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BCH $207.04 +0.47%
LINK $7.90 -0.44%
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AAVE $62.37 -2.79%
SUI $0.7569 +0.02%
XLM $0.1981 -1.31%
ZEC $473.55 +12.60%
BTC $62,583.11 -0.93%
ETH $1,675.94 -0.15%
BNB $597.62 -0.37%
XRP $1.14 +0.79%
SOL $66.20 -0.39%
TRX $0.3230 -1.14%
DOGE $0.0856 -0.74%
ADA $0.1680 +0.98%
BCH $207.04 +0.47%
LINK $7.90 -0.44%
HYPE $61.93 +0.17%
AAVE $62.37 -2.79%
SUI $0.7569 +0.02%
XLM $0.1981 -1.31%
ZEC $473.55 +12.60%

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Analysis: Bitcoin's "silent bear market" continues, recording the worst weekly performance since the FTX collapse

Bitcoin briefly fell below $60,000 last Monday, marking the worst weekly performance since the FTX exchange collapse in 2022. As of last Sunday, Bitcoin had accumulated a 16% decline over the past 7 days, retreating more than 50% from its historical high of over $126,000 in 2025. Several market analysts warned that the current rebound may be difficult to sustain, and Bitcoin may not have reached the bottom of this cycle yet. Griffin Ardern, co-founder of Primal Fund, stated that the market is still quite far from the "true bottom."Data shows that the U.S. spot Bitcoin ETF has recorded net outflows for 13 consecutive trading days, with a total outflow of approximately $5.5 billion. At the same time, Bitcoin fell below the 200-week moving average, widely regarded as a key support level, further weakening market confidence. Paul Howard, a senior executive at crypto trading firm Wincent, described the current market as a "silent bear market," believing that falling below the 200-week moving average is an important confirmation signal for the market entering a bear phase.Analysts pointed out that the ongoing conflict between the U.S. and Iran, the reversal of expectations for Federal Reserve interest rate cuts, and strong U.S. employment data are driving the market to reprice the interest rate path, with a high interest rate environment being unfavorable for the performance of risk assets, including crypto assets. Additionally, some funds are flowing from the crypto market into artificial intelligence and tech stock sectors. Nevertheless, the current pullback is still less than historical bear market cycles. In past bear markets, Bitcoin typically retreated about 80% from its peak, while this round has seen a decline of about 50%. Some traders believe that if the macro environment continues to deteriorate and companies holding large amounts of Bitcoin face financing pressures, there remains a risk of further downside in the market.

Humility: The stolen funds amount to 36 million dollars, and we will cooperate with the police to investigate and recover the funds

Humility Protocol released a security incident update on the X platform, indicating that yesterday the H token suffered a coordinated attack on the Ethereum and BSC chains, with over $36 million in assets confirmed to have been stolen and sold off.Preliminary investigations show that the incident originated from an employee's computer being compromised, leading to the leakage of the multi-signature wallet keys controlling the Hyperlane Bridge ProxyAdmin. Among them, the attacker obtained 3 out of 6 private keys from Gnosis Safe holders on the Ethereum chain, transferred ownership of ProxyAdmin to their controlled wallet, and upgraded the bridging contract to a malicious implementation, subsequently transferring approximately 141.2 million H tokens in a single transaction.Meanwhile, the attacker also controlled 3 out of 5 private keys from Safe wallet holders on the BSC chain, taking over ProxyAdmin in the same manner and deploying a malicious contract with unlimited minting capabilities, minting 200 million H tokens to their wallet in two transactions.Humility stated that it has suspended all deposit and withdrawal operations for the affected bridging services and is collaborating with exchanges and other relevant partners to mitigate losses, while also cooperating with law enforcement to investigate and attempt to recover some of the stolen funds.
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