Bitcoin slipped below its 7-day moving average despite $2.8 billion in ETF inflows over six days, briefly dropping to $83,160 on September 25. Rising U.S. Treasury yields and $140 million in selling by miners weighed on the price, which has failed to surpass its recent high of $87,345 set on September 21. Crypto exchange Bitget suffered an illicit outflow of about $387.5 million, and the company revised its loss estimate upward from an initial figure of roughly $351.6 million. CEO Gracy Chen said attackers compromised the backend system of a key wallet and approved 19 large transfers. In response, selling pressure intensified in the BTC derivatives market, with the taker buy-sell ratio falling from 1.09 on September 21 to 0.95 on September 25. Bitget, meanwhile, holds a $464 million user protection fund, and since the loss is smaller than that fund, it says user assets are fully protected. In the near term, focus is on support at $82,700 and resistance at $87,409.
BitcoinBitcoin fell below its 7-day moving average as rising U.S. Treasury yields weighed on the price.
Bitget suffered an illicit outflow of about $387.5 million after attackers compromised a key wallet's backend system.
