Why Is Crypto Down Today? – September 25, 2025

The global crypto market is in the red again, falling 2.2% over the past 24 hours to $3.91 trillion, according to the latest market data. Total crypto trading volume is up slightly at $178.5 billion, but price action remains largely negative across major assets.

Crypto Winners & Losers

At the time of writing, nine of the top 10 cryptocurrencies by market cap are posting daily losses.

Bitcoin (BTC) is trading at $111,488, down 1.4% on the day and 3.6% over the past week.

Ethereum (ETH) is down 4.2% in 24 hours to $4,006.79, one of the steeper drops among top coins.

Solana (SOL) leads the losses, dropping 5.2% on the day and over 8% on the week, now priced at $201.23.

Dogecoin (DOGE) also saw a sharp decline, falling 4.9% to $0.2312.

BNB (BNB) is the only major coin showing green, barely up 0.1% to $987.30, despite a 7-day decline of nearly 3%.

Among trending tokens, Aster is down 12.4%, while Undeads Games and Hyperliquid have also slipped.

On the upside, APEX leads the day’s top gainers with an 80.4% surge, followed by PunkStrategy (+32.5%) and Concordium (+8.9%).

Despite isolated gains among small caps, the broader market remains under pressure as major assets retrace gains made earlier this month. Traders are watching for signs of stabilization or deeper corrections as macro and regulatory factors weigh on sentiment.

Meanwhile, Ethereum’s dip below $4,000 triggered a massive liquidation, with wallet 0xa523 losing their entire 9,152 ETH long position worth $36.4 million. The wipeout brings their total losses to over $45.3 million, leaving the account with less than $500,000 remaining.

Trump’s West Bank Pledge Eases Middle East Risk, BTC Eyes Key Levels

Bitunix analysts say market sentiment stabilized briefly after former US President Donald Trump reportedly assured Arab leaders at the UN General Assembly that he would block any Israeli annexation of the West Bank.

The move is being interpreted as a temporary geopolitical de-escalation, described as a “red light” to Israel, and arrives amid renewed calls for Palestinian state recognition.

While the easing Middle East tension lifted short-term risk appetite, Bitunix analysts caution that macro attention remains locked on the US Federal Reserve’s policy path and upcoming labor data.

In crypto, BTC is consolidating between $111,000–$113,000, with downside risk if the $109,000–$107,000 support band fails.

On the upside, the $118,000–$122,000 resistance zone holds concentrated short positions, making a breakout above it key to regaining bullish momentum.

Levels & Events to Watch Next

Bitcoin (BTC) is trading at $111,401 at the time of writing, down 1.71% over the past 24 hours. The asset has lost momentum after failing to break past $115,000 and is now approaching a critical short-term support zone.

If BTC drops below $111,000, downside targets sit at $109,000 and $107,000, which could trigger further long liquidations.

On the upside, any bounce toward $114,000 will face resistance, with a breakout above $118,000 needed to reclaim bullish structure.

Meanwhile, Ethereum (ETH) is under heavier pressure, falling 3.67% to $4,001.57. ETH briefly held the psychological $4,000 mark before slipping below during midday trading.

If the drop continues, the next key supports lie at $3,950 and $3,800. On the upside, recovery targets include $4,150 and the $4,300–$4,400 resistance band. A sustained close above $4,400 would be required to regain upward momentum.

Meanwhile, market sentiment has slightly improved but remains cautious. The CMC Crypto Fear and Greed Index is now at 41, up from 39 yesterday, though still well below last week’s reading of 51. While technically in the “neutral” range, the index has been hovering near the “fear” zone for several days.

This modest rebound suggests traders are still uncertain, weighing geopolitical shifts and macroeconomic headwinds. With BTC and ETH trading near key support levels, the market appears to be waiting for clearer signals before committing to new positions.

The US Bitcoin spot ETFs recorded a net inflow of $241 million on September 24, continuing their rebound after previous outflows. The cumulative net inflow has now climbed to $57.49 billion, while total assets under management rose to $149.74 billion, representing 6.62% of Bitcoin’s market cap.

BlackRock’s IBIT led with $128.90 million in net inflows, followed by ARKB with $37.72 million and FBTC with $29.70 million.

Grayscale’s BTC fund also saw $13.56 million in fresh capital, while Bitwise’s BITB added $24.69 million. GBTC remained flat with zero inflow. IBIT dominated trading activity with $2 billion in volume, underscoring continued investor interest.

The US Ethereum spot ETFs recorded a net outflow of $79.36 million on September 24, marking another day of weakened investor sentiment. Despite the retreat, cumulative inflows across all ETH ETFs still total $13.62 billion, while total assets under management stand at $27.42 billion—representing 5.45% of Ethereum’s market cap.

Fidelity’s FETH led the outflows with $33.26 million in redemptions, followed by BlackRock’s ETHA, which saw $26.47 million leave the fund.

Bitwise’s ETHW lost $4.48 million, while 21Shares’ TETH recorded $6.24 million in outflows. Only Grayscale’s ETH and Invesco’s QETH ended the day unchanged, with no new inflows or outflows reported.

Meanwhile, nine major European banks, including ING, UniCredit, Danske Bank, and CaixaBank, have joined forces to launch a euro-backed stablecoin by the second half of 2026.

The initiative, based in the Netherlands and seeking licensing from the Dutch Central Bank, will operate under the EU’s MiCA regulatory framework and aims to offer an alternative to U.S.-dominated stablecoin markets.

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