The hacker behind the November 2023 Balancer exploit, which drained $98 million in assets, resurfaced today to launder funds through THORChain. They swapped 7,000 ETH into 204.7 BTC valued at $15.88 million, with operations still ongoing. This mirrors yesterday's move by the KelpDAO hacker, who converted 75,700 ETH entirely to BTC via the same cross-chain protocol. THORChain, built as a trust-minimized settlement layer for cross-chain trades, has drawn scrutiny for enabling such activities, much like its role in past cryptocurrency money laundering cases over the last year.

On the technical front for ETH, price action clings to $2306.47 amid a clear bearish structure, with the EMA50 at $2326.76 acting as immediate overhead resistance and the EMA200 at $2230.52 providing deeper support. Momentum sits neutral via RSI at 42.15, but MACD's death cross at -5.59 screams sustained downside pressure. Volatility confines trading inside Bollinger Bands, testing the lower support at $2271.37 while upper resistance looms at $2410.84—confluence here suggests a potential probe lower toward EMA200 before any rebound, especially as crypto market crash fears linger and ETH price prediction models eye further consolidation amid Bitcoin dominance.