The cryptocurrency market: hacking Bybit and a new week of challenges

The capitalization of the cryptocurrency market today amounted to $3.269 trillion, having decreased by $51 billion in a day. The share of bitcoin reached 58.1%, Ethereum – 10.10%.  

Over the past week, bitcoin has been trading in the range of $94,000-$100,000, ending the period with a slight decrease of 0.15% to $96,248. The most high-profile event was the hacking of the Bybit exchange, as a result of which hackers stole assets in ETH worth $ 1.4 billion. The incident triggered a short-term price correction on Friday after reaching a weekly high of $99.475.  

The first half of the week was marked by a decline, with a low of $93,388 being tested. However, positive geopolitical news contributed to the recovery, and on Thursday bitcoin rose to $99,475. Friday's pullback was mitigated by Bybit's prompt action and partner support.  

According to BitRiver, bitcoin remains consolidating. The key resistance is at $99,400, and for the resumption of growth, it will be important to overcome $ 100,000 and consolidate above $102,500. Support is identified in the $93,500-$94,000 zone, the breakdown of which may lead to a decline to $90,000.