Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bitcoin Price Analysis: BTC Settles Around $96,000 After Bybit Shock

Bitcoin (BTC) has steadied itself between $96,000 and $96,500 following a substantial decline after Bybit, one of the most prominent cryptocurrency exchanges, was hacked for a staggering $1.4 billion. The flagship cryptocurrency has registered a marginal increase over the past 24 hours and is trading at $96,390. BTC has been range-bound for weeks. However, spot Bitcoin ETFs have continued to attract inflows. ETFs have attracted inflows of $4.3 billion in Q1 2025, compared to $4.8 billion in Q1 2024. Is BTC’s Dip A Chance For Retail Investors? Bitcoin (BTC) has registered a sharp correction since hitting its all-time high on January 20. However, the flagship cryptocurrency could not sustain momentum, ultimately dropping below $100,000 as it tested key support levels. BTC is currently trading 12% lower than its all-time high. BTC’s drop has retail traders wondering if they should buy the dip or wait for a deeper correction. BTC has entered a consolidation phase after its impressive post-election rally. Analysts believe the current price action indicates a pause before the next leg of the bull rally. Edu Patel, Founder and CEO of Mudrex, stated, “While macroeconomic data and rising tariffs have caused short-term volatility, promising new developments in regulation and adoption, such as the SEC’s crypto task force and new ETFs awaiting approval, signal there could be a lot of steam left in this bull run.” According to Patel, retail investors must take advantage of this current consolidation phase and buy the dip. “With Bitcoin holding strong at key support levels, market pullbacks offer opportunities for dollar-cost averaging.” However, not everyone is convinced this is the right time to enter the market. According to Shivam Thakral, CEO of BuyUcoin, investors must conduct their research and assess their risk tolerance before making any moves in the market. “The current market conditions are marked by volatility and driven by macroeconomic factors and regulatory uncertainties. While some may view this dip as a buying opportunity, investors must conduct thorough research and assess their risk tolerance before making any decisions.” Amit Malik, President of JAPA (Japan, Asia Pacific, and Australia) at Wadzpay, warned retail investors against making impulsive decisions. “Historically, buying the dip has proven profitable for fundamentally strong cryptos like Bitcoin and Ethereum, which tend to rebound after corrections. However, prices could fall further due to regulatory changes or macroeconomic events.” Can A Strategic Bitcoin Reserve Pay Off US Debt By 2049? VanEck has released a tool that assesses the potential impact of a Strategic Bitcoin Reserve under specific conditions. The tool allows the government to set the number of Bitcoins purchased annually, the average price at which they are being bought, and the average compound growth rate of the BTC price and US debt. The tool is based on VanEck research outlining how soon the debt could be offset by the reserve at the specified parameters. The research assumes the Bitcoin Act will be adopted this year. The research assumes the US Treasury will collect a million Bitcoins in five years and hold them for 20 years, with the assets only being spent to cover the national debt. VanEck’s research concludes the US will amass 1 million BTC by 2049, with their total value amounting to $21 trillion, which would offset around 18% of the national debt, which is expected to reach $116 trillion by 2029. Bitcoin (BTC) Price Analysis Bitcoin (BTC) could be approaching a decisive moment, with a potential breakdown of key support levels after weakening buying pressure. According to one analysis, BTC’s support zone at $93,000 has been tested multiple times since BTC began trading in its consolidation range. The analysis states that multiple retests could have weakened the support zone, and buyers could be overwhelmed. The latest retest of BTC’s support level occurred on February 18, when BTC dropped to an intraday low of $93,430 before recovering. With buying pressure fading, the likelihood of a drop below this level has increased. A break below this level could lead to a deeper correction and lead BTC to drop below $80,000. BTC’s next significant level of support sits at $72,000. However, BTC has not shifted into a fully bearish mode, with current price action suggesting indecision. This means it could resolve either way. If BTC dips below $93,000 and then $90,000, it could lead to a deeper correction. On the other hand, if buyers gain momentum, BTC could push above $100,000. However, BTC is struggling to build momentum, with sellers controlling the ongoing session. BTC needs significant buying and selling pressure to break out of range. However, there is no catalyst to dictate price action, with the fallout from the Bybit hack largely contained. BTC started the week in the red after dropping 1.51% on Sunday. Sellers retained control on Monday, with the price falling below $96,000 to settle at $95,767. Selling pressure intensified on Tuesday as BTC plunged to an intraday low of $93,430. However, it recovered from this level to reclaim $95,000 and settle at $95,643, ultimately registering a marginal drop. Sentiment changed on Wednesday as buyers returned to the market, and BTC rose nearly 1% to reclaim $96,000 and settle at $96,386. Bullish sentiment intensified on Thursday as BTC registered an increase of almost 2% and settled at $98,251, with analysts expecting a move towards $100,000. Source: TradingView That expectation changed on Friday following the Bybit hack that sent shockwaves in the market, with prices tanking. As a result, BTC faced significant volatility and fell to an intraday low of $94,829 before settling at $96,184, a drop of just over 2%. Saturday saw a marginal recovery as BTC rose to $96,478. However, the price fell back during the current session, down 0.53%, and trading at $95,659. If buyers cannot retake control, the MACD, currently bullish, could flip to bearish. Meanwhile, the RSI is just below the neutral zone, indicating a bearish bias. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. CoinTurk News

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Bybit’s Record $1.5B Hack & How Best Wallet Token Is Redefining Crypto Security

The famous crypto firm and exchange, Bybit, has been hit by possibly the biggest crypto theft in history. The Dubai-based company said that hackers managed to steal $1.5B worth of digital currency. The attack, which was apparently carried out by North Korea’s Lazarus Group, was a highly sophisticated one. Perpetrators were able to intercept a transaction taking place from the exchange’s cold wallet to the warm one. They manipulated the transaction’s signing interface and quickly diverted 401,000 $ETH to an unidentified address. Ironically, the breach affected Bybit’s cold wallet, which was designed to be extra secure. Quite naturally, a cybercrime of this magnitude caused a stir in the larger crypto market. Ethereum fell by nearly 7%, whereas Bitcoin fell by 3%. Both the cryptos have, however, recovered at the time of writing. Bybit CEO Offers Assurance As news of the Bybit hack surfaced, customers flocked to withdraw their funds from the platform. The company is reportedly facing a ‘bank run’ worth $4B. Ben Zhou, the CEO of Bybit, took to X to assure users about the firm’s capability to let users withdraw funds. 12 hr from the worst hack in history. ALL withdraws have been processed. Our withdraw system is now fully back to normal pace, you can withdraw any amount and experience no delays. — Ben Zhou (@benbybit) February 22, 2025 Even though Bybit has promised users that their funds are safe and that the company is fully capable of refunding anyone affected by the hack, it doesn’t wash away its culpability, let alone the fear this has instilled in everyday crypto users like you and me. Increasing Cybersecurity Risks in Crypto According to a report from Chainalysis , a total of $2.2B was stolen from crypto platforms in 2024. This makes it the fifth year in the past decade that saw crypto losses exceed the $1B mark. It also tells us just how astronomically large Bybit’s $1.5B figure is. Not only is the amount huge, but this is Bybit we’re talking about. Cybercriminals being able to access a crypto exchange with over 60M users and $36B in daily trading volume raises serious questions about the industry’s security benchmarks. Moreover – and seasoned crypto players would know this – cybersecurity in crypto has been a long-drawn issue. For instance, $350M was stolen from crypto exchange Mt Gox in 2014, $611M from Poly Network in 2021, and $570M from Binance in 2022. Times like these remind us that any amount of innovation in DeFi or AI would be of little use if the foundation of privacy isn’t kept intact. Enter Best Wallet Token ($BEST) . Best Wallet Redefines Crypto Security Best Wallet is a non-custodial crypto wallet , meaning you get full control over your secret passkey. This eliminates the privacy scares that could’ve been possible if you had stored your funds in centralized exchanges like Bybit. Simply put, no one has access to your crypto but you. It’s also the first crypto wallet to use Fireblock’s MPC-CMP wallet technology, which involves advanced cryptographic techniques. Combined with the option to enable 2FA or use your biometrics for more seamless security, Best Wallet makes it nearly impossible for a malicious third party to gain access to your funds. Best Wallet also provides third-party crypto insurance against hacking and phishing attacks. So, in the unfortunate scenario your funds are permanently lost in a cyberattack, Best Wallet will see to it that you’re made whole. In addition to being the most secure crypto wallet out there, Best Wallet has also got other tricks up its sleeves. For instance, it allows you to directly buy top meme coins that are in presale. By getting in when the token is at its cheapest, you stand to make enormous yields. Best Wallet Token ($BEST) – The Best Altcoin to Buy In 2025 With Best Wallet allowing users to reclaim their privacy, its native cryptocurrency, $BEST , finds itself in a pole position to benefit from the wallet’s growth. Best Wallet, for instance, aims to capture 40% of the non-custodial crypto wallet market by 2026. Going by its continually inflating user base (currently at 500K+), this looks easily achievable. Also, Best Wallet Token holders will unlock special perks within the Best Wallet ecosystem. They’ll be able to carry out transactions at lower rates, for instance. What’s more, they’ll also get higher staking rewards and priority access to the best crypto presales . The $BEST presale , on the back of Best Wallet’s revolutionary security settings, is progressing at the rate of knots. It has so far raised a staggering $10M. You can get in now for just $0.0241 per token. But hurry up because prices increase in the next few hours. As always, we urge our readers to do their own research before investing their hard-earned money in crypto. The market can be pretty volatile, after all. Also, none of the above is a substitute for financial advice from a qualified professional. CoinTurk News