The Bybit exchange has recovered its liquidity to pre-hack levels just 30 days following the February 2025 attack that drained nearly $1.5 billion in funds.

According to a report from crypto research and analytics firm Kaiko, Bitcoin’s (BTC) 1% market depth, a measure of liquidity, returned to pre-hack levels of around $13 million per day in March 2025.

Bitcoin liquidity on Bybit exchange rebounds to pre-hack levels. Source: Kaiko

Altcoin liquidity levels on the exchange have been slower to recover than Bitcoin but have rebounded to around 80% of the pre-hack levels. The authors of the Kaiko report added:

“This lag is largely due to the risk-off market environment, which has impacted altcoins more severely. While Bitcoin is still seen as a risky asset, it remains the crypto market’s safe haven.”

Overall, the exchange’s trading volumes remain in recovery; however, the report notes that this drop reflects the broader market trend in response to the ongoing macroeconomic uncertainty that has rattled risk asset markets and is not an effect of the biggest hack in crypto history.

Altcoin liquidity on the platform has been slower to recover than Bitcoin liquidity. Source: Kaiko

Related: Hacken CEO sees ‘no shift’ in crypto security as April hacks hit $357M

Bybit’s incident response

The Bybit exchange was hacked by cybercriminals on February 21, 2025, resulting in $1.5 billion in stolen funds. A post-mortem update revealed a compromised device from a SafeWallet developer, the firm responsible for the multi-signature wallet custody solution used by the exchange, as the cause of the hack.

Bybit kept withdrawals open during the incident, allowing users to access and pull their funds with little delay during the crisis.

A condensed timeline of events of the February 2025 Bybit hack. Source: Kaiko

Ben Zhou, the CEO of Bybit, reassured investors that the exchange was solvent and said that the company’s reserves could cover the shortfall whether or not the stolen funds were ever recovered.

Zhou’s response united the crypto industry behind Bybit, with many competitors providing bridge loans to the exchange, technical assistance, and freezing the stolen funds on their protocols.

Magazine: Deposit risk: What do crypto exchanges really do with your money?

Key points:

Bitcoin price hangs near $97,000 as traders await today’s FOMC minutes.

Bitcoin holding $95,000 as support is key for bullish price expansion in the short term.

Select altcoins are holding their respective support levels, opening the gates for a short-term rally.

Bitcoin (BTC) bulls are trying to knock down the immediate resistance at $97,895 and challenge the all-important $100,000 level. Crypto analytics platform Santiment said in a post on X that Bitcoin wallets holding between 10 and 10,000 Bitcoin are positive about further gains as they have acquired 81,338 Bitcoin over the past six weeks.

Investors have also been piling into BlackRock’s spot Bitcoin exchange-traded fund for the past 16 days, which has boosted its new capital inflows to about $4.7 billion, according to ETF Store President Nate Geraci.

Bloomberg ETF analyst Eric Balchunas also suggested that the spot Bitcoin ETF “will have triple gold’s ETF assets under management in 3 to 5 years.”

Crypto market data daily view. Source: Coin360

According to Bitfinex data, Bitcoin must hold above $95,000 to signal a “structural shift” into bullish territory, opening the doors for a rally to an all-time high. However, if the $95,000 level cracks, the analysts expect Bitcoin to witness a deeper correction.

Could Bitcoin challenge the $100,000 resistance? Are select altcoins showing signs of a short-term up move? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin rebounded off the 20-day exponential moving average ($93,091) on May 6, indicating that the sentiment remains positive and traders are buying on dips.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

There is minor resistance at $97,895, but if the level is crossed, the BTC/USDT pair could challenge the psychological resistance at $100,000. Sellers are expected to vigorously defend the level because a break above it could propel the pair to $107,000.

Time is running out for the bears. If they want to make a comeback, they will have to sink and sustain the price below the 20-day EMA. If they succeed, the pair could tumble to the 50-day simple moving average ($87,441).

Ether price prediction

The bears are struggling to pull Ether (ETH) below the moving averages, indicating a lack of selling at lower levels.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will try to take advantage of the situation and push the price above the immediate resistance at $1,873. If they do that, the ETH/USDT pair could pick up momentum and soar toward $2,111. There is minor resistance at $1,957, but it is likely to be scaled. 

Sellers are likely to have other plans. They will try to tug the price below the moving averages, opening the gates for a fall to $1,537. Buyers will try to defend the $1,537 level, but if they fail in their endeavor, the pair may collapse to the vital support at $1,368.

XRP price prediction

XRP (XRP) fell below the moving averages on May 4, but the bears could not sink the price to the $2 support.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The flattish moving averages and the RSI just below the midpoint suggest that the XRP/USDT pair may remain stuck between the resistance line and the $2 support for some more time.

A break and close above the resistance line signals a potential trend change. The pair could then rally toward $3. Conversely, a break and close below $2 opens the gates for a collapse to the $1.72 to $1.61 support zone.

BNB price prediction

The failure of the bears to sustain BNB (BNB) below the moving averages indicates demand at lower levels.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will have to try and overcome the barrier at $620 to clear the path for a rally to the strong overhead resistance at $644. Sellers will try to halt the recovery at $644, but if the bulls prevail, the next stop could be $680.

This positive view will be invalidated in the near term if the BNB/USDT pair turns down and breaks below the $576 support. That heightens the risk of a fall to $520. Buyers are expected to aggressively defend the $500 to $520 zone.

Solana price prediction

Solana (SOL) is finding support at the moving averages, signaling a positive sentiment where dips are being purchased.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The bulls will try to strengthen their position by pushing the price above the $153 resistance. If they can pull it off, the SOL/USDT pair could climb to $180 and then to $200. That signals the pair may swing inside the large $110 to $260 range for a while.

Sellers will have to drag the price below the 20-day EMA to prevent the upside. The pair could then tumble to the 50-day SMA ($133). That indicates a consolidation between $110 and $153 for a few days.

Dogecoin price prediction

Dogecoin (DOGE) has been clinging to the moving averages, signaling a balance between supply and demand.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the price closes below the moving averages, the bears will try to pull the DOGE/USDT pair to the support of the range at $0.14. The bulls will attempt to keep the pair inside the range by buying near $0.14.

On the upside, buyers will have to drive and maintain the price above $0.21 to suggest a short-term trend change. The pair could rally to $0.25 and subsequently to the pattern target of $0.28.

Cardano price prediction

Cardano (ADA) is witnessing a tough battle between the buyers and sellers near the moving averages.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price moves up from the current level, it is expected to face selling at $0.75. A break and close above $0.75 could propel the pair to $0.83.

On the downside, there is solid support at $0.58. If the price rebounds off $0.58, the ADA/USDT pair could form a range. Sellers will seize control on a break below the $0.58 support. The pair may then descend to the $0.54 to $0.50 support zone.

Related: Can XRP price reach $4 in May? Analysts are watching these key levels

Sui price prediction

Sui (SUI) rebounded off the 20-day EMA ($3.14) on May 6, indicating that lower levels are attracting buyers.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

There is minor resistance at $3.50, but if it is crossed, the SUI/USDT pair could ascend to $3.90. Sellers are expected to defend the $3.90 level with all their might because a break above it could propel the SUI/USDT pair to $4.25 and eventually to $5.

Instead, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are rushing to the exit. The pair risks dropping to the solid support at $2.86 and then to the 50-day SMA ($2.61).

Chainlink price prediction

Chainlink (LINK) is finding support at the 50-day SMA ($13.66), but the failure to start a strong rebound suggests the bears have kept up the pressure.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

If the 50-day SMA gives way, the LINK/USDT pair could slump to $11.68. Buyers will try to defend the level, but the relief rally is likely to face selling at the moving averages. If the price turns down from the moving averages, the pair could fall to the support line of the descending channel.

Contrarily, if the price turns up from the current level and maintains above the 20-day EMA ($13.99), the pair could rally toward the resistance line. Buyers will have to pierce the resistance line to signal that the downtrend could be over.

Avalanche price prediction

Avalanche (AVAX) has slipped below the 50-day SMA ($19.90), indicating that the range-bound action could continue for a few more days.  

AVAX/USDT daily chart. Source: Cointelegraph/TradingView

If the price skids below $18.50, the AVAX/USDT pair could drop to the support of the range at $15.27. Buyers are expected to aggressively defend the $15.27 level, as a break below it may resume the downtrend.

Alternatively, a bounce off the current level suggests the bulls are trying to keep the pair inside the upper half of the range. Buyers will have to drive the price above $23.50 to start an up move to $28.78 and then to the pattern target of $31.73.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Key points:

Bitcoin investors are making the most of the highest price levels in several months by cashing out profits.

These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse.

Institutional participation has not led to a change in mindset, CryptoQuant says.

Bitcoin (BTC) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns.

In a “Quicktake” blog post on May 8, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors.

BTC profit-taking spikes to January highs

Bitcoin realized profits have spiked to multimonth highs this week as BTC/USD reached close to $98,000.

For CryptoQuant, the market is becoming comparable to late 2024, when the pair broke through old all-time highs and hit $100,000 for the first time.

“Even after positive price action after March-April drop in 2025, profit taking is still aggressive. Maybe not like November-December 2024 but still high,” contributor Kripto Mevsimi wrote.

“This is historically consistent with late-stage bull market behavior — where profit-taking dominates, even as price continues to rise.”Bitcoin net realized profit and loss. Source: CryptoQuant

CryptoQuant data puts the current 7-day moving average realized profit across the hodler spectrum at approximately $1 billion per day.

“If we look back at similar cycles (e.g. 2021), this phase often preceded a local top or sharp correction, especially when profit-taking stayed high and continuous,” it continued.

No hiding from Bitcoin “investor psychology”

As Cointelegraph reported, some market commentators have argued that the Bitcoin investment landscape has fundamentally changed thanks to increased institutional participation.

Related: Bitcoin pushes for $98K as 2025 Fed rate cut odds flip ‘pessimistic’

Chief among the new players are the US spot Bitcoin exchange-traded funds (ETFs), the largest of which, BlackRock’s iShares Bitcoin Trust (IBIT), has seen net inflows every day for more than two weeks.

Despite this, Kripto Mevsimi contends that underlying reactions to BTC price changes remain the same.

“Since spot ETFs launched in January 2024, market structure has changed — but investor psychology hasn’t,” he summarized.

Source: Farside Investors

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.