Bybit Hack? Ethereum Whales Are Buying More Than Ever

- Ethereum around $2778, Investor Sentiment Recovers Post-Bybit Hack Restoration - Major Holder Purchase Trends, Price Rise Expectations Detected [Unblock Media] According to Ethereum price trend analysis, as of February 24, Ethereum (ETH) is trading around $2778. Despite recent news of a hacking incident at Bybit exchange, swift recovery efforts and asset reinforcement have gradually restored investor sentiment. With Bybit confirming its ability to sufficiently protect customer assets, concerns over the hack have diminished, positively impacting Ethereum prices, according to many assessments. Cryptocurrency experts like Samson Mow and Arthur Hayes have suggested rolling back the Ethereum chain to before the hack, in order to cancel the hack and recover the stolen funds. However, unlike the DAO exploit case, most opinions suggest that rolling back is practically impossible because Bybit's funds were moved on-chain immediately. Ethereum core developer Tim Beiko explained that, unlike the DAO incident which had built-in safety mechanisms, Bybit's funds were quickly dispersed, making a rollback unrealistic. As a result, the likelihood of a rollback has been concluded to be very slim, significantly reducing market concerns on this matter. Observing the purchase trends of major Ethereum holders, it can be noted that large holders have continuously bought ETH even after the hack. Quinton, co-founder of WeRate, also positively evaluated these movements, analyzing that large holders 'aggressively' buying Ethereum could act as a factor for market rise. In fact, when investors managing large funds engage in concentrated buying, the circulating supply tends to reduce, raising expectations for price increases. Summarizing market opinions on the outlook for Ethereum, the prevailing view is that there is a possibility of seeking further upward movement, with the current support in the $2800-$2900 range. If this range is broken through, the price could gain more upward momentum, but conversely, if resistance remains strong and prices fall again, a retracement to the $2700 level cannot be ruled out. Although the Relative Strength Index (RSI) shows improvement near the neutral line, short-term volatility remains.