1. Market confidence and short-term shocks
The Bybit theft incident directly caused more than 170,000 people to leave the market, with losses reaching US$572 million. Panic spread in the market, and retail investors' trust in the security of exchanges plummeted, which had a significant negative impact on the cryptocurrency circle in the short term.
2. Strengthened supervision and opportunities for industry evolution
The incident has accelerated global regulation. The US SEC has launched a crypto asset working group, and South Korea has promoted the second phase of discussion on the (Virtual Asset User Protection Act). A strict regulatory framework may raise the industry's entry threshold and force exchanges to upgrade security measures (such as multi-signature verification and on-chain tracking systems). In the long run, it may promote a more standardized market environment, but in the short term it may suppress innovation vitality.
3.Bybit’s risk has been temporarily resolved
Bybit raised 80% of the lost funds through bridge loans, processed 70% of the withdrawal requests, and promised to recover assets and take legal action. The next question is when these 1.5 billion ETH will start to circulate in the market. After being marked, they cannot be sold in a short period of time. In addition, the inflow of funds from Bybit is good for the cryptocurrency circle in both the short and long term! !
As the market continues to change, we must pay close attention to market signals and seize new opportunities to enter the market. Like + leave a message, and we will help you cross the bull market and stand firm in the market to seize this round of great opportunities. Let's reach a consensus together!
