This is a very strange and skeptical bull market. On your argument that an exchange being hacked has not have an effect on the market, we have witnessed this recently on Bybit! The Lazarus Group from North Korea has stolen $1.5 billion of ether from this exchange and the market did not dump or panic on the news. Similar to my argument with the type of good news presently being announced by the Trump administration would pump the market during 2017 and 2021, the hack on Bybit would have very much dumped the cryptospace market during 2017 and 2021. This is very headshaking, I reckon.
We have a weird market these days, I wouldn't call it bull anymore. The actual bull market lasted 3-4 months when $70k was broken but then the recession did its job by suppressing it once again otherwise the momentum could have taken us a lot higher.
As for Bybit you have to remember that it was an altcoin exchange they hacked and a shitcoin they stole so if anything it should have dumped that shitcoin's price (I didn't check if it did) not bitcoin's price.