Bybit Buys Back ETH After $1.4B Heist | Can Ethereum (ETH) Surge to $3,100?

The crypto market is buzzing after Bybit, one of the largest cryptocurrency exchanges, began repurchasing Ethereum (ETH) following a massive $1.4 billion heist on February 21, 2025. According to Arkham Intelligence, Bybit spent nearly 100 million USDT to buy 54,393 ETH at an average price of $2,711—a move that has sparked bullish momentum in the ETH market.

But the big question remains: Can ETH break through key resistance levels and hit $3,100? Let's dive into the latest developments, market analysis, and Ethereum price predictions.

Bybit’s Strategic ETH Buyback – What Happened?

Following the $1.4 billion hack, Bybit made a strategic move by buying back a significant amount of Ethereum. However, instead of purchasing ETH directly from the market, the exchange facilitated the transaction through Galaxy Digital and FalconX via OTC (over-the-counter) trades.

This large-scale ETH acquisition has boosted confidence in Ethereum, reducing fear and uncertainty among traders.

Bybit CEO Expresses Gratitude

Bybit CEO Ben Zhou took to X (formerly Twitter) to express his appreciation for the crypto community’s support. Major companies and institutions, including Antalpha, Bitget, Pionex, MEXC, Mirana, Sosovalue, Solana Foundation, TON Foundation, Blockchain Center Dubai, Ghaf Capital, Bitvavo, Tether, and Galaxy, played a crucial role in helping Bybit recover.

ETH Price Surges – Will It Hit $3,100?

📈 Ethereum’s price is currently on an upward rally following the buyback move.

At press time, ETH is trading around $2,780, reflecting a 2.50% price increase in the last 24 hours.
🔹 ETH Trading Volume: Up 10%, indicating increased trader participation.
🔹 ETH Outperforms Bitcoin (BTC) and XRP: Shows stronger momentum despite sell-off pressure.

This bullish price action has fueled optimism about ETH's future trajectory.

$155M ETH Inflow Signals Potential Sell-Off

While ETH's price is rising, long-term holders appear to be cashing out. According to Coinglass data, cryptocurrency exchanges have recorded $155.50 million in ETH inflows, which could indicate potential selling pressure.

📌 Typically, large inflows to exchanges signal a wave of selling activity, leading to a temporary price dip. However, Ethereum has defied the trend, continuing its bullish momentum and outperforming major cryptos like BTC and XRP.

Ethereum (ETH) Technical Analysis & Key Levels to Watch

ETH is currently consolidating within a tight range between $2,560 and $2,800, and experts predict a breakout is imminent.

🔹 Bullish Scenario:

• If ETH closes above $2,820, it could trigger a 10% rally to $3,100.

• The next major resistance sits at $3,100, where ETH may face selling pressure.

🔹 Bearish Scenario:

• ETH remains below the 200 Exponential Moving Average (EMA) on the daily chart, indicating it's still in a downtrend.

• A failure to break $2,820 resistance could push ETH back to the $2,560 support level.

🔹 Market Sentiment:

• Analysts remain cautiously bullish, expecting a strong rally if ETH breaks out of its consolidation phase.

What’s Next for Ethereum (ETH)?

With Bybit’s ETH buyback, increasing trading volume, and strong technical patterns, Ethereum seems poised for a potential breakout.

📌 Key Factors to Watch:

• Will ETH break the $2,820 resistance?

• Can it sustain its momentum despite exchange inflows?

• How will Bitcoin and the broader crypto market influence ETH's price?

🚀 Final Verdict: If ETH sustains bullish momentum, we could see Ethereum rally towards $3,100 in the near future.

FAQs: Ethereum (ETH) Price & Market Trends

1. Why is ETH price rising after the Bybit hack?

Bybit’s buyback of 54,393 ETH worth $100M has boosted investor confidence and reduced selling pressure, leading to a 2.5% price surge.

2. Is now a good time to buy Ethereum?

If ETH breaks the $2,820 resistance, it could rally to $3,100. However, traders should watch for volatility and set risk management strategies.

3. Will Ethereum (ETH) hit $3,100?

ETH needs to close above $2,820 on the daily timeframe to confirm a breakout towards $3,100.

4. What’s the biggest risk to ETH’s price right now?

🔸 $155M ETH inflow to exchanges may indicate potential selling pressure from long-term holders.
🔸 ETH is trading below the 200 EMA, meaning downtrend risks still exist.

Conclusion: Ethereum (ETH) on the Brink of a Breakout?

The Bybit ETH buyback has injected fresh momentum into the market, sparking bullish sentiment. While ETH faces selling pressure from exchange inflows, its technical setup and increased trading volume suggest a breakout is likely if it can breach $2,820.

🚀 Will ETH hit $3,100 soon? Stay updated with the latest market trends and expert analysis!

🔹 Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.