The cryptocurrency market experienced sharp movements in the last few hours, with the price of Bitcoin briefly exceeding US$ 99,000 before suffering a sudden drop. In parallel, Ethereum fell by 4.3%, settling around US$ 2,630, with a weekly decrease of 4.18%. Meanwhile, BNB, Binance's cryptocurrency, retreated by 3.12%, reaching US$ 635 and recording a 5% drop for the week.
The decline in the value of cryptocurrencies occurred following the news of a hack on Bybit, one of the major players in the market, where hackers managed to steal around US$ 1.4 billion in Ethereum. This incident caused shock in the crypto community and directly affected the price of Bitcoin, which dropped from US$ 98,500 to US$ 95,600 within minutes, impacting investors who were expecting a recovery before March.
The hack on Bybit adds to a series of setbacks for the cryptocurrency industry so far in February, including the $LIBRA scandal that involved President Javier Milei and caused losses of over US$ 100 million to investors. In addition, Bitcoin has felt the pressure of high inflation rates in the United States during the month, a factor that could result in bullish adjustments to the Federal Reserve's (FED) rates and trigger capital movements towards traditional financial assets.
With a 2.19% drop in the last 24 hours, the price of Bitcoin stood around US$ 95,691 at the close of Friday, reflecting a moment of uncertainty in the crypto market due to a series of adverse events that have shaken investor confidence.
