Binance Hacker Sits on $1.4 Billion in Bitcoin, Triple a Week of ETF Buying, as Route 2 FI Buys the Dip

Bitcoin news on Friday turned to a warning from trader Route 2 FI , who said the Binance hacker’s $1.4 billion in BTC is more than three times what spot ETFs bought all week, a potential seller hanging over Bitcoin at $77,300. Arkham’s entity page shows the Binance hacker holding 18,270 BTC worth $1.42 billion and 488,364 ETH worth $1.09 billion across 73 addresses. US spot Bitcoin ETFs took in about $440.7 million from Monday to Thursday. Route 2 FI still likes the setup enough to take a position. The trader expects Binance to recover fully but thinks the hack will push more people toward decentralized exchanges. Binance would need a couple of months to fill this hole, unless they use other shady tactics to get whole faster.

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