Bybit Hack: $1.4B Stolen, Draining 8.64% of Exchange’s Reserves
Bitcoin (BTC) dropped to around $97,000 after briefly approaching $100,000 earlier in the day, while ether (ETH) fell by almost 4%, dropping below the $2,700 mark.
The sudden price drop triggered the liquidation of about $100 million in leveraged derivatives positions, mostly from long traders expecting prices to rise.
But It pulls back their gains to losses!
Very Unfortunate but it will be normal after time to pace back the market.
