#CreatorPad

Why market falls today

Deep Dive
1. Bitcoin Security Shock (Bearish Impact)
Overview: Arkham exposed a 2020 breach of Chinese mining pool LuBian, where 127,426 BTC ($14.5B today) were stolen. The hacker remains unidentified, and the revelation triggered concerns about Bitcoin’s vulnerability to sophisticated attacks.
What it means: Market confidence dipped as traders weighed risks of similar undetected exploits. Bitcoin’s 24h liquidations hit $54M (-77% vs prior day), signaling forced selling.
2. Ethereum Bearish Catalysts (Bearish Impact)
Overview: ETH dropped below $3,550 support after a whale moved 26K ETH ($95M) to exchanges. Technicals worsened with RSI at 28.83 (oversold) and Open Interest down 5.47%.
What it means: Ethereum’s weakness dragged altcoins, with ETH/BTC ratio falling 0.7%. Analysts cite fading Layer-2 momentum despite upgrades.
3. Leverage Reset (Mixed Impact)
Overview: Crypto derivatives open interest fell 8.4% to $799B, while funding rates stayed positive (+0.0055%). This suggests orderly deleveraging rather than panic.
What it means: Traders reduced exposure ahead of potential macro risks (U.S. tariff hikes), but stable ETF flows ($151B BTC AUM) limited downside.
Conclusion
Today’s dip reflects a mix of security jitters, Ethereum’s technical breakdown, and cautious positioning ahead of macro events. While the 30-day market cap remains up 8.13%, traders are locking in gains after July’s rally. Watch Bitcoin’s $113K level – a hold here could signal consolidation, while a break may test the 50% Fibonacci retracement at $108K. How quickly will markets digest the LuBian hack news?