$ETH Recently, the price of Bitcoin has been influenced by several major events:

• Bybit exchange hack: A major security breach at the Dubai-based Bybit exchange resulted in the theft of $1.5 billion worth of Ethereum. This incident has contributed to increased market volatility and a drop in the price of Bitcoin. 

• Regulatory developments: The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Coinbase, signaling a potential shift towards more lenient cryptocurrency regulations under the current administration. This move could encourage greater institutional participation in the cryptocurrency market. 

• Market predictions: Industry experts have mixed forecasts for Bitcoin’s trajectory. Anthony Scaramucci, head of a major cryptocurrency ETF, predicts that Bitcoin could hit $200,000 by 2025, citing increased institutional adoption and favorable regulatory developments.