The Balancer hacker, who stole $98 million in assets last November when ETH traded at $3600, has now swapped 14,300 ETH into 419.3 BTC worth $32.51 million using THORChain's cross-chain mechanism. Current holdings stand at 7,700 ETH on the Ethereum chain and 419.3 BTC on Bitcoin, totaling $50.4 million—a sharp decline from the original haul amid broader crypto market crash pressures.

This move echoes the November 2025 Balancer DeFi protocol hack, where exploits drained over $120 million from v2 pools, highlighting persistent vulnerabilities in decentralized finance. THORChain, known for seamless cross-chain swapping ETH to BTC, enabled this laundering without centralized oversight, tying into recent hype around Bitcoin and BTC as safe havens.

On the 4-hour ETH chart, price action clings to $2318.23 in a bearish trend, with the EMA50 at $2326.38 acting as immediate overhead resistance and the EMA200 at $2233.24 providing deeper support. MACD shows a death cross at -5.83, signaling weakening momentum, while RSI at 45.78 hovers neutral—price trades inside Bollinger Bands, testing the upper resistance at $2408.63 that could cap upside, but a break below lower support at $2279.04 risks accelerating the slide, aligning with our ETH price prediction of a retracement before any rebound.