Crypto Market News Today, October 9: Why is Crypto Down Today? Bitcoin BTC and BNB USD Pairs Price Stay Green This Week, ETH and SOL Red, But XRP Brutally Dumping

[Redator]

Why is crypto down today? Today’s question is rattling investors, even as the Bitcoin price in BTC USD pairs holds “ok” weekly gains. At the same time BNB continues its surprising resilience against USD, while ETH and XRP are dragging the crypto market lower. The daily red candles for XRP are especially brutal, shedding momentum after a brief bullish stretch.

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This all while Bitcoin BTC $121,639.04 0.91% Bitcoin BTC Price $121,639.04 0.91% /24h Volume in 24h $49.75B Price 7d Buy with Best Wallet price is consolidating. But questions are growing about whether this is just a pause on the market, or the top is in.

Despite the panic over the question of why crypto is down today, BTC USD remains up 2.4% this week, even after a 1% daily pullback. Data shows over $700 million in liquidations in the last 24 hours, mostly from long positions. BNB, on the other hand, continues to defy gravity, rising 25% over the week as activity within the Binance ecosystem grows, backed by a rising USD TVL on the Binance Chain.

(source – BNB TVL, Defillama) 

On the downside, ETH USD is down 4.7%, hampered likely by the cooling of DeFi interest and fading excitement around Ethereum, with the Solana season that killed ETH activities to the BNB super cycle at the moment. Solana, following a similar trajectory, is down 4.6% after being outperformed by BNB BNB $1,286.09 2.50% BNB BNB Price $1,286.09 2.50% /24h Volume in 24h $4.74B Price 7d Buy with Best Wallet amid a weak Solana SOL $220.91 0.43% Solana SOL Price $220.91 0.43% /24h Volume in 24h $7.18B Price 7d Buy with Best Wallet memecoin market this week.

But it’s XRP that stands out for all the wrong reasons; it has dumped by 5.8% this week, trading at $2.80 USD. The drop is linked to lingering regulatory fears and reduced trading volume.

Still, the Bitcoin price in BTC USD pairs is holding firm, which shows today’s dump as a temporary correction, not the end of the bull cycle.

(source – Crypto Market Cap. CoinGecko) 

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XRP Dumps While BTC and BNB Hold Green VS USD: Why Crypto Down Today Still Echoes Across Markets as Bitcoin Price Sneeze

According to CoinGlass, funding rates for BTC USD remain positive at 0.01%, and open interest has already rebounded 1%, suggesting leveraged positions are re-entering after the flush-out. Why crypto is down today largely ties back to overextended longs and macro pressure, including concerns over US fiscal policy and its impact on risk assets.

(source – BTC USD Funding Rate, Coinglass)

Still, TVL across DeFi is at $169 billion, up 0.6% in 24 hours, a sign the ecosystem isn’t breaking. Corrections of this kind have wiped out nearly $109 billion in total crypto market cap, but historically, such pullbacks precede renewed rallies.

Weekly charts for BTC USD and BNB USD remain bullish, and while ETH USD and XRP USD face short-term pain, they could bounce faster than a Xiaomi SU7.

Why is crypto down today? It may come down to short-term fear, and not the end of this bull market cycle.

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Four Meme Records 2.6 Billion Dex Volume: Battle of Perpetual Dexes Against Coin Launchers

By Akiyama Felix

In the high-octane crypto arena of 2025, Four Meme Crypto has broken records. Over a recent 24-hour period, the launchpad registered nearly $ 1Bn in trading volume and a cumulative volume of $ 2.6Bn. Handled 35,700+ new token launches, and pulled in $1.47M in revenue, all while outpacing legacy rivals like Pump.fun.

Its native token FORM spiked over 326% in short timeframes, riding the hype wave on BNB Smart Chain. Meanwhile, perpetual DEXes like Aster and Hyperliquid continue to dominate leveraged trading, with monthly volumes in the trillions.

This clash between coin launchers and perp platforms is reshaping how traders allocate liquidity in the crypto market. Also, it raises a provocative question: which model will win the narrative (and capital) next?

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Read the full story here.

The post Crypto Market News Today, October 9: Why is Crypto Down Today? Bitcoin BTC and BNB USD Pairs Price Stay Green This Week, ETH and SOL Red, But XRP Brutally Dumping appeared first on 99Bitcoins.