Famous trader: The Binance hacker incident may become the market bottom, and subsequent rallies are the best way to recover losses

Trader Killa posted that the collapse of FTX marked the bottom of the market, and this Binance hacking incident may have a similar effect. He believes that the best way to recover losses is to drive prices significantly higher rather than further declines, and mentioned that Binance holds billions of dollars in Bitcoin, having the financial strength to initiate billions of dollars in long positions, which may not be directly observed by retail investors.

Killa also speculated that Binance may have generated about $1 billion in revenue through liquidation, slippage, and trading fees. Although the market may take some time to digest the short-term impact of this incident, he remains optimistic about the medium to long-term trend of the crypto market.