Bybit Hacked, $1.5 Billion Losses Prompt Market Sell-off
- Hack Incident: Bybit exchange was hacked, resulting in losses of $1.4 to $1.5 billion from Ethereum wallets, with the market losing $325 billion since February 21, highlighting the cryptocurrency market's vulnerability.
- User Loss Assurance: CEO Ben Zhou pledged to cover all user losses to mitigate the impact of the incident, aiming to restore user confidence and prevent a repeat of the FTX collapse.
- Severe Market Reaction: The incident triggered a widespread sell-off in cryptocurrencies, with Bitcoin dropping below $90,000 and Ethereum being hit hardest, severely undermining investor confidence.
- Future Regulatory Trends: This hack may lead to increased scrutiny on exchange security protocols and potential regulatory tightening, reflecting the ongoing cybersecurity threats faced by the crypto industry.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0774 | 0.0851 | 0.0939 | 0.102 | 0.11 |
| Fibonacci | 0.0686 | 0.0749 | 0.0788 | 0.0851 | 0.0915 | 0.0954 | 0.102 |
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