Analyst predicts Binance loss coverage will increase Bitcoin buying pressure

Crypto trader Doctor Profit maintains a bullish outlook for Bitcoin following the recent Binance hot wallet breach, suggesting that the exchange's need to replenish lost assets could create significant buying pressure in the market. Doctor Profit estimates that approximately 6.3 billion dollars in total losses occurred, with around 3.0 billion dollars currently frozen. After Tether and Circle reissue frozen assets for USDT and USDC, a shortfall of about 3.3 billion dollars, or roughly 2.05% of Binance's total assets, would remain. Binance has committed to one-for-one reimbursement for affected tokens, and if no further recoveries occur, the exchange will need to repurchase large cryptocurrencies, including Bitcoin, through open market and OTC channels, resulting in net liquidity inflows. Additionally, Doctor Profit has prepared for short-term volatility and has entered the market accordingly, holding a leveraged Bitcoin long position opened around 80400 dollars and spot holdings with an average entry price of 60000 dollars.

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