Bitcoin Rebounds from Weekend Crash while Ethereum and Ripple Continue to Decline

Bitcoin Shows Slight Recovery in US Market

Ethereum and Ripple Still Affected by Hacking Incident

The digital asset market has not yet recovered from the sharp decline over the weekend. While Bitcoin has shown a slight rebound, Ethereum and Ripple remain in decline.

According to CoinDesk data, Bitcoin price reached $95,915, up 0.2% around 8 AM Eastern Time.

However, Ethereum, the world's second-largest digital asset, is trading at $2,698, down 4% over the past 24 hours.

Ethereum took a significant hit when Bybit, a digital asset platform in Dubai, announced on the 21st that hackers had stolen digital assets worth $1.5 billion from their Ethereum coin digital wallet.

The Ethereum hacking theft has accelerated the decline of digital assets, which were already impacted by the US stock market crash.

Meanwhile, Ripple's price is trading at $2.47, down 4% early on the 24th US time. Ripple, an altcoin that surged after Trump's election victory, is still up 304% over the past six months.

Cryptocurrencies, which crashed on Friday, are failing to keep pace with the stock market's rebound today.

Cryptocurrencies have recently been moving in tandem with the US stock market, responding to macroeconomic and geopolitical events. However, they are under additional pressure from the new hacking incident.

By Jung-ah Kim, Contributing Writer kja@hankyung.com