Why Is Crypto Down Today? – June 13, 2025

Crypto saw a notable drop today. 98 of the top 100 coins have recorded decreases over the past 24 hours. The cryptocurrency market capitalization has dropped by 6.1% to $3.38 trillion. The total crypto trading volume is at $168 billion, the highest it’s been in days.

Crypto Winners & Losers

Continuing a decline that started yesterday, all top 10 coins per market cap have seen their prices drop over the past 24 hours.

Bitcoin (BTC) fell by another 2.7% to the current price of $104,694.

Ethereum (ETH) recorded the second-highest fall on the list of 7.9% to the price of $2,529.

The top loss is Solana (SOL)’s 8.7%, which now trades at $145.

At the same time, the smallest decrease is Tron (TRX)’s 0.5% to the price of $0.2738.

Moreover, only two of the top 100 coins have appreciated today. WhiteBIT Coin (WBT) is up 3.3% to $33.58, while LEO Token (LEO) increased by 2% to the price of $9.05.

On the other hand, sixteen coins saw double-digit decreases. The highest among these is SPX6900 (SPX)’s 18.6%, currently trading at $1.38.

Ruslan Lienkha, chief of markets at YouHodler, highlighted that financial markets are hesitant, despite a mildly positive inflation print in the US and consumer prices rising slightly less than expected.

“Ongoing geopolitical tensions and renewed tariff rhetoric from Donald Trump continue to weigh on investor sentiment, preventing a clear upward breakout,” Lienkha says.

A Short-Term Correction May Be Underway

James Toledano, Chief Operating Officer at Unity Wallet, commented that we can’t say what is exactly happening at the moment.

“Bitcoin seemed as if it were heading for a new all-time high before retreating,” he writes. “It is truly hard to know if a single factor or a confluence of factors is at play here.”

Institutional inflows have been supporting the recent rally, and with BTC hovering just below its May peak, “another all-time high seems realistic if these trends persist.”

Moreover, Ruslan Lienkha argues that BTC appears to be entering a consolidation phase. “From a technical standpoint, the asset has formed a potential double top on the chart, suggesting a short-term correction may be underway.”

The coin has spent most of the year trading within the $90,000–$110,000 range, which may serve as a key support and accumulation zone before a new attempt at an ATH.

Meanwhile, altcoins are showing signs of divergence, Lienkha says. ETH, SOL, and XRP have been trading sideways and remain significantly below their previous ATHs. “This subdued performance also reflects a declining short-term correlation with Bitcoin.” However, speculations around a forthcoming Solana ETF approval “translate into fresh capital inflows” for this coin.

Levels & Events to Watch Next

At the time of writing, BTC trades at $104,694, falling below the $105,000 mark. This is up from the intraday low of $103,081 and down from the intraday high of $108,356, which the coin held very briefly. It’s currently down 6.3% from the all-time high of $111,814.

In the same time period, Ethereum saw a notable plunge from its intraday high of $2,767 to the intraday low of $2,469, correcting slightly upwards since.

Meanwhile, the crypto market sentiment keeps retreating into fear. It’s currently in the neutral zone, falling from 65 seen yesterday to 54 today. This suggests that the concerns over market overheating and heading for an additional correction are easing.

“Encouragingly, the wave of fear in market sentiment did not translate into a meaningful shift in spending behavior,” Glassnode says.

Moreover, US BTC spot exchange-traded funds (ETFs) saw another day of net inflows, though it’s nearly half of yesterday’s amount. It stood at $86.31 million on Thursday. BlackRock took in $288.33 million, but others ended the day with significant losses.

At the same time, US ETH spot ETFs have recorded 19 consecutive days of inflows, surpassing the BTC counterparts again with $112.36 million in inflows on 12 June. BlackRock’s share here is $101.53 million, and Fidelity’s is $10.83 million.

Meanwhile, stablecoins have been increasingly drawing investor attention. Total stablecoin market capitalization has reached a new all-time high of $250.949 billion, per DeFiLlama.

According to Toledano, “the ease with which USDT and USDC can be converted into both digital assets and fiat currencies enhances their appeal, offering unmatched convenience and flexibility within a rapidly evolving financial landscape.”

Monthly stablecoin flows reached $717 billion–$719 billion from February to April, and annual volumes topped $27.6 trillion, surpassing Visa and Mastercard. Therefore, “stablecoins appear increasingly unstoppable, cementing their role as a transformative force in global finance.”

Quick FAQ

The crypto market recorded a notable pullback today, while the stock market noted an uptick. The S&P 500 has increased by 0.38%, the Nasdaq-100 is up 0.24%, and the Dow Jones Industrial Average rose by 0.24%. The markets are responding to fresh economic data and are waiting for additional details on US-related trade deals.

The market is entering another consolidation phase. Further drops are possible, but so are the new all-time highs.

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