In the crypto world today, the market news is quite depressing to read. Crypto is down across the board after a much-anticipated Trump announcement turned out to be unrelated to crypto or financial policy. Instead, it focused on IVF access, leaving those who expected a catalyst disappointed. The result has BTC USD dropped below $106,000, triggering a big wave of liquidations and another market panic.
Markets are reacting swiftly with
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Bitcoin
1.51%
Bitcoin
BTC
Price
$106,657.38
1.51% /24h
Volume in 24h
$86.04B
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slipped 4,6% to $105,800, while
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Ethereum
2.14%
Ethereum
ETH
Price
$3,846.52
2.14% /24h
Volume in 24h
$47.22B
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fell 6% to $3,750.
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Solana
2.59%
Solana
SOL
Price
$182.38
2.59% /24h
Volume in 24h
$9.72B
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and
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XRP
2.21%
XRP
XRP
Price
$2.30
2.21% /24h
Volume in 24h
$6.92B
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saw even sharper losses at 7%. However, data shows that the total value locked (TVL) across DeFi ecosystems has only dropped by less than 2% in 24 hours to $151.67 billion.
(source – DeFi TVL, DefiLLama)
DISCOVER: 9+ Best Memecoin to Buy in 2025
Trump Announcement Fallout: Insider Wallets & Why Crypto Is Down
Despite the Trump announcement not mentioning crypto, it still sent mojos through the market. Expectations were high, especially after an insider wallet, previously known for shorting during key dips, went long right before the announcement. That led many to assume big news was coming for crypto. When it didn’t materialize, crypto is down even harder.
The same wallet that shorted the market immediately before the biggest crypto crash ever…
is now longing the market. pic.twitter.com/ISMT91yXIy
— bunny
(@DaBunnyOFFICIAL) October 16, 2025
The wallet in question had profited earlier in October by betting against BTC USD. But this time, its long position misfired, leading to almost $1 billion in long liquidations. As traders followed that move, a reversal led to panic selling.
(source – Liquidation, CoinGlass)
Eric Trump added another twist to the news today by claiming the Trump family earned over $1 billion from crypto-related ventures until today. While not part of the official Trump announcement, the claim has stirred speculation about the family’s deeper involvement and whether future endorsements are coming.
JUST IN:
Eric Trump says the Trump family has made more than $1 billion from crypto, FT reports.
— Watcher.Guru (@WatcherGuru) October 16, 2025
DISCOVER: 10+ Next Crypto to 100X In 2025
BTC USD Outlook: Is This a Shakeout Before a Rebound?
With crypto is down and BTC USD struggling to hold support above $105,000, some analysts see this as a temporary setback. DefiLlama reports that decentralized exchange (DEX) volumes are up nearly 30% week-over-week. Perpetuals are also hot, with weekly trading volumes at $262.62 billion, up 8.99%.
TAO, which held steady during previous corrections, finally buckled—dropping from above $400 to $350. Still, some market participants point to this as a healthy correction. Data hints at continued interest under the surface.
The Trump announcement, though not market-focused, reminded investors of how much influence politics can have over crypto sentiment. If Trump leans back into crypto in future remarks, BTC USD could find the fuel it needs to rally again. Eric Trump’s billion-dollar revelation also only adds weight to that theory.
Crypto news today is full of questions. Will BTC USD recover to $120,000? Will October end on an “Uptober” high? Is the insider wallet’s failed long a warning—or a bottom signal?
For now, what’s clear is this: crypto is down, but the game is far from over.
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Traders Angry as Trump Targets Crypto Industry to Foot Bill For New Whitehouse Ballroom Amid Market Crash
After just announcing that his family has made $1Bn from various crypto ventures, US President Donald Trump hosted a dinner at the White House for companies that pledged funds toward the construction of a new $250M ballroom. Interestingly, attendees included senior executives from crypto firms such as Gemini, Coinbase, and Ripple.
The dinner was reportedly part of a fundraising effort to finance the 90,000-square-foot expansion, which Trump first proposed in the Summer. Among those present were Cameron and Tyler Winklevoss, co-founders of Gemini Exchange, along with representatives from Coinbase Global and Ripple Labs.
Trump Invites Top Donors to White House Gala: Crypto Giant @Ripple Among the Guests at $250M Ballroom Celebration
#Trump #Crypto https://t.co/NEmJSvRCi3 pic.twitter.com/gAncVFFqEL
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 16, 2025
Read the original piece here.
Still Holding Crypto? What To Do Next After the Big Crypto Sell Off? More Red Coming?
The recent crypto sell off rattled everyone. Bitcoin fell from around $126,000 ATH down to under $105,000, dragging Ethereum below $3,700, and BNB, although it pumped to above $1,300, is dumping by 17% today. This volatility is scary, but it also opens a buying opportunity.
The total crypto market cap now sits near $3.87 trillion, with 24h trading volume around $217 billion. Bitcoin dominance holds almost 60%, going up, suppressing alts. This crypto sell off may look brutal now, but past cycles suggest rebounds often follow.
(source – BTC.D, TradingView)
Read the full story here.
Battered Solana Market Goes All in On ZEREBRO: Now USELESS is Dead is ZEREBRO Best Solana Meme Coins to Buy?
Are ZEREBRO and USELESS emerging as the best Solana meme coins to buy right now? After Solana’s meme scene took a brutal beating, many OG memers swore, “Solana memes are dead”. The total Solana meme market cap now hovers around $9Bn, dragged down by weak sentiment, fading hype, and chains like BNB stealing the spotlight.
But that’s where ZEREBRO enters, mixing AI-driven content + meme narrative, and among the rubble, it’s one of the few still flashing green. In a battered ecosystem, ZEREBRO may be the haven Solana degens gravitate toward. Let’s break it down.
Read the full story here.
Texas Firm Battles Bulgarian Police Over $44M USDT Freeze: Are Stablecoin Geopolitics the Next Frontier of Diplomacy?
Texas’s battle with Bulgaria is more than a headline; it’s a flashpoint in the evolving world of stablecoin crypto diplomacy. When Tether froze $44.7M in SDT at the behest of Bulgarian police, alleging illicit activity, Riverstone Consultancy (a Texas-based firm) responded with a U.S. lawsuit claiming procedural violation and loss of opportunities.
The case puts stablecoin issuers, law enforcement, and cross-border jurisdictions into direct conflict, and it could reshape how global stablecoin freezes are handled going forward.
Read the full story here.
The post Crypto News Today, October 17: Crypto Is Down, Trump Announcement Has Nothing To Do With The Market, BTC USD Falls Below $106K appeared first on 99Bitcoins.
