Bybit’s near $300 million Ether buy may contribute to a potential rally above the $3,000 psychological mark.
Ether needs a break above the key $3,000 psychological level to reverse its two-month downtrend, which now hinges on investor sentiment following the largest financial hack in crypto history.
The world’s second-largest cryptocurrency has been in a downtrend since peaking above $4,100 on Dec. 16, 2024, marking its highest level since December 2021, according to TradingView data.
ETH/USD, 1-day chart. Source: Cointelegraph/TradingView
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