Arthur Hayes: U.S. dollar liquidity is recovering, but Bitcoin is expected to remain weak before the Federal Reserve expands its balance sheet.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the hacker suspected of stealing roughly $106 million from a European Union entity purchased 27,553 ETH in a single day yesterday, valued at around $62.83 million. The entire position was built on-chain at an average price of approximately $2,280.34, and the hacker has seemingly paused buying activities for now. Late yesterday, on-chain detective ZachXBT posted on his personal channel that a European Union entity reportedly lost over $106 million across multiple centralized exchange accounts. The hacker has been converting large volumes of USDC into ETH.

The total circulating supply of on-chain tokenized stocks has hit a new all-time high, reaching $3.8 billion, marking 10 consecutive weeks of record-setting, with a roughly 590% increase year-to-date. Financial markets are accelerating toward asset tokenization: as investor demand for 24/7 trading rises, tokenized assets are increasingly meeting this demand.

According to EmberCN’s monitoring, ZEC dropped around 9% today, leading a whale that recently held both spot and futures long positions on ZEC to incur total losses of roughly $5.84 million. On the spot front, over the past four days, the whale spent approximately $31.78 million USDT to purchase 25,002 ZEC at an average price of ~$1,271, posting an unrealized loss of about $3.26 million. For the futures side, during the same period, the whale opened long positions on 18,910 ZEC on Hyperliquid at an average price of ~$1,378. After ZEC fell below $1,200 in the early hours of today, all positions were closed via stop-loss liquidation, resulting in losses of around $2.58 million.

Renowned crypto trader Ansem stated in a post that understanding how higher-timeframe candlesticks form on lower timeframes is one of the most valuable skills in trading. He pointed out that each candlestick has only a few general trajectories: remaining within the previous range, breaking upward, or breaking downward. Once a directional bias emerges, traders should track the progression of the higher-timeframe candlestick using lower timeframes and aim to enter positions before the higher timeframe closes. Ansem illustrated this with an example: a daily candlestick with a long lower wick typically signals that prices dipped before buyers pushed them back up. Learning to identify these structures as they develop helps traders better understand price action and determine their position entries.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the hacker suspected of stealing roughly $106 million from an EU entity bought 27,553 ETH in a single day yesterday, worth around $62.83 million. The entire position was built on-chain at an average price of approximately $2,280.34, and buying activity appears to have paused for now. Late yesterday, on-chain detective ZachXBT posted on his personal channel that an EU entity is suspected of losing over $106 million from multiple centralized exchange accounts. The hacker has been converting large volumes of USDC into ETH, transferring the funds to instant trading platforms, converting them to Monero (XMR) via Wagyu, and bridging the assets across multiple blockchains.

According to the Korean Central News Agency (KCNA), North Korea, in a statement denying links to the Binance hack, also noted that last year, the U.S. similarly blamed North Korea for the cyberattack on crypto exchange Bybit. The U.S. misleads international public opinion, creating the false impression that cyber frauds worldwide are all perpetrated by North Korea, which constitutes a serious political provocation against the Democratic People’s Republic of Korea (DPRK). North Korea firmly opposes any attempt to politicize cyber issues as a tool for interfering in other countries’ internal affairs, a stance that has long been the consistent policy of the DPRK government. The international community needs to recall again the fact that last year, immediately after the current U.S. administration took office, it announced the seizure of illegally stolen cryptocurrency assets to use as national strategic reserves. One may wonder who the massive stolen crypto funds would end up with once recovered, a question that could reveal clues behind the recent hack incident. On February 21, 2025, Bybit suffered a large-scale theft incident totaling approximately $1.5 billion. The U.S. FBI and multiple on-chain analytics firms subsequently attributed the incident to North Korea’s Lazarus Group (also known as TraderTraitor).