Ethereum

<h2 id="key-points">Key Points</h2><ul><li>After the 21st February 2025 hack, Bybit’s Ethereum reserves have shown signs of recovery.</li><li>Ethereum Netflows, Funding Rates, and CME Futures Open Interest provide insights into post-hack market sentiment.</li></ul><p>After the hack on the 21st February 2025, <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> reserves on Bybit have started to recover.</p><p>By the 23rd of February 2025, Bybit’s Ethereum reserves rose above 200,000 ETH, bouncing back from a significant drop.</p><h2 id="ethereum-reserves-rebound-on-bybit">Ethereum Reserves Rebound on Bybit</h2><p>Before the hack, Bybit had 443,691 ETH. One hour after the event, reserves dropped to 39,692 ETH, showing immediate outflows.</p><p>However, by the 23rd of February, reserves had risen above 200,000 ETH, indicating a steady recovery.</p><p>This recovery suggests that Bybit has been actively replenishing its Ethereum holdings to meet liquidity demands and restore market confidence.</p><h2 id="market-sentiment-post-hack">Market Sentiment Post-Hack</h2><p>The Ethereum Netflow data further supports the idea of market stabilization. On the 21st of February 2025, Bybit’s Netflow chart fell to -6.6K ETH, showing mass panic selling and withdrawals after the hack.</p><p>However, by the 23rd of February, the Netflow stabilized, with inflows increasing to offset previous outflows.</p><p>This rebound mirrors the exchange reserve recovery, suggesting that Bybit is actively working to restore Ethereum levels and maintain liquidity.</p><p>The Funding Rate of Ethereum signaled increased selling pressure, as it turned negative after the hack.</p><p>This shift suggests fear-driven trading behavior, with sellers aggressively shorting Ethereum in response to the uncertainty.</p><p>The CME Ethereum Futures OI chart provides insights into institutional sentiment. OI peaked at $3.26B on the 24th of February 2025, indicating rising speculative activity as Ethereum prices hovered around $2,819.69.</p><p>This surge suggests that institutional traders are strategically positioning themselves, potentially hedging against further downside risks.</p><p>While Bybit’s Ethereum reserves and netflows have recovered, institutional traders remain cautious, balancing recovery optimism with volatility risks.</p>

Ethereum Reserves on Bybit Surge Past 200K: Is Market Stability on the Horizon?

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