Crypto market per day: Bitcoin at $91,000 and a series of hacker incidents

Over the past 24 hours, the crypto market has shown moderate growth amid expectations of a US Federal Reserve rate cut and Bitcoin stabilization above the key $90,000 level. Investors are simultaneously monitoring news of a major security incident at the Upbit exchange and increased regulation in Europe, where the European division of KuCoin received a MiCA license in Austria.​

Bitcoin stabilizes above $90,000

According to price aggregators, Bitcoin is trading around $92,000, remaining slightly below recent local highs. Daily fluctuations remain relatively moderate, while analysts note continued interest in purchases during the drawdown and the return of large holders to accumulation.​In the derivatives market, traders see room to move into the area around $100,000, but expectations for further gains have become more cautious amid strong volatility in previous weeks. Sentiment is further supported by the growing chances that the Fed will cut its key rate at the next meeting.​

Upbit hack and exchange security theme

The largest Korean exchange, Upbit, faced a large-scale security incident that led to losses of about $38 million in various tokens. South Korean regulators suspect the involvement of the North Korean hacker group Lazarus, which has already been involved in several high-profile cyber attacks on the crypto industry.​The exchange stated that it is fully compensated for client losses from its own reserves, but temporarily suspended the input and output of some assets and strengthened the transaction control procedure. The incident has once again brought to the market the topic of the risks of storing assets on centralized platforms and the need for more stringent cybersecurity standards.​

Regulatory news: MiCA license and Fed expectations

The European division of the KuCoin crypto exchange has received a MiCA license in Austria, which will open access to the provision of regulated crypto services throughout the European Economic Area. This is one of the first major examples of global exchanges adapting to a single pan-European regime for regulating crypto assets.​At the macro level, market participants’ attention is shifting to US monetary policy: the probability of a Fed rate cut is estimated by the futures market at approximately ∼85% or higher. Softer rate expectations traditionally support demand for risky assets, which include cryptocurrencies.​

Other notable events and trends

Against the backdrop of Bitcoin stabilization, some altcoins are showing moderate growth, but without pronounced “rocket of the day” in large capitalizations. The focus remains on tokens of infrastructure projects and L1/L2 networks, where market participants monitor protocol updates and launches of new solutions.​In parallel, discussions continue on large institutional flows into Bitcoin and the possibility of a scenario in which the price tests the $120,000 range in the medium term if current macro trends continue. However, analysts emphasize that the path to these levels may be accompanied by protracted periods of consolidation and sharp corrections.​

News highlights:

• Bitcoin is trading around $91,000, holding above the key $90,000 level.
• Large Korean exchange Upbit suffered losses of about $38 million due to a hacker attack, but announced a full refund of client funds.
• The European division of KuCoin received a MiCA license in Austria, strengthening the trend towards institutionalization of the crypto market in the EU.
• The probability of a Fed rate cut, according to market estimates, exceeded 80-85%, which supports investor interest in crypto assets.

Disclaimer:
The information is for informational purposes only and under no circumstances constitutes individual investment advice.