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analyst: Bybit hack drives Ethereum derivatives traders to hedge against further downside, analyst says

2025-02-24 18:20

Ethereum has dropped 5% as traders brace for further declines in the wake of the Bybit hack, which resulted in $1.5 billion worth of ether being stolen.An analyst told The Block that concerns over the potential sale of the stolen ether are driving derivatives traders to seek downside protection.

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