[LIVE] Crypto News Today, October 21 – Why Is Crypto Crashing? Bears Call Bitcoin Price To $97K, But For Now BTC Holds $108K Ahead Of US Federal Reserve Meeting – Best Crypto To Buy?
The crypto market is once again facing steep volatility, leaving traders on edge as over $321.76 million in leveraged positions were liquidated in the past 24 hours — $247.43 million in longs and $74.33 million in shorts. This renewed sell-off has sparked debate about where the bottom might form and which projects could emerge as the best crypto to buy during this downturn.
U.S. Federal Reserve is set to make key decisions on digital assets during its Payments Innovation Conference today, October 21. The event will focus on how blockchain and crypto can improve payment systems, efficiency, and security.
Governor Christopher J. Waller will lead discussions on digital integration in finance, joined by executives from BlackRock, Chainlink, and other firms. Topics include stablecoins, tokenization, and cross-border digital payments.
$107k area on a daily time frame is a pretty key area if we don’t want to see $90k. Could take a few weeks before it resolves.
Just don’t get bearish even if we visit $90k lol.$BTC pic.twitter.com/9x3s2mX50C
— VikingXBT (@VikingXBT) October 21, 2025
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Bitcoin Price Holds $108K As Bears Eye $97K
Bitcoin
1.44%
Bitcoin
BTC
Price
$108,211.27
1.44% /24h
Volume in 24h
$57.24B
Price 7d
dropped to around $107,000, while
Ethereum
0.29%
Ethereum
ETH
Price
$3,887.78
0.29% /24h
Volume in 24h
$31.30B
Price 7d
slid below $3,900. The decline follows a sharp rise in U.S. real yields and a stronger dollar, compounded by President Donald Trump’s newly announced 100% tariff on Chinese tech imports. The move rattled global markets and triggered a mass deleveraging across crypto.
Over $19 billion in leveraged positions were liquidated last week — the largest single-day event in crypto history. Analysts describe this phase as a necessary correction after Bitcoin’s run above $126,000 earlier in October. Institutional selling through spot Bitcoin and Ethereum ETFs added to the pressure, causing heavy outflows and liquidity drains.
The CoinMarketCap Fear & Greed Index has plunged to 33, signaling deep fear, while negative funding rates show traders betting on more downside. Still, some analysts expect recovery if ETF inflows resume and the Federal Reserve follows through with its expected rate cut later this month.
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Elon Musk Brings FLOKI Back To Life – Next Best Crypto To Buy?
While major assets bleed, FLOKI suddenly stole attention. Elon Musk posted an AI-generated Grok video captioned “Flōki is back on the job as X CEO!” — instantly reviving the meme coin’s momentum. FLOKI’s market cap jumped from $660 million to over $800 million, as traders spotted a double bottom pattern and bullish divergence on the daily RSI.
The community believes FLOKI might have formed a bottom after weeks of sideways action. Whether Musk continues his playful nods or not, FLOKI’s renewed hype makes it one of the best cryptos to watch for a short-term rebound in this volatile market.
SpaceX Moves $268 Million in Bitcoin After Three-Month Pause
According to @ai_9684xtpa, SpaceX has transferred $268 million worth of Bitcoin, its first major movement in three months. Roughly 1,187 BTC were sent to a bc1qq address and 1,208 BTC to a bc1qj7 address, both still inactive.
The previous July transfer was later identified by Arkham as linked to Coinbase Prime Custody, suggesting this latest transaction could be another internal wallet shuffle rather than a sale or market move.
The post [LIVE] Crypto News Today, October 21 – Why Is Crypto Crashing? Bears Call Bitcoin Price To $97K, But For Now BTC Holds $108K Ahead Of US Federal Reserve Meeting – Best Crypto To Buy? appeared first on 99Bitcoins.
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