Why is Digital currency Declining Today? $630 Million Liquidated as Bitcoin Stays at $120K and Solana Aims for MAJOR Breakthrough
Why is Crypto Experiencing a Decline Today? The crypto asset crypto market has just undergone its steepest liquidation wave this October, catching highly leveraged bulls unprepared. There’s peace in the Middle East, anon. All safe-haven assets are expected to plummet by 80 percent, while speculative leveraged investments may surge by 100x.
Or might they?
As of October 9, more than $630 million in positions were liquidated, according to Coinglass data, with over 81% of those being long positions.
Bitcoin
6.21%
Bitcoin
Bitcoin
Price
$112,324.27
6.21% /24h
Volume in 24h
$178.65B
Price 7d
Learn more
dropped about 2%, while
Ethereum
9.19%
Ethereum
Ethereum
Price
$3,819.86
9.19% /24h
Volume in 24h
$95.81B
Price 7d
Learn more
, BNB, and XRP each saw a decline of approximately 4%.
Could you all keep the crash to yourselves and spare the rest of the market from diminishing returns? Here’s an update on BTC and Alt-Season:
EXPLORE: Top 20 Crypto to Buy in 2025
What’s Causing the Decline in Crypto Today? Market Pullback Wipes Out $200 Billion in Value
Crypto Fear and Greed Chart
1y
1m
1w
24h
This 2025 Altseason has seen BNB and XRP slightly outpacing others, squeezing additional value from the alternative coin trading market.
Things look bleak. After hitting a ledger total market cap of $4.27 trillion earlier this week, nearly $200 billion has vanished, reverting valuations back to mid-September figures. BTC is still holding steady above $120,000, up around 8% for the month, while Ethereum stays just below $4,500 as traders take profits.
Making money in crypto in 2025pic.twitter.com/lq8J3VyB7z
— Prince (@PetitPrinceETH) October 9, 2025
The price drop isn’t a riddle but a result of macro factors. A mix of Fed uncertainties, dwindling market fluidity, and straightforward profit-taking, all occurring simultaneously, has drained trading market available volume (excluding Zcash, BNB, and a handful of others).
The sell-off was also aligned with renewed apprehensions from the Federal Reserve regarding inflation.
“The FOMC should be cautious about policy adjustments so that we can gather further data,” Barr noted, indicating that the Fed is not ready to declare victory over inflation.
Bond markets mirrored this caution. 10-year Treasury yields stayed around 4.13%, while 30-year notes lingered at approximately 4.72%, both seeing minimal movement from previous week’s auctions.
Mid-cap assets like Aptos (APT) and Sui (SUI) fell between 3–6% as leveraged traders abandoned their positions. However, data from DeFi Llama suggests that the total value locked (TVL) across DeFi protocols remains close to $166 billion, indicating that overall long-term confidence is intact.
EXPLORE: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025
Altcoins Under Pressure as Traders Reset: What’s Next?
Analysts at 99Bitcoins observe that, despite the pullback, the market structure remains widely uptrend. The correction seems more like a leverage cleanse than the beginning of a new pessimistic.
Amid the widespread declines,
Price
/24h
Volume in 24h
Price 7d
Learn more
is demonstrating one of the most robust technical setups of any major asset. The coin seems to be creating a classic “cup and handle” pattern on its monthly chart.
With growing speculation surrounding a potential Solana ETF approval, SOL’s promising structure might signal a upward movement for traders gearing up for Q4.
EXPLORE: 20+ Next Crypto to Explode in 2025
Macro Factors Continue to Favor Risk in the Long Run
Even with the recent shakeout, the fundamentals remain strong for digital assets. Available volume metrics sourced from the Federal Reserve’s FRED database indicate a global money supply growth of nearly 8% year-over-year, and institutional inflows into spot BTC ETFs keep rising.
For now, Bitcoin’s position above $120,000 remains a critical threshold; if it sustains this level, bullish sentiment might return quickly.
DISCOVER: Binance Japan Banks On PayPay’s Platform Effect For Smoother Crypto Payments
Join The 99Bitcoins Announcement Discord Here For The Latest Market Updates
Key Takeaways
- The cryptocurrency trading market has recently experienced its most intense liquidation wave of October, catching highly leveraged bulls by surprise.
- Mid-cap projects like Aptos (APT) and Sui (SUI) saw declines of 3–6% as leveraged traders exited their positions.
The article Why is Crypto Down Today? $630 Million Liquidated as BTC Holds $120K and Solana Eyes HUGE Price breakout first appeared on 99Bitcoins.
