Bybit hack derails BTC claim on 100k

On Friday Bitcoin seemingly had the wind behind it when it pushed above its 50 day moving average, which had been capping the topside since earlier in the month. That was in place then at around 99,062. BTC eventually rose to just above 99,500 following the news reported here concerned the SEC and Coinbase, but that was the extent of it. Once it dropped back underneath that 50 day moving average, it seemed to trip a whole bunch of reversals. That sent it back down to around 94,825 ahead of the wider US close. This all came about after it emerged that Ether had been hacked on the Bybit exchange, to the tune of around $1.5 billion. ETHUSD tumbled more than 7% at one stage on that news. However, it did recover into the weekend after Bybit gave assurances it could cover the loss.That said, BTC has not managed to make any real progress over the weekend or so far today. Earlier today BTC did push higher, reaching 96,505, but since then it has fallen back to a session low at 95,105. It is off that low now, currently trading at 95,820, but it seems the jury is still out on overall direction today.