After a $1.4 billion Ethereum (ETH) heist on Bybit on February 21, 2025, the change started shopping for ETH, as reported by crypto intelligence agency Arkham. Based on a latest report by Arkham Intelligence, Bybit has spent practically 100 million USDT to purchase 54,393 ETH at a median value of $2,711, which was then deposited into the change.
Nonetheless, this substantial quantity of ETH was bought by Galaxy Digital and FalconX via over-the-counter (OTC) trades.
Bybit CEO Exhibits Gratitude
Following this ETH buy, Bybit CEO Ben posted on X (previously Twitter) that that they had obtained assist from main crypto corporations, together with Antalpha, Bitget, Pionex, MEXC, Mirana, Sosovalue, Solana Basis, TON Basis, Blockchain Middle Dubai, Ghaf Capital, Bitvavo, Tether, and Galaxy.
ETH Present Worth MomentumÂ
With this substantial buy, ETH has skilled a formidable upward rally. At press time, ETH is buying and selling close to $2,780, reflecting a value surge of over 2.50% up to now 24 hours. In the meantime, its buying and selling quantity has elevated by 10% throughout the identical interval, indicating heightened participation from merchants and buyers in comparison with the day before today.
$155 Million Value ETH Influx
Regardless of ETH’s value rising, long-term holders and buyers appear to be dumping their holdings on the identical time Bybit started displaying curiosity in buying ETH. Knowledge from Coinglass reveals that exchanges have witnessed an influx of $155.50 million price of ETH, indicating a possible sell-off.
On this market situation, such inflows onto exchanges can create promoting strain and result in an extra value drop. Nonetheless, the market opposed this pattern, and ETH outperformed Bitcoin and XRP with a 2.5% upward momentum.
Ethereum (ETH) Technical Evaluation and Upcoming Ranges
Based on skilled technical evaluation, ETH is at the moment consolidating inside a slender vary between $2,560 and $2,800 and is on the verge of a breakout. Primarily based on latest value motion, if ETH breaches this consolidation and closes a each day candle above the $2,820 degree, there’s a sturdy chance it might soar by 10% to achieve $3,100 within the close to future.
Regardless of this bullish outlook, ETH remains to be buying and selling beneath the 200 Exponential Transferring Common (EMA) on the each day timeframe, indicating it stays in a downtrend.