Arbitrum freezes $30M in Binance hack-linked funds as ARB falls 4.5%

Arbitrum [ARB] was down 4.5% in the past 24 hours, following a market-wide sell-off as Bitcoin [BTC] prices slipped below $77k once again. The ARB price slide below the $0.162 local low was a blow for swing traders and heralded further losses. The MACD was on the verge of a bearish crossover just above the zero line on the weekly chart. However, like the swing structure, the OBV has also been trending higher in recent months. Barring a massive sell-off, ARB prices staying above $0.11 is enough to keep long-term investors' bias comfortably bullish.