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Crypto industry withstands $6.5 billion hack, Michael van de Poppe notes

Crypto industry withstands $6.5 billion hack, Michael van de Poppe notes
Crypto rebounds after major Binance hack

The cryptocurrency industry endured a $6.5 billion hack on Binance, which was described as the largest ever attack affecting the market. Bitcoin fell 1.50% for the day, while most altcoins rose 5–15% against Bitcoin.

Michael van de Poppe said this performance is a strong sign for the markets, noting the industry's resilience despite the significant security incident.

Michael van de Poppe has previously connected price declines in bitcoin and altcoins to volatility in the Korea market. In a separate analysis, he warned that bitcoin could move below $75,000 if another low occurs after a recent sweep in the market. His recent comments follow these observations of both external and price-driven pressures on crypto.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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