Latest news with #EmberCN
Business Mayor
6 days ago
- Business
- Business Mayor
Bitcoin Short Positions Increase as Market Sentiment Shifts to Fear
Bitcoin recently broke above the $111,000 mark, setting a new all-time high. However, data across major exchanges suggests that traders are growing increasingly wary of a sustained rally. CoinGlass data indicate that over 53% of Bitcoin positions are currently short, meaning a majority of traders are betting on a price drop. By contrast, just 47.43% of active positions are long. The pattern is mirrored on Binance, where short trades make up 54.05% of open interest, compared to 45.95% for longs. This growing tilt toward shorts reflects mounting skepticism in the market, despite Bitcoin reaching new highs. The sentiment shift is reinforced by the latest move from prominent crypto whale James Wynn, who reversed his bullish stance after a multi-million dollar loss. Wynn had previously maintained an aggressively leveraged 40x long position worth around $1.25 billion but exited after Bitcoin's price dipped from $109,000 to roughly $107,107. The trader closed his long exposure at a loss of $13.39 million, with liquidation unfolding in under an hour on May 25. He has since opened a short position of 3,523 BTC—valued at approximately $377 million—at an entry price of $107,128. The new trade carries a liquidation threshold near $118,380. James Wynn Bitcoin Bet on Hyperliquid. Source: X/EmberCN Market analysts have suggested that Wynn's pivot reflects broader signs of exhaustion in the current bull cycle. According to blockchain analytics firm Alhpractal, short-term holders (STHs) have begun distributing coins. Historically, a decline in STH supply often signals that Bitcoin is approaching a local top. The firm noted that the Short-Term Holder Realized Price currently stands at $94,500, which is the last strong support before losses set in. Read More German government sells remaining Bitcoin holding - baha news In contrast, long-term holders (LTHs) remain firm, with their realized price climbing to $33,000—highlighting a widening behavioral gap. Bitcoin Short-Term Holders Distribution. Source: Alphractal Alphractal stated that while Bitcoin previously hit record highs under similar conditions in 2021, it warned that the current cycle may be nearing exhaustion. It added that several macro indicators and historical halving trends point to a possible correction after October 2025.
Express Tribune
21-02-2025
- Business
- Express Tribune
Bybit hacker moves stolen funds to multiple new addresses after $1.4 billion breach
Bybit, one of the world's top cryptocurrency exchanges, has experienced a major security breach resulting in the theft of approximately $1.4 billion in digital assets. The hack, which occurred on Friday, has seen the funds moved from the exchange's cold wallet, with reports confirming the stolen Ethereum (ETH) amounting to 514,000 ETH, valued at $1.429 billion. The hacker's address, identified as '0x47666..,' has been traced, showing that over $1 billion worth of ETH (around 400,000 ETH) has been transferred to new wallets. Blockchain monitoring firm EmberCN reported that the stolen funds were dispersed across 49 different addresses, with each receiving 10,000 ETH. ALERT: BYBIT HACKER SENDING FUNDS TO MULTIPLE NEW ADDRESSES — Arkham (@arkham) February 21, 2025 In addition, the hackers are attempting to unstake 15,000 cmETH, a process that takes 8 hours before the funds become available. Update: Apparently the hacker sent ByBit a email after the hack and this was attachment in the email — Kevin (@Kev_Capital_TA) February 21, 2025 Despite the breach, Bybit CEO Ben Zhou reassured users that the exchange remains solvent, with client assets backed on a 1:1 basis.
