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An analyst suggested that the Monero (XMR) may repeat the 2021 cycle-high amidst the recent price jump. However, a well-known on-chain sleuth is linked to climbing suspicious transactions to Bitcoin (BTC).
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Monero yields after $ 330 million BTC robbery
Privacy and token that Monero's security -dedicated to the price of 52% in a four -year high on Monday. Cryptocurrency has emerged from recently reclaimed $ 220- $ 230 support to $ 340 resistance, hitting $ 347 on the first hours of Monday.
In the midst of massive progress, the on-chain detective ZachXBT links the bomb to a “suspicious move” from a potential victim of social engineering. Crypto Sleuth explained that a weakening of 3,520 BTC, worth about $ 330.7 million, was made on Sunday night.
According to the post, the funds were laundered by more than 6 instant exchanges shortly after the initial transfer, replaced for XMR, which seemed based on the timing assessment and the jump of the Monero price.
An X user suggested that the stolen Bitcoin was “likely from the Bitstamp Hack that took place in 2014.” The Internet Detective has denied the idea, Says That the victim is probably an OG Bitcoiner.
Meanwhile, others asked if the purse would make transactions or if it was a robbery. Zachxbt detailed Multiple factors that led him to believe that it was probably a robbery, including a purse that was a long -standing BTC holder and a Gemini, river, and Coinbase user.
In addition, he noted that $ 330 million in Bitcoin was suddenly moved and moved to small increases in instant exchanges, creating road -in -the -way orders. This will make the owner lose a lot of 7-figure on fees, making it ineffective for a normal person.
Crypto Sleuth also states that theft is not likely to be associated with the Lazarus Group of North Korea, who recently stole $ 1.5 billion worth of Ethereum (ETH) from the Crypto Exchange Bybit.
Is XMR close to a breakout?
Since the bomb, Monero retreated around 25% from high now to trade between the $ 250- $ 260 range. Crypto analysts Rekt Capital noted that XMR has successfully rereed its $ 214 range in support of the middle of the market recovery.
Interestingly, cryptocurrency has been moving within a $ 112- $ 214 price range since 2022, falling above the resistance line in the middle of the November post-US election breakout.
After the Q3 2024 rally, Monero entered the key $ 214-286 range, which previously worked as a major support and resistance area. After breaking the upper scope border, cryptocurrency rallied its 2018 all-time high (ATH) $ 542 and the 2021 high $ 480.
During the reefting of the Q1 2025, the XMR dropped below the $ 214 mark, which tests the $ 200 place in support before the bouncing. Similarly, early April pullback sent cryptocurrency to this level, finally recovering it two weeks ago.
Since then, the cryptocurrency has rallied towards the $ 220- $ 230 range, fueling through the ongoing recovery of the market, but eventually declined at the level of primary resistance. The recent bomb today has seen a Monero break above the $ 230 mark for the first time since February.
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Despite a laundering-driven surge, the analyst confirmed that cryptocurrency is now “repeated early 2021 history,” in which the token captures its current scope and re-ensures its lower boundaries before the high rotations are damaged.
If the history repetition and the price of XMR hold its current range, it can position itself for a flow above the $ 300 barrier.
Featured image from unsplash.com, chart from tradingview.com
