Bybit Insights: Ethereum’s Bullish Signals Point to Potential Surge

Despite Ethereum (ETH) being one of the biggest disappointments in the current market cycle, recent developments suggest a potential turnaround. Key bullish signals, including whale accumulation and shifting market sentiment, indicate that ETH could be poised for significant growth in the near term. Here’s a closer look at the factors driving this optimistic outlook.

Ethereum’s Next Big Move: 3 Bullish Signals That Could Skyrocket ETH

Although ETH has been largely the biggest disappointment of the current cycle that started last year, certain factors suggest it has room for growth. Whales are back on the offensive, and the declining sentiment could result in a price reversal in the short term. Data from Lookonchain suggests that Ethereum whales have reversed their strategy and started to accumulate once again. An address linked to Metalpha has purchased roughly $50 million worth of ETH since April 1. Another wallet withdrew almost $100 million in ETH out of GateIo, and a third one transferred more than 10,000 ETH from Bybit.

Bybit Tracks $1B+ in Stolen Crypto From Lazarus Group Hack

Bybit CEO Ben Zhou revealed that over two-thirds of the $1.4 billion stolen in a February cyberattack remain traceable. Nearly 70% of the stolen funds can still be tracked, while 27.6% have disappeared and 3.8% have been frozen. The untraceable funds primarily flowed through mixers and then moved to peer-to-peer (P2P) and over-the-counter (OTC) platforms via cross-chain bridges.