In a shocking development that has sent ripples through the cryptocurrency market, a hacker associated with the Bitrue exchange exploit has reportedly dumped 4,207 ETH for $16.34 million in DAI at a price of $3,885 per ETH back in March 2023. According to insights shared by Crypto Rover on social media, the same hacker is now using those funds to buy back ETH at a lower price as of June 12, 2025, taking advantage of recent market dips. This strategic move highlights the sophisticated tactics employed by malicious actors in the crypto space and raises critical questions for traders about market manipulation and price volatility. The initial dump of 4,207 ETH, recorded on-chain around March 15, 2023, at approximately 14:00 UTC, contributed to a temporary bearish pressure on ETH, pushing its price down by 3.2% within 24 hours on major trading pairs like ETH/USDT and ETH/BTC across exchanges such as Binance and Coinbase. This event not only impacted retail traders but also caught the attention of institutional players monitoring on-chain activity for unusual volume spikes. As of the latest update, the hacker’s buyback activity was observed on June 12, 2025, at around 09:00 UTC, with ETH trading at approximately $3,450, a notable discount from the March selling price. This maneuver suggests an attempt to profit from price differences, potentially netting the hacker significant gains if ETH rebounds. For traders, this incident underscores the importance of tracking large wallet movements and understanding their potential impact on market dynamics, especially during periods of low liquidity.

The trading implications of this hacker’s actions are profound, particularly for those focused on Ethereum and related altcoins. The initial dump in March 2023 led to a spike in trading volume on ETH/DAI pairs, with Binance reporting a 24-hour volume increase of 18% to over $120 million by March 16, 2023, at 10:00 UTC. This surge reflected panic selling by smaller traders, while the current buyback activity signals potential bullish momentum if the hacker’s purchases absorb available sell orders. Cross-market analysis reveals that ETH’s price movements during these events correlate with broader crypto market sentiment, as Bitcoin (BTC) also saw a 2.1% dip on March 15, 2023, around 15:00 UTC, before stabilizing. For traders, this presents opportunities to scalp short-term price fluctuations on ETH/USDT or ETH/BTC pairs, especially during high-volume periods. Additionally, the hacker’s activity could influence decentralized finance (DeFi) tokens tied to Ethereum, as increased ETH buying may drive up gas fees and boost demand for scaling solutions like Polygon (MATIC) or Arbitrum (ARB). Monitoring on-chain metrics, such as the number of active addresses and transaction volumes on Ethereum’s network, becomes crucial for predicting whether this buyback will trigger a broader rally or face resistance from profit-taking sellers. As of June 12, 2025, at 11:00 UTC, ETH’s 24-hour trading volume on major exchanges stood at $15.3 billion, a 9% increase from the previous day, indicating heightened market interest.

From a technical perspective, ETH’s price chart shows key levels to watch following these developments. After the hacker’s buyback was reported on June 12, 2025, ETH tested resistance at $3,500 around 12:00 UTC, with the Relative Strength Index (RSI) hovering at 52, suggesting neutral momentum on the 4-hour chart. Support lies at $3,400, a level breached briefly on June 11, 2025, at 18:00 UTC, before recovering. Volume data from CoinGecko indicates that ETH’s trading activity spiked by 12% during the buyback window on June 12, 2025, between 09:00 and 13:00 UTC, with over $1.2 billion in transactions recorded on ETH/USDT alone. Market correlations also reveal that ETH’s price action remains tied to BTC, with a 0.85 correlation coefficient over the past 30 days as of June 12, 2025. For traders, a break above $3,500 could signal a bullish continuation, potentially targeting $3,700, while a drop below $3,400 may invite further selling pressure. On-chain metrics from Glassnode show a 7% increase in Ethereum’s active addresses since June 10, 2025, reaching 450,000 by June 12, 2025, at 14:00 UTC, hinting at growing network activity possibly fueled by the hacker’s transactions. While this event does not directly tie to stock market movements, it indirectly reflects institutional interest in crypto volatility, as hedge funds often monitor such large transactions for arbitrage opportunities. Traders should remain vigilant, using tools like Whale Alert to track similar wallet activities and adjust their strategies accordingly for maximum profit potential in this dynamic market.

In summary, the Bitrue hacker’s actions provide a unique case study for crypto traders, blending elements of market manipulation, on-chain analysis, and cross-asset correlations. Staying ahead of such events requires a deep understanding of technical indicators, volume trends, and broader market sentiment to capitalize on emerging opportunities or mitigate risks effectively.