The market is in extreme fear, ByBit just lost $1.5B, and MakerDAO is surging.
Feeling the pain yet? This pullback has been brutal, but it’s nothing Bitcoin hasn’t survived before. In 2017 and 2021, we saw even deeper corrections, yet the market pushed higher. Right now, Bitcoin is down 28.5%, and fear is at extreme levels, lower than during the FTX collapse. But when you compare today’s environment to 2022, it’s clear the panic doesn’t match the reality.
The $1.5 billion ByBit hack hasn’t helped confidence, but crypto has always learned from its failures. This time, AI Security (AISec) from Forta could be the solution that prevents another multi-billion dollar mistake.
Meanwhile, MakerDAO has staged an unlikely comeback, defying the market downturn. We break down what’s driving this DeFi revival and what it means going forward.
