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Analysis: BTC needs to close above the key support level of $82,000 this week to avoid further declines due to disappointment among short-term investors

ChainCatcher news, according to Cointelegraph, Bitfinex analysts stated that the federal government's lack of direct investment in Bitcoin has led to a "short-term negative reaction in the market and a decline in Bitcoin prices." Bitcoin needs to close above the key support level of $82,000 this week to avoid further declines due to disappointment among short-term investors. Analysts emphasized that investors had originally expected the federal government to accumulate Bitcoin, which would demonstrate strong institutional support, but the approach of relying solely on existing holdings without increasing investments has weakened those expectations.Nexo analyst Iliya Kalchev pointed out that, in addition to crypto-related legislation, macroeconomic developments and global trade concerns continue to put pressure on Bitcoin prices. Next week, the market will focus on the U.S. Consumer Price Index and employment report, which will serve as important indicators for inflation slowdown and potential interest rate cuts.On the technical side, Bitcoin's Relative Strength Index (RSI) is at 28, indicating that the asset is in an oversold state. Analyst Rekt Capital noted that every time the RSI reaches 28 in the current cycle, Bitcoin's price "either hits the bottom or is only 2% to 8% away from the bottom."

The European Central Bank avoided a payment system "disaster," but exposed vulnerabilities in emergency response

ChainCatcher news, according to Jinshi reports, the European Central Bank's payment system experienced a major failure last Thursday, and the chaos that ensued during the 10 hours it took to identify and resolve the issue led to disruptions in welfare payments for over 15,000 Greeks, a large number of wages and pensions in Austria, and several financial transactions. The situation could have potentially worsened.If the situation had occurred or continued into the next day, i.e., at the end of February, it would have been a payday for many public sector employees, pensioners, and welfare recipients, and this chaos could have impacted millions of people and businesses, putting a strain on the banking system. According to officials from the Eurozone central bank, the core of the escalating turmoil was a hardware failure, but technicians took hours to identify the problem after initially misdiagnosing a database issue.Markus Ferber, a member of the European Parliament and a member of the committee overseeing the European Central Bank, stated, "A hardware failure is forgivable, but it is inexcusable if there is no backup that can be immediately activated when problems arise." An official from the European Central Bank indicated that the affected hardware did indeed have multiple backups, and the bank is analyzing why they did not activate.

Slow Fog: If Bybit upgrades the Safe contract to version 1.3.0 or higher and implements an appropriate Guard mechanism, it may avoid the theft of 1.5 billion dollars in assets

ChainCatcher message, Slow Mist stated that on February 21, 2025, Bybit's on-chain multi-signature wallet was targeted and breached, with nearly $1.5 billion in assets quietly lost through a transaction with a "legitimate signature." Subsequent on-chain analysis revealed that the attacker gained multi-signature permissions through sophisticated social engineering attacks, implanted malicious logic using the delegatecall function of the Safe contract, and ultimately bypassed the multi-signature verification mechanism to transfer funds to an anonymous address. "Multi-signature" does not equal "absolute security"; even a secure mechanism like the Safe multi-signature wallet can still be at risk of being compromised if lacking additional protective measures.Bybit is using version v1.1.1 (<1.3.0) of the Safe contract, which means they cannot utilize the Guard mechanism, a key security feature. If Bybit had upgraded to version 1.3.0 or higher of the Safe contract and implemented an appropriate Guard mechanism, such as specifying a whitelist address for receiving funds and conducting strict contract function ACL verification, they might have been able to avoid this loss. Although this is merely a hypothesis, it provides important insights for future asset security management.
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