[LIVE] Crypto News Today, October 8 – Why Is Crypto Going Down Today? Bitcoin Fell Below $121K and $500 Million in Longs Liquidated: Best Altcoins to Buy During This Dip?

The crypto market pulled back slightly today, with Bitcoin

Bitcoin
BTC

$121,507.73


2.00%

falling from its recent all-time high of $126,000 to around $121,200, before stabilizing near $121,553. The decline triggered widespread liquidations, totaling over $659 million across longs and shorts — with $500 million of that wiped from long positions in just 24 hours and now the question is: where to find the best altcoins to buy during this dip?

DISCOVER: Plasma (XPL) Crypto: Partners With Trust Wallet, Bottom Is In?

Ethereum

Ethereum
ETH

$4,457.95


4.64%

 also slid over 5%, trading below $4,500, while the overall crypto market capitalization dropped by more than 3% in the past day. Despite the selloff, not all coins suffered equally. Among top performers,

BNB
BNB

$1,306.28


3.50%

  jumped 8.8% to $1,356, now trading at $1306.

EXPLORE: Best Meme Coins To Buy

Best Altcoins To Buy? BNB Chain DEX Volume Surges to $6.05B Amid Meme Coin Boom

According to DeFiLlama, BNB Chain decentralized exchange (DEX) trading volume skyrocketed to $6.05 billion on October 7, marking its second-highest level of 2025. The surge was fueled by intense on-chain meme coin activity, with PancakeSwap dominating the scene and handling nearly $4.29 billion in 24-hour volume.

As Solana meme coins struggle, BSC-based projects are taking the spotlight. Coins like PALU, 4, BROCCOLI, CAT, and GIGGLE all posted double-digit gains over the last day, highlighting the growing momentum in the BNB Chain ecosystem.

Meanwhile, USELESS, one of the top 20 Solana meme coins, stood out as a rare gainer. The token surged over 35% in the past 24 hours, nearly reclaiming prior all-time highs. Chart watchers suggest a possible Wave 3 rally could be forming if momentum holds.

With Bitcoin cooling from record levels, this market dip could present opportunities for investors scanning for the best altcoins to buy before the next leg up.

Follow along for the latest crypto news, price action, and trending altcoins.