Why is Crypto Market Up Today: Who’s Behind BTC, ETH, XRP Price Rally? Traders woke up on September 18 expecting red charts. Two of the world's biggest central banks had just raised interest
Why is Crypto Market Up Today: Who’s Behind BTC, ETH, XRP Price Rally?
Traders woke up on September 18 expecting red charts. Two of the world's biggest central banks had just raised interest rates, and higher rates usually push investors away from risky assets like crypto. Instead, portfolios turned green almost everywhere.
So why is crypto market up today when the Bank of Japan and the Federal Reserve are both tightening policy? The short answer: ETF inflows, whale trading moves, and fresh regulatory news gave traders more reasons to buy than to sell.
Key Takeaways
The global crypto market cap sits at $2.76 trillion, up 2.0% in 24 hours, even after back-to-back rate hikes from Japan and the US.
Bitcoin trades at $78,141.90 and XRP at $1.33, while Hyperliquid and Zcash both touched new highs today.
Bitcoin ETFs pulled in $159.45 million on September 17, and whales moved over $45 million from Bitcoin into Ethereum in just three days.
On September 18, the Bank of Japan raised its policy rate by 25 basis points, from 1.0% to 1.25%. That's its highest level in about 31 years, and the decision passed on a 7-2 vote.
Two days earlier, on September 16, the Federal Reserve also raised its rate by 25 basis points, moving it to a 3.75%-4.00% range.
Higher rates from major central banks often pull money out of risk assets, but crypto shrugged this one off. Coingecko data shows the total crypto value at $2.76 trillion, a 2.0% jump in a day. Daily trading volume hit $89.6 billion, Bitcoin holds 56.8% dominance, and Ethereum holds 11.1%.
Bitcoin price today sits at $78,141.90, a 2.4% surge that pushed its value to $1.57 trillion. Ethereum price today follows close behind at $2,507.18, up 2.9%, valued at $306.038 billion.
XRP news today centers on a fresh breakout too after Ledger support to an open wallet. XRP trades at $1.33 after a 3.0% intraday surge, valued at $83.839 billion. These three coins are doing most of the heavy lifting behind today's rally.
Coingecko data lists three standout names answering the question: Why is crypto market up today?
Coin
Price
24h Volume
Surge
Orbio (ORBIO)
$0.05342
$4,156,811
84.4%
Mushroom (SHROOM)
$0.01779
$4,671,916
69.9%
GreenHood (HOOD)
$0.09049
$25,354,822
76.0%
Orbio led the pack with an 84.4% jump on $4.15 million in trades. GreenHood followed with a 76.0% climb on the heaviest volume of the three, $25.35 million. Mushroom rounded out the list, up 69.9% on $4.67 million in volume.
Not every trader had a good day. Coinglass data shows 87,447 traders got liquidated in the past 24 hours, wiping out $303.90 million. Short sellers took the bigger hit at $248.40 million, compared to $55.90 million on the long side. The single largest order hit on Hyperliquid, an $8.53 million BTC-USD position. The full 24-hour rekt figure landed at $304.30 million.
Bitcoin ETFs added $159.45 million in net inflows on September 17, pushing their cumulative total to $54.73 billion, per SoSoValue data. Zcash ETFs are having a moment of their own too, pulling in $46.56 million daily and $233.28 million cumulative as of the same date.
These crypto ETF flows show real capital backing the move, not just short-term speculation.
Wu Blockchain reports that the SEC handed tokenized stock platforms a major win. SEC Chairman Paul Atkins said the regulator is giving eligible tokenized securities platforms and some liquidity providers five years of conditional regulatory relief.
Source: Official Website
The relief has limits: synthetic stocks are excluded, public companies can refuse to have their shares tokenized, and token holders keep normal shareholder rights, including dividends and voting.
Lookonchain data points to a clear shift among large holders. Over three days, 11 newly created wallets, likely tied to one whale, sold 602 BTC worth $45.83 million on Hyperliquid and bought 18,780 ETH for the same amount.
Source: Lookonchain Data
Separately, a wallet tagged 0x72e0 deposited 440,000 HYPE tokens worth $36 million into FalconX 11 hours ago, then withdrew 12,250 ETH worth $30.12 million. Both moves suggest big holders see more short-term upside in Ethereum.
Circle's Arc chain went live and logged $410.8 million in DEX volume on its first day, while processing 7.76 million transactions. Memecoin launchpads alone generated $336.3 million, about 82% of total volume. Arguspad.io contributed $202.35 million while deploying more than 83,000 tokens, and non-launchpad DEXs handled the remaining $74.6 million.
Coinbase announced a partnership with Stablecore to bring digital asset custody, trading, and stablecoin payments to community and regional banks and credit unions.
Source: Coinbase Official
Stablecore's infrastructure already connects with core banking and compliance systems at more than 3,000 US institutions, while Coinbase supplies the regulated digital asset backend.
Hyperliquid price and Zcash are leading the charge into new territory. Hyperliquid hit a fresh all-time high of $90.92 today and now trades at $90.38, up 13.5%, valued at $20.117 billion.
Zcash is up more than 11%, trading at $1,485.45 and valued at $25.143 billion, after touching a monthly high of $1,512 today. Momentum like this suggests confidence keeps building even as central banks stay in tightening mode.
Why is crypto market up today? Today's rally breaks the usual playbook. Rate hikes from the BoJ and Fed didn't scare traders away. ETF inflows, whale buying, tokenized stock rules, and Arc's mainnet launch gave the market real reasons to climb, even with liquidations running hot.
YMYL Disclaimer: This piece reports market data and news for informational purposes only. It isn't financial advice. Cryptocurrency prices are highly volatile, and past performance doesn't guarantee future results. Always do your own research and speak with a licensed financial advisor before making investment decisions.
