Crypto Market News Today, October 10: Crypto Recovering, Bitcoin BTC Price Back Above $121K, ETH and XRP USD Stable as Powell Speech Failed to Mention Monetary Policy
Today, the crypto market news revolves around market recovery as traders dissect Jerome Powell’s latest speech. The key takeaway is not what was said, but what wasn’t. The absence of any reference to economic or monetary policy left the door wide open for risk assets to breathe. That includes Bitcoin, whose price in BTC USD pair moved cautiously back above $121,000. Meanwhile, ETH and XRP remained stable as USD stablecoin, a rare moment of calm across the top alts.
BREAKING: No mention of Monetary Policy in Powell’s speech
Crypto has nothing to do with this Thanksgiving speech for Community Bankers pic.twitter.com/i9ahdRPwUT
— Crypto Industry (@JoinCryptoToday) October 9, 2025
Markets were braced for hawkish language. Instead, Powell’s speech offered no new signals. No word on rates, no taper talk, just quiet. That silence landed with crypto recovering a slight bit.
Silence can speak volumes, especially when it comes from the Fed. By sidestepping any direct commentary on policy, Powell effectively gave traders nothing to panic about. The Bitcoin price responded in kind. BTC USD climbed, reaching $121K, up by 1% in 24 hours, after yesterday’s bloodbath.
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ETH moved to $4,350, posting a 0% movement. XRP with a modest but telling 0.8% climb to $2.83 USD. These recoveries come after weeks of chop as the crypto market paints an abstract direction.
Supporting the bounce, DeFi total value locked (TVL) sits strong at above $166 billion, actually a good climb from weeks ago. More importantly, the stablecoin market cap nudged up 0.9% over the last seven days, now sitting at $303.7 billion. Capital is moving in, a metric that should be taken into consideration in how the market will behave next.
(source – Stablecoins Market Cap, CoinGecko)
On CoinGlass, liquidations remained tame, and funding rates stayed slightly positive across BTC and ETH USD pairs’ perpetuals. Market cautiously leaning bullish, even with no one shouting it in any CT(crypto twitter) account.
With Powell speech offering no fire, traders found calm, maybe a calm before the storm. Bitcoin’s market cap is holding at $2.41 trillion; ETH sits at $522.5 billion, and price points on both are not looking bad at all as we are closer to an all-time high than where we were months ago. Digital assets are more resilient to macroeconomic noise than they were before.
(source – Crypto Market Cap, CoinGecko)
DEX volume remains active. DefiLlama shows over $24 billion in 24-hour decentralized exchange flow. It is an activity, even if quiet. Pair that with low volatility in perpetuals and a lack of major liquidations, with many just positioning.
(source – Dex Volume, Defillama)
The big question now is whether Powell keeps that quiet stance after last night’s speech. If he does, BTC USD has a chance to break higher, dragging ETH and XRP along for the ride. Until then, this moment of stability might be exactly what crypto needs.
Crypto news today tells a subtle story. The Bitcoin price is rising. Powell speech offered no shocks. And across the board, crypto is recovering.
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Trump’s US Government Shutdown is Killing Market: Will Crypto Go Back Up Again?
The U.S. government shutdown has entered its 10th day under Donald Trump’s second term, freezing much of Washington and rattling the crypto market. With Congress gridlocked over border security and spending bills, investors are bracing for continued volatility.
While traditional markets reel, the crypto price of key assets like Bitcoin, Ethereum, and Litecoin has dipped amid uncertainty, though analysts believe the sell-off is temporary.
The real question traders are asking now: once Washington reopens and ETF approvals resume, will crypto go back up again?
Read the full story here.
The post Crypto Market News Today, October 10: Crypto Recovering, Bitcoin BTC Price Back Above $121K, ETH and XRP USD Stable as Powell Speech Failed to Mention Monetary Policy appeared first on 99Bitcoins.
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