘synchronized adjustment’ if the S&P 500 index or the Nasdaq 100 index dropped 20% to 30% from their historical highs. He believes that at that time, all risk assets will be sold off together, and Bitcoin will likely fall below $80K again or even retrace to $70K. The crypto asset could witness more ‘bloodshed’ before consolidating. The crypto entrepreneur revealed on Friday morning that he was tempted to add more risk to his holdings, although he figured that Bitcoin could see one more violent wave below $80K upon further analysis of the crypto asset’s price action. He said that there would be “crickets for a while” after the violent wave, meaning that Bitcoin would consolidate and trade range-bound for some time. Hayes doubts whether Trump’s strategic Bitcoin reserve will work out as planned Hayes said he doubts Donald Trump’s administration will get around to creating a strategic Bitcoin reserve, a policy many crypto enthusiasts were pinning their hopes on. However, he added that he hoped he was wrong regarding the implementation of a Bitcoin reserve. He pointed to the limited time frame before the midterm elections, which could restrict the ability to implement substantial policy changes, as well as the fact there were many other things to allocate time and money to. Hayes pointed out that he was sure Trump wanted to finance his “America First” policies through debt, arguing that Trump had ‘so much borrowing capacity’ before he destroyed the bond market. He wondered whether Trump would borrow funds to buy more Bitcoin, give health care to the seniors who voted him in, or build more bombs so that the defense lobby likes him. “I don’t think Trump will get around to doing a bitcoin reserve.” – Arthur Hayes The former BitMEX boss said there were many different things Trump could borrow money to spend it on, adding that he did not think Trump was going to spend it on Bitcoin. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
The post Why Ethereum Price is Down Today? How Low Will ETH Price Crash? appeared first on Coinpedia Fintech News Bitcoin and other major cryptocurrencies fell on Tuesday as optimism around the proposed US Crypto Strategic Reserve faded. The drop also coincided with rising trade tensions, as President Trump confirmed that tariffs on Canada, Mexico, and China would go into effect in hours. Amidst a broader market downturn, Ether (ETH) is hitting levels not seen since November 2023, as volatility from U.S. President Trump’s trade war threat continues to impact the market. ETH has dropped 15% in the last 24 hours. Its market cap also witnessed a decline over 13% to $252.89 billion. After a brief spike above $2,500 following Trump’s crypto reserve announcement, Ethereum has now collapsed to $2,050, erasing all its weekend gains. Ether’s Lackluster Performance Ether has seen a decline over the past three months, largely due to negative investor sentiment and underperformance compared to Bitcoin. Additionally, weak institutional demand and broader macroeconomic factors like fears over the trade war, concerns about inflation, and ongoing stock market weakness have contributed to a decrease in risk appetite among investors. All of these factors together have weighed heavily on Ether’s price. Its Open interest has dropped over 10.8% to $18.8 billion, while 24-hour liquidations have surged to $209 million, according to Coinglass data. Meanwhile, Polymarket bettors are forecasting a 76% chance of ETH reaching $1,900 by the end of the month. Ether ETF Outflows Add To the Plight Additionally, Ether ETFs experienced significant outflows last week, totaling $335 million, adding to the overall bearish sentiment. BlackRock’s iShares Ethereum Trust (ETHA) was hit the hardest, with more than $164 million leaving the fund since February 24. The price of ETHA shares has also fallen sharply, dropping over 38.6% since the start of 2025 to $16.09. This indicates a complete loss of institutional interest in Ethereum, erasing all the gains it made after the US election. Worst Quarter In ETH’s History? The ETFs are now down 40% since their launch eight months ago and 49% below their highs in December 2023. “The worst part for investors is that ETH still has a long way to fall,” noted Peter Schiff. With a 36% drop in ETH’s price since the start of 2025, this could become the worst-performing Q1 in its history. Analyst Venturefounder pointed out that a drop to $1,600 would make this the worst quarter in Ethereum’s history, worse than the decline in Q1 2018 after the previous cycle’s peak. Ether’s Initial support was at $2,020, with stronger support near $2,000. A drop below $2,000 could push Ethereum toward $1,880, and further losses might take it to $1,750, with the next key support at $1,640. However, despite Ethereum’s current drop to $2,000, market analysts believe it presents a buying opportunity for investors.
The post Why Crypto Is Crashing Today: Will Crypto Summit 2025 Ignite a Bull Run? appeared first on Coinpedia Fintech News The crypto market today has been struggling through the rough winds, amidst liquidity concerns, and CME gaps. The turbulence has led to the market cap of the business sinking by 10.62% to $2.75 trillion. Investors are now hopeful of the “Crypto Summit” scheduled on March 07th, to ignite a bull run. Bitcoin Price Now Stands at $84k! Market dominance comes at a cost, and Bitcoin has taken the brunt of the larger market turmoil. After dropping to a 24-hour low of $82,467.24 from its intraday peak of 93,664.05, BTC is currently changing hands at $84,033.44. The 9% price spike, despite the $1 billion liquidations, entrusts hope of Bitcoin’s comeback in the very short term. Talking about other metrics, BTC’s market cap currently stands at $1.84 trillion, with daily volumes spiking up by 14.15% to $76.01 billion. For a sneak peek into BTC’s future price, read our Bitcoin Price Prediction 2025, 2026-2030! Altcoins Tumble Amid Strong Headwinds Ethereum has faced a steep price drop of 13.95%, with a face value of $2,101.58. And Ethereum’s direct rivals Solana and XRP have also taken heavy hits, losing 18.86% and 16.55%, respectively. Interested in decoding XRP’s future price trend? Check out our Ripple (XRP) Price Prediction 2025, 2026-2030! Top Gainers: PI: +3.49% to $1.74 XAUt: +0.94% to $2,883.68 PAXG: +0.79% to $2,888.99 Top Losers: Sonic: -24.37% to $0.544 ADA: -23.79% to $0.8114 TRUMP: -22.83% to $12.36 Subscribe to us, for timely updates on crypto news and crypto prices! FAQs How much does 1 BTC cost today? At the time of writing, 1 Bitcoin is trading at $84,033.44. Which tokens have surged the highest today? Pi, XAUt, and PAXG have recorded the highest gains today, rising by 3.49%, 0.94%, and 0.79%, respectively. How has Ethereum performed today? Ethereum price has dropped 13.95% in the past 24 hours, trading at $2,101.58.
Major US asset management firm Grayscale Investments has filed a 19b-4 application with the US Securities and Exchange Commission (SEC) to list and trade the Hedera ETF. On behalf of Grayscale, the Nasdaq Stock Exchange filed a 19b-4 filing for the Hedera ETF product. If approved, the Hedera ETF would trade on the Nasdaq exchange, like Grayscale’s other funds. Key details about the fund, such as the custodian chosen for the Hedera ETF, have not been disclosed. However, it has been reported that Coinbase, which is Grayscale’s choice for Bitcoin and Ethereum ETFs GBTC and ETHE, could be chosen as the custodian. Canary Capital led the HBAR filings last week by filing for an HBAR ETF. This is not Grayscale's first ETF application for altcoins, as it has previously applied for ETFs for Cardano (ADA), Dogecoin (DOGE), Solana (SOL), and XRP. Apart from popular altcoins, ETF applications have also been made for popular memecoins such as TRUMP, MELANIA, and BONK. According to Bloomberg analysts, while approval rates for XRP, Solana, and Litecoin ETFs remain high, the likelihood of memecoin ETFs receiving approval still remains uncertain. *This is not investment advice. Continue Reading: Grayscale Makes a New Move! ETF Application Made for a Surprise Altcoin!
President Donald Trump incited a $300 billion crypto market pump on Monday following the announcement of a US crypto reserve. The same Donald Trump has now induced a $300 billion crypto market dump as his trade tariffs come into effect on March 4. Total market capitalization has crashed almost 14% over the past 36 hours or so in a plunge to $2.82 trillion from over $3.2 trillion on Sunday evening. The move has wiped out all brief gains from the pump that followed his crypto reserve announcement on March 2. Coinglass reported that more than 311,000 traders were liquidated in the past 24 hours to the tune of just over a billion dollars. Trump Pump and Dump “Trump pumped it with a tweet. Trump dumped it with his tariffs. All his doing. Sad but true,” commented economist Alex Krüger on X. Meanwhile, trader and analyst ‘DonAlt’ said he guessed people came to the realization that Trump “is probably not gonna be able to push this through Congress overnight.” “Tomorrow, tariffs — 25% on Canada and 25% on Mexico,” Trump said during a press conference at the White House on March 3. “And that’ll start… What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs,” he added. Trump also signed an executive order on Monday raising tariffs on imports from China to 20%, up from 10%. The Trump dump has also hammered stock markets, with the S&P 500 erasing a whopping $1.5 trillion in market cap. What just happened? The Dow just went from being up +300 points at the open to falling as much as -1,100 points in hours. Between 10:00 AM and 3:30 PM ET, the S&P 500 erased a whopping $1.5 trillion in market cap. Here’s exactly what you need to know. (a thread) pic.twitter.com/nQpKOlrihB — The Kobeissi Letter (@KobeissiLetter) March 3, 2025 Bitcoin Dumps Below $83K Bitcoin dumped to an intraday low of $82,864 during early trading in Asia on Tuesday, shedding almost 12% in little over a day. Meanwhile, the BTC fear and greed index had fallen back into extreme fear. Bitcoin Fear and Greed Index is 15 — Extreme Fear Current price: $86,273 pic.twitter.com/POoRvfOjp3 — Bitcoin Fear and Greed Index (@BitcoinFear) March 4, 2025 Ethereum has been smashed again, falling lower than previously to just over $2,000, its lowest level since November 2023. Even the altcoins mentioned in Trump’s crypto reserve had lost most of their gains within 24 hours. The crypto market dump has also closed a massive $10,000 CME Bitcoin futures gap that opened over the weekend when traditional markets were closed. The post $300B Wiped Out in Trump’s Crypto Market Pump and Dump appeared first on CryptoPotato .
Bitcoin and the broader cryptocurrency market have shown strong recovery, with Bitcoin surpassing $93,000 earlier today after an increase of nearly 10% in the past 24 hours. The surge follows the announcement of a US crypto strategic reserve, which is expected to include major digital assets such as BTC, ETH, SOL, XRP, and ADA. The news has fueled optimism in the market, pushing Bitcoin back above the $90,000 level. As Bitcoin’s price movement gains momentum, analysts appear to have been closely examining the ongoing correction phase within the current bullish cycle. Related Reading: Bitcoin Reclaims Key Levels And Faces Resistance At $97K – Can It Break $100K This Week? CryptoQuant analyst Grizzly has shared insights into Bitcoin’s historical price behavior, suggesting that the asset may be repeating past patterns that preceded significant rallies. If these trends hold, BTC could be positioning itself for a major breakout in the coming months. BTC’s Historical Price Patterns and Market Outlook According to Grizzly, Bitcoin is currently in its third corrective phase within the bullish cycle that began in early 2023. This pattern has been observed using the UTXO Age Bands—a metric tracking how long BTC remains unmoved in wallets. Similar corrective phases took place in the summers of 2023 and 2024, each lasting around six months. During these periods, BTC experienced resistance before eventually breaking out into new price highs. Grizzly revealed that if this trend continues, BTC may remain in a consolidation phase for another two to three months, fluctuating between $80,000 and $100,000. A breakout beyond $100,000 could mark the end of the correction and potentially push BTC toward $130,000, as historical data suggests. The CryptoQuant analyst noted: Market participants should closely watch the structural dynamics of the premium bands, as a confirmed break above resistance could signal the next parabolic leg of Bitcoin’s bull market. Bitcoin’s Path to $100K: What Market Indicators Suggest Another CryptoQuant analyst, OnChainSchool, has provided further insights into BTC’s potential price movement beyond $100,000. The analyst highlights the MVRV Z-Score, a metric that tracks Bitcoin’s valuation in comparison to its historical fair value. According to the analyst. the current cooldown in the MVRV Z-Score indicates that Bitcoin could soon enter a rapid upward trajectory, similar to the price action observed in early 2024 when BTC surged past $72,000 to new all-time highs. However, unlike past cycles, the market appears to be moving at a faster pace, potentially influenced by the evolving political landscape in the US. Related Reading: Bitcoin Fills CME Gap Between $78,000 and $80,000 – Is A Reversal Around The Corner? With increasing attention on cryptocurrency from policymakers and institutional investors, there is a likelihood that BTC could break past its previous all-time high sooner than expected. Whether this acceleration will be sustained depends on multiple factors, including regulatory developments, macroeconomic conditions, and continued market demand for Bitcoin as a hedge asset. Featured image created with DALL-E, Chart from TradingView