Why Is Crypto Market Up Today Despite Three Major Hack in a Day?

Why Is Crypto Market Up Today: Reason Behind BTC, ETH, XRP Price Rally

Three platforms got hit by hackers in a single day, yet prices are climbing anyway. That's the strange story of September 25. Bitget confirmed a major breach, Magic Eden flagged a security scare, and Meter's chain suffered an exploit, the kind of news that normally sends traders running. Instead, Bitcoin, Ethereum and XRP are all pushing higher and total value across digital assets is back in the green. 

So why is crypto market up today when trust just took three separate hits? The short answer: new regulation, big wallets buying, and steady ETF cash are outweighing the bad headlines, at least for now.

Key Takeaways

• Even after Bitget's $350 million hack, Magic Eden's NFT scare and Meter's $2.3 million exploit, total crypto value sits at $2.97 trillion, up 1.6% in a day.

• Bitcoin trades at $84,691.11 (up 1.8%), Ethereum at $2,708.78 (up 2.5%), and XRP at $1.56 (up 6.7%), leading the recovery.

• Spot ETFs for Bitcoin, Ethereum, XRP and Solana all pulled in fresh cash today, while a new stablecoin rulebook and a BlackRock-Ondo tie-up added confidence.

Three Hacks In One Day: What Actually Happened

Bitget's CEO said the $350 million hack is very likely linked to North Korea, echoing a pattern seen across other exchange breaches this year. 

Around the same time, Magic Eden came under suspicion of an NFT security flaw after a white hat mover shifted 3,832 NFTs off the platform, a move typically done to protect assets before bad actors can grab them.

Meter's team posted a security update on X confirming its exploit began on September 23 at 21:14 UTC. An attacker used a block validation flaw to mint coins that weren't backed by real reserves, draining $2.3 million before the team caught it. 

Three separate incidents, three different chains, all in one 48-hour window, and investors are asking, why is crypto market up today?

Bitcoin And Altcoins Lead The Crypto Rally

Here's the twist. After dropping as low as $2.90 trillion on September 24, the crypto sector clawed back its losses and then some. As per CoinGecko, total trading volume over the last 24 hours stands at $107 billion, Bitcoin dominance holds at 57.3%, and Ethereum dominance sits at 11.1%.

Bitcoin price today jumped from $83,105.00 to $84,691.11, a 1.8% move that lifted its market cap to $1.701 trillion. Ethereum followed with a 2.5% gain to $2,708.78, carrying a $330.712 billion cap. XRP stood out with a 6.7% rally to $1.56, now valued at $97.922 billion.

Top Crypto Gainers Today

Reasons Why is Crypto Market Up Today

Crypto ETF inflows, new stablecoin rules, partnership news and whale buying maintained the confidence. 

Crypto ETF Inflows Keep Climbing

ETF money is doing a lot of the heavy lifting today. Per SoSoValue, spot Bitcoin ETFs pulled in $190.65 million, marking a sixth straight day of inflows. Spot Ethereum ETFs added $66.01 million, their fifth consecutive positive day. Spot XRP ETFs brought in $14.89 million, the third highest daily figure recorded this September. Solana ETFs weren't far behind either, adding $32.81 million today, their second best inflow day of the month. 

Four different crypto ETF categories posting gains on the same day is rare, and it tells you institutional money didn't flinch when the hack headlines broke. That kind of steady buying is a major contributor to why the crypto market is up today.

New Stablecoin Rules Calm Nervous Traders

The Federal Reserve proposed two new stablecoin rules under the GENIUS Act today. The first requires Board-supervised stablecoin issuers to fully back their tokens with safe reserve assets, such as short-term Treasury bills and other high-quality liquid assets. 

The second sets out a tailored process for Board-supervised banks that want to apply to issue their own stablecoins, requiring a business plan and financial disclosures. Uncertainty around regulation has kept some traders on the sidelines for months. A defined rulebook removes part of that hesitation, and it's a big reason confidence held up even after three separate hacks made headlines.

Ondo Finance And BlackRock Launch Onchain Portfolios

Ondo Finance partnered with BlackRock to launch three onchain investment portfolios built on strategies developed by BlackRock. The three products are BLKHIon (Ondo High Income), BLKDIGon (Ondo Diversified Growth) and BLKGRWon (Ondo High Growth), each delivered as a single transferable onchain token. 

For now, they're only available to eligible investors outside the US. This matters because it's one of the first times a major traditional asset manager's actual strategy has moved onchain in a tradable token format, rather than just a press release about "exploring" blockchain. That signal of real-world capital engaging with crypto infrastructure added weight to today's rally.

Whale Wallets Keep Buying HYPE

According to Lookonchain, wallet 0x6436, linked to Hyperliquid Strategies Inc, bought another 494,200 HYPE worth $45.8 million in the past 16 hours alone. Zoom out and that same wallet bought 5.51 million HYPE worth $476 million over the last month, averaging $15.86 million in daily buys. Hyperliquid Strategies now holds 35.1 million HYPE valued at $3.2 billion. 

Separately, Strive Asset Management launched a Bitcoin-backed preferred stock income ETF under ticker DCAP, pushing more liquidity into related tickers STRC and SATA. Consistent, large scale buying like this from a single entity is the kind of activity that quietly supports price even when the news cycle looks negative.

What's Next For The Crypto Market?

The mood isn't fully settled. Crypto Rover flagged a brewing global bond problem: the US 10-year yield hit 5.167%, a 19-year high, and the 30-year touched 5.45%, a 22-year high. Japan's 10-year yield reached 3.09%, its highest in 30 years, while Germany, France and Australia all posted multi-decade highs too.

Sharp bond yield spikes like these have historically lined up with recessions and stock market pullbacks, so today's bounce could still face pressure if bond markets stay stressed.

YMYL Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal or tax advice. Cryptocurrency prices are highly volatile and can change rapidly. Data referenced is sourced from CoinGecko, SoSoValue, the Federal Reserve, Ondo Finance and Lookonchain as of September 25. Always do your own research and consult a licensed financial advisor before making investment decisions.