#hack

🚨 BREAKING: $27M in $SHIB , $DOGE , $SOL Stolen in Major Exchange Hack 🚨

Bitcoin takes a hit, dropping 4.5% from its all-time high to $117,250 as traders lock in profits. 📉 Exchange inflows spiked with 14,000 BTC, signaling profit-taking after the recent rally, per CryptoQuant’s Julio Moreno.

Sticky inflation at 2.7% (June CPI) dims hopes for Fed rate cuts, adding pressure on risk assets like crypto and the S&P 500. 🏦 Meanwhile, Fed Chair Powell’s potential replacement is stirring political heat, with Treasury Sec. Bessent confirming a formal succession process is underway. Powell’s term ends May 2026.

Despite the dip, Moreno remains optimistic: “I don’t think that was the top.” A dovish Fed chair could boost crypto with rate cuts. Short-term holders are at 10% profit, nearing Santiment’s “danger zone” (10-20%), which often precedes corrections.