Question #473 ·
How did the $1.4 billion hack at Bybit influence Bitcoin market sentiment?
- It increased fear about security and led more investors to sell Bitcoin Right answer
- It boosted confidence in exchange security and encouraged investors to buy more
- It improved market sentiment by showing robust security measures at exchanges
Why is this the correct answer?
This is correct because a large exchange hack undermines confidence in the security of trading platforms. When investors worry about losing funds, many liquidate positions to avoid further risks, thus driving selling pressure.