Ethereum's $2,100 Struggle Amid $11 Million Bridge Exploit

This week in 60 seconds: Ethereum's teetering just above $2,100 and a bridge exploit isn't helping. The Verus-Ethereum bridge got hit, losing over $11 million in a flash. The attacker made off with 103.6 tBTC, 1,625 ETH, and 147,000 USDC, converting that haul into 5,402 ETH. It's a good old-fashioned crypto heist, and it's rattled investor confidence at a time when ETH's price could use some love.

Bridge hacks aren't new, but they're still a huge thorn in DeFi's side. Remember Kelp DAO's $293 million loss in April? And the Drift attack earlier this year added another $270 million to the running tab of chaos. These aren't just numbers. they're stress points highlighting the shaky foundation of cross-chain infrastructure. Oracles and protocols, consider yourselves warned.

So what's next for Ethereum? It's flirting with danger at $2,100. The bulls need to see a bounce up to $2,250 or else the bears might run the show. Right now, support is thin, and resistance is thick. And unless we see a serious catalyst, like ETF flow data, expect sideways action at best. Maybe LiquidChain's attempt at unified liquidity can shine some light on this murky situation. But here's the thing: without significant upgrades or trust in security, Ethereum's climb back above $2,200 looks tougher than ever.

The takeaway? Ethereum’s not just battling price resistance, but also a crisis of confidence in DeFi's safety. Watch those resistance levels and get ready for more volatility.