TechFlow news, February 24 — Matrixport's analysis report indicates that after the Bybit hack, hidden buying pressure could boost an ETH rebound.
The specific views are as follows: "While market attention has focused on how Bybit lost nearly 500,000 ETH on Friday, what truly matters is the incident’s market impact. Bybit will need to repurchase ETH to replenish wallet funds, while the hacker must carefully manage subsequent moves.
Historically, stolen funds are typically not dumped immediately, meaning short-term selling pressure may be limited. Meanwhile, the market now has a new potential demand for 500,000 ETH, yet only around 100,000 ETH have reportedly been repurchased so far. This supply-demand imbalance could drive ETH prices upward. Given signs of price stabilization, we remain optimistic about the current trend."
