$ETH Today, Ethereum (ETH) experienced a significant price drop due to a massive hack on the Bybit crypto exchange, where over $1.46 billion in ETH was stolen.

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Impact of the Bybit Hack:

ETH Price Drops: The incident triggered a 2.51% drop in Ethereum prices, with the current value being around Rp43,861,108.23.

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Negative Market Sentiment: The hack caused panic among investors, resulting in sell-offs and decreased liquidity in the crypto market.

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Ethereum ETF Outflows: In addition, there was a net outflow of $8.9 million from the US spot Ethereum ETF, indicating a decline in institutional interest in ETH.

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Conclusion: The Bybit hack and outflows from Ethereum ETFs have put negative pressure on ETH prices and market sentiment today. Investors are advised to monitor further developments and exercise caution in making investment decisions.