Bitcoin Price Resilience Post-Hack
Despite the largest crypto hack in history, BTC is holding above $77k with analysts noting the Coinbase Premium is at a 4-year low — a historically bullish contrarian signal last seen at the FTX bottom in November 2022.
What we know
An account on X noted the sell-off was broadly correlated with Nasdaq rather than crypto-specific, with 'very modest excess selling pressure' post-hack. Another account on X called it 'pretty impressive' that BTC held above $77k with oil rising and Nasdaq futures off 2%. The Coinbase Premium hitting a 4-year low (matching Nov 2022 FTX lows) is being read as a contrarian bullish signal. Another account on X is targeting the 200-day MA cloud ($73.1k–$76.4k) as his stacking zone if downside continues. JC Parets questioned what the trade is given crypto's surprising resilience.
How the story developed
Despite the largest crypto hack in history, BTC is holding above $77k with analysts noting the Coinbase Premium is at a 4-year low — a historically bullish contrarian signal last seen at the FTX bottom in November 2022.
Despite the largest hack in crypto history, BTC dropped only ~1.5% and the altcoin firesale was absorbed with surprising calm, prompting multiple analysts to call this a sentiment bottom.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.