KelpDAO Hacker: Converts $175M ETH to BTC

The KelpDAO hacker wasted no time, converting 75,700 ETH valued at $175 million into BTC within a day and a half, primarily routing the cross-chain swaps through THORChain. This massive operation injected $800 million in trading volume into THORChain, raking in $910,000 in platform fees and highlighting vulnerabilities in crypto hacking incidents while riding the wave of Bitcoin dominance in the market.

Zooming into the ETH 4-hour chart, price action holds firm in a bullish structure, grinding above the EMA50 at $2329.89 and well clear of the EMA200 support at $2223.76, signaling sustained upward momentum for any ETH price prediction. MACD flashes a golden cross with a 14.71 reading, underscoring bullish conviction, while RSI at 54.99 stays neutral, avoiding overbought pitfalls. Volatility squeezes inside the Bollinger Bands, with price probing the upper resistance at $2419.02—expect a potential exhaustion pullback to the lower band support near $2250.44 before resuming the grind, especially as cross-chain flows like this hacker's move amplify liquidity shifts in the crypto market crash recovery phase.