This may be a genuine bottom signal.
Binance has suffered the largest crypto theft in the history of the industry.
After an incident this serious,
from the time of the incident to the lowest point, the price retraced $BTC (7w7)
The drop was about 5.4%, not far off the retracement when Bybit was hacked.
And the amount involved in this Binance incident was more than four times that of the Bybit hack back then.
The impact has been much smaller than expected.
The current price has already recovered nearly half of its decline (the latest news is that half of the stolen funds have also been frozen).
I think this is a signal well worth viewing optimistically.
Binance has suffered the largest crypto theft in the history of the industry.
After an incident this serious,
from the time of the incident to the lowest point, the price retraced $BTC (7w7)
The drop was about 5.4%, not far off the retracement when Bybit was hacked.
And the amount involved in this Binance incident was more than four times that of the Bybit hack back then.
The impact has been much smaller than expected.
The current price has already recovered nearly half of its decline (the latest news is that half of the stolen funds have also been frozen).
I think this is a signal well worth viewing optimistically.
