Why Is Crypto Down Today? – June 17, 2025

The crypto market today took another turn into red territory. Just 10 of the top 100 coins have recorded increases over the past 24 hours. Moreover, the cryptocurrency market capitalization has decreased by 2.1% to $3.45 trillion. The total crypto trading volume is at $118 billion, up from $76.7 billion seen yesterday.

Crypto Winners & Losers

Looking at the top 10 coins per market cap, we find that four have increased and four have decreased over the past 24 hours (not taking the two stablecoins into account).

Bitcoin (BTC) is green but unchanged in this timeframe. It’s up only 0.1%, trading at $106,856.

Ethereum (ETH) has decreased by 1.7%, changing hands at $2,584 at the time of writing.

The highest gainer is Tron (TRX), with a rise of 2.5% to the price of $0.277. At the same time, the highest decrease in this category is Solana (SOL)’s and Dogecoin (DOGE)’s 2.4% each to $153 and $0.1739, respectively.

Moreover, only 10 of the top 100 coins have increased today. WhiteBIT Coin (WBT) is the day’s best performer, seeing an increase of 29.7% to $51.62. The rest are up 4.4% and less per coin.

SPX6900 (SPX)’s drop of 13.1% is the highest in this category, currently trading at $1.44.

Speaking of Tron, the chain is reportedly planning to go public in the US via a merger with Nasdaq-listed SRM Entertainment. The chain’s founder Justin Sun has formed a notable relationship with the Trump family – a fact that has caused controversies and ethical concerns.

Eric Trump, son of US President Donald Trump, was supposedly meant to assume a leadership position within the company. Eric Trump also holds an advisory position at Dominari Securities, the firm handling the deal. Despite all that, Eric Trump denied all reports linking him to Tron’s planned Nasdaq listing.

Meanwhile, the digital asset space is heating up with TradFi giants showing rising interest in stablecoins. JPMorgan filed a trademark application for “JPMD”. It described a range of blockchain and digital currency functions to potentially expand into crypto payments and asset settlement. This has reignited speculation about a novel, possibly retail-focused bank-backed stablecoin.

Why is Crypto Down Today: ‘Bitcoin Holds Firm’

Chloe Zheng, an HTX Research analyst, commented that Israel’s attack on Iran influenced the crypto market, but “Bitcoin held firm.” While it initially saw a relatively minor drop, it “quickly rebounded.” The $100,000 level remains a widely recognized psychological support level, Zheng says, but BTC is holding around the $107,000 level.

Moreover, per onchain data, over $1.1 billion in long positions have been liquidated since 13 June across crypto markets. BTC accounted for more than 40% of that amount.

Zheng further noted that “options market continues to signal strong bullish sentiment.” Bitcoin options open interest jumped to a record $42.5 billion, with June and July calls at $110,000 and $120,000, respectively. Total call premiums are at $70 million, “overwhelmingly” exceeding puts at $15 million, “with a put/call ratio near 0.21—underscoring extreme optimism.”

All that said, markets are now focused on the upcoming US Federal Reserve policy meeting. “Most expect Fed Chair Jerome Powell to avoid any major pivot and instead reiterate a ‘wait-and-see’ approach grounded in data dependency,” Zheng argues.

Additionally, the recent surge in oil prices, prompted by Middle East tensions, could fuel inflation concerns. However, May’s CPI and PPI data indicate core inflation “remains relatively tame. This macro disconnect between data and sentiment is fueling policy uncertainty.”

Levels & Events to Watch Next

At the time of writing, BTC trades at $106,856. This is a pullback from the intraday high of $108,785, as the coin failed to hold this level despite several attempts. The resistance levels now stand at $108,951 and $110,406. If the coin breaks through these zones, it may start breaking new ATHs.

The first support level to keep an eye on is $106,196, followed by $104,633, and then $103,132.

At the same time, Ethereum, currently trading at $2,584. This is a pullback from the intraday high of $2,672, and it’s an increase from the intraday low of $2,537. The coin is now attempting to retake and hold the $2,610 level, followed by $2,670.

Furthermore, the crypto market sentiment has gone up, returning to the level seen at the end of last week. Moving within the neutral zone, the Fear and Greed Index climbed from 50 to 54 today toward the green area.

According to Chloe Zheng, the Fear & Greed Index indicates that “the market has yet to fully transition into a risk-off stance.”

Meanwhile, on Monday, US BTC spot exchange-traded funds (ETFs) saw another day of net inflows, taking in $408.59 million. Of this amount, BlackRock is responsible for $266.6 million.

After breaking their 19-day inflow streak, US ETH spot ETFs recorded net inflows of $21.39 million on Monday. Grayscale took in $16.08 million, and Fidelity $5.31 million.

Notably, Glassnode reported that US Spot ETH ETFs saw the third-largest weekly net inflow last week.

Meanwhile, Zheng suggested that market participants will be keeping an eye on the US Federal Reserve policy meeting this Wednesday, as well as the events in the Middle East. The progress of both of these could have an effect on the crypto market as well.

Quick FAQ

While the crypto market dropped over the last 24 hours, the stock market increased by the closing time on Monday. The S&P 500 increased by 0.94%, the Nasdaq-100 went up by 1.42%, and the Dow Jones Industrial Average rose by 0.75%. The stock market has recovered from losses in the previous session, following Israel’s attack on Iran. It’s still paying close attention to it.

This crypto market dip is likely another typical, short-term pullback. However, there are massive geopolitical and macroeconomic events currently developing, which are bound to influence the crypto market as well. In which direction, it remains to be seen.

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