Calm Crypto Week Amid Hack and Binance Probe
The crypto market experienced a relatively calm week, despite a significant hack on Bitget, a Binance investigation, and new developments in the AI sector.
On September 21, Bitcoin surged above $85,000, leading to large-scale liquidations in the futures market, with a total volume of $746 million, and about $647 million from short positions.
According to CryptoQuant CEO Ki Young Ju, the new Bitcoin bull cycle is gaining momentum, but he expects potential growth of 3-5x, citing a larger market capitalization and increased institutional participation.
Ethereum moved in sync with Bitcoin, setting a new high since January 2026, and altcoins showed mixed dynamics, with XRP, Solana, and Hyperliquid experiencing growth.
European financial regulators warned that the development of quantum computers could threaten the cryptographic mechanisms underpinning financial infrastructure, blockchains, and crypto assets.