{"id":112233,"date":"2025-02-24T11:02:00","date_gmt":"2025-02-24T07:02:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=112233"},"modified":"2025-02-24T13:44:37","modified_gmt":"2025-02-24T09:44:37","slug":"bitcoin-slips-as-investors-weigh-fed-policy-and-bybit-hack-fallout","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-slips-as-investors-weigh-fed-policy-and-bybit-hack-fallout\/02\/24\/market-updates\/","title":{"rendered":"Bitcoin Slips as Investors Weigh Fed Policy and Bybit Hack Fallout"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Bitcoin extended its decline on <strong>Monday<\/strong>, following a <strong>1% drop last week<\/strong>, as <strong>investors exercised caution amid U.S. interest rate uncertainty<\/strong> and concerns over a <strong>major security breach at Bybit<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Key Market Moves<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bitcoin dropped 0.8% to $95,610.2 (as of 6:22 GMT)<\/strong>, pressured by <strong>Fed rate policy uncertainty<\/strong> and <strong>negative sentiment from the Bybit hack<\/strong>.<\/li>\n\n\n\n<li><strong>Weak U.S. economic data<\/strong> has further fueled market caution.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Bybit Suffers $1.5 Billion Loss in Massive Crypto Heist<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>hack occurred during a transfer from an offline &#8220;cold&#8221; wallet to an online &#8220;hot&#8221; wallet<\/strong>, leading to the <strong>theft of 401,000 Ethereum<\/strong>\u2014one of the <strong>largest digital heists in history<\/strong>.<\/li>\n\n\n\n<li><strong>Bybit CEO Ben Zhou<\/strong> reassured users that the exchange remains solvent and <strong>has sufficient reserves<\/strong> to cover losses.<\/li>\n\n\n\n<li><strong>The exchange has launched an investigation<\/strong> with blockchain forensic experts and is offering a <strong>10% bounty<\/strong> for information leading to fund recovery.<\/li>\n\n\n\n<li><strong>Over 350,000 withdrawal requests<\/strong> have been processed post-incident, causing potential delays.<\/li>\n\n\n\n<li><strong>Preliminary reports suggest<\/strong> the attack may be linked to <strong>North Korean hacking group Lazarus<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Investor Caution Amid Fed Rate Uncertainty<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Weak economic data<\/strong> adds to investor concerns:\n<ul class=\"wp-block-list\">\n<li><strong>U.S. Services PMI fell<\/strong> to <strong>49.7 in February<\/strong> from <strong>52.9 in January<\/strong>, indicating <strong>a contraction<\/strong>.<\/li>\n\n\n\n<li><strong>Michigan\u2019s consumer sentiment index dropped<\/strong> to a <strong>15-month low of 64.7<\/strong>, down from <strong>71.7<\/strong> in January.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Fed maintains a hawkish stance<\/strong>, emphasizing inflation risks due to:\n<ul class=\"wp-block-list\">\n<li><strong>Sticky core inflation<\/strong><\/li>\n\n\n\n<li><strong>Tariff concerns<\/strong><\/li>\n\n\n\n<li><strong>Government spending cuts<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Market volatility remains high<\/strong>, with Bitcoin reacting to the <strong>Fed\u2019s tightening bias and macroeconomic headwinds<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p><strong>Outlook:<\/strong> Bitcoin\u2019s near-term trajectory will be shaped by further <strong>Fed policy signals, economic data, and investor confidence in crypto security measures<\/strong> following the Bybit breach.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin extended its decline on Monday, following a 1% drop last week, as investors exercised caution amid U.S. interest rate uncertainty and concerns over a major security breach at Bybit. Key Market Moves Bitcoin dropped 0.8% to $95,610.2 (as of 6:22 GMT), pressured by Fed rate policy uncertainty and negative sentiment from the Bybit hack. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":105265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,39,36],"tags":[],"class_list":["post-112233","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=112233"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112233\/revisions"}],"predecessor-version":[{"id":112235,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112233\/revisions\/112235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105265"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=112233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=112233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=112233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}