Crypto market News Today, October 10: Cryptocurrency Bouncing Back, Bitcoin BTC Value Above $121K, Ethereum and XRP USD Steady as Powell’s Address Did Not Address Monetary Policy
Currently, the focus of trading market news is centered on recovery as traders analyze the latest remarks made by Jerome Powell. The main insight isn’t solely about what was expressed, but rather what was left unsaid. The lack of any mention of economic or monetary policy has provided a favorable environment for risk assets, including BTC, which has cautiously risen above $121,000 in the BTC USD pairing. At the same time, Ethereum and XRP exhibited stability, marking a rare period of tranquility among the leading altcoins.
BREAKING: Powell’s speech lacked reference to Monetary Policy
Crypto had no connection to this Thanksgiving address for Community Bankers pic.twitter.com/i9ahdRPwUT
— Crypto Industry (@JoinCryptoToday) October 9, 2025
Trading market participants were prepared for aggressive rhetoric. However, Powell’s address provided no fresh indicators, with no discussions on interest rates or tapering—just silence. This hush resulted in a modest recovery in the crypto space.
Such silence can convey significant meaning, especially when it comes from the Federal Reserve. By avoiding any direct remarks on policy, Powell effectively eliminated potential panic among traders. The value of BTC reacted accordingly, with BTC USD rising to $121K, an increase of 1% over the past 24 hours, following yesterday’s drastic downturn.
DISCOVER: Next 1000X Crypto – Here’s 10+ Crypto Tokens That Can Hit 1000x This Year
Most Crypto Update Headlines Today Signal Strength Despite Powell’s Quiet Speech: BTC BTC/USD Price Poised for a Strong Bounce?
ETH crept up to $4,350, registering no change. XRP posted a modest yet meaningful increase of 0.8% to $2.83 USD. Such recoveries come after a series of fluctuating weeks, as the trading market takes on an unclear direction.
Supporting this rebound, the total value locked (TVL) in DeFi remains robust at over $166 billion, a noteworthy recovery from prior weeks. Importantly, the market capitalization of stablecoins has grown by 0.9% over the past week, now totaling $303.7 billion. This influx of capital is a crucial factor to consider regarding future market behavior.
(source – Stablecoins Market Cap, CoinGecko)
On CoinGlass, liquidation rates have remained low, with funding rates slightly favorable across the perpetual contracts for BTC and ETH USD pairs. The trading market is tentatively adopting a bullish posture, despite the absence of vocal advocates on any crypto Twitter channels.
With Powell’s address lacking urgency, traders have found tranquility—perhaps a prelude to future price swings. Bitcoin’s trading market capitalization stands firm at $2.41 trillion; ETH is at $522.5 billion, with both assets showing promising price levels as we near previous all-time highs. Digital assets are demonstrating more resilience against macroeconomic disruptions compared to earlier periods.
(source – Trading market Cap, CoinGecko)
DEX trading volumes remain lively. DefiLlama reports over $24 billion in decentralized exchange activity over the past 24 hours. This indicates ongoing engagement, even if it’s subdued. Coupled with low volatility in perpetuals and a lack of significant liquidations, many participants appear to be positioning themselves strategically.
(source – Dex Volume, Defillama)
The pressing question now is whether Powell will maintain this quiet approach after his latest speech. Should he do so, BTC USD could have the potential to rise further, bringing ETH and XRP along as well. Until that point, this current phase of stability could be just what the crypto sector requires.
Today’s crypto announcement conveys a subtle narrative. Bitcoin prices are on the ascent. Powell’s address yielded no surprises. And overall, cryptos are on the mend.
DISCOVER: 16+ New and Upcoming Binance Listings in 2025
Join The 99Bitcoins News Discord Here For The Latest Crypto market Updates
Trump’s US Government Shutdown is Impacting Market: Will Crypto Recover?
The U.S. government shutdown has reached its 10th day under Donald Trump’s second term, stalling many government functions and unsettling the market. With Congress stuck over border safety and spending negotiations, investors are preparing for ongoing fluctuations.
While traditional markets are struggling, the prices of significant cryptocurrencies such as Bitcoin, Ethereum, and Litecoin have declined amid the instability, though analysts predict this downturn to be temporary.
The critical question traders are posing: when Washington reopens and ETF approvals restart, will crypto begin to rise again?
Read the full story here.
The post Market News Today, October 10: Crypto Recovering, BTC BTC Price Back Above $121K, Ethereum and XRP USD Stable as Powell Speech Failed to Mention Monetary Policy appeared first on 99Bitcoins.
