The crypto market is down again today. Just two of the top 100 coins have recorded increases over the past 24 hours. Moreover, the cryptocurrency market capitalization has decreased by another 3.9% to $3.38 trillion. The total crypto trading volume is at $112 billion, similar to the levels seen yesterday.
TLDR:
The crypto market continues decreasing amid massive geopolitical shifts; Bitcoin fell below the $105,000 level, now trading at $104,971; Ethereum fell from the daily high to the intraday low of $2,464, recuperating since; Canada approved the first XRP ETF in North America; ”Stablecoins are actively becoming a foundational component of the global financial system”; US spot BTC ETFs recorded $216.48 million in inflow, spot ETH ETFs took in $11.09 million; The dip is likely to be affected by the US Federal Reserve meeting and the US involvement in Israel’s attack on Iran.Crypto Winners & Losers
All top 10 coins per market cap are down today.
Bitcoin (BTC) fell by 1.6% and below the $105,000 level, now trading at $104,971.
Also, Ethereum (ETH) has decreased by 2%, changing hands at $2,530 at the time of writing.
XRP (XRP) saw the highest decrease in this category of 3.6% to the price of $2.15. It’s followed by Solana (SOL)’s 3.5% to $147.
The smallest drop is 1.1% by Tron (TRX), which currently changes hands at $0.2742.
Moreover, only two of the top 100 coins have increased today. Kaia (KAIA) is up 6.1% to $0.1644, while Nexo (NEXO) appreciated 0.6% to $1.23.
At the same time, Sky (SKY) recorded the highest decrease today, falling 8.8% to the price of $0.08404.
Speaking of XRP, Canada approved the first exchange-traded fund (ETF) for this asset in North America, called the Purpose XRP ETF (XRPP). Additionally, the Evolve XRP ETF (XRP) will start trading on 18 June as well.
‘Stablecoins are a Foundational Component of Global Financial System’
The US Senate finally passed the long-awaited GENIUS Act on Tuesday. This is the first time the Senate has advanced a regulatory framework specifically for stablecoins. Now, the bill moves to the House of Representatives for a vote.
Liat Shetret, Vice President of Global Policy and Regulation at blockchain analytics firm Elliptic, commented that the US approving its first major stablecoin-focused federal legislation is “a pivotal step in shaping the country’s digital asset future and addressing oversight of the rapidly growing digital asset ecosystem.”
Shetret further argued that,
“Stablecoins are actively becoming a foundational component of the global financial system. By advancing the GENIUS legislation and similar bills, the Senate is recognizing its role in providing financial stability and protecting consumers—shaping legislation to secure the nation’s interests by moving this bill forward.”
Lawmakers from the two major parties have engaged in months-long negotiations and have “worked to strengthen the bill.” They’ve addressed critical concerns around anti-money laundering, national security, and systemic risk, Shetret says.
He added that “it’s clear that robust consumer protections and market integrity safeguards were central to driving approval, and the GENIUS Act benefited from strong nonpartisan support.”
Why is Crypto Down Today: Levels & Events to Watch Next
At the time of writing, BTC trades at $104,971. This is down from the intraday high of $106,795. The coin failed to reach the $107,000 level, or to hold the $106,000 and $105,000 levels. As it broke the support of $106,196, the next one to watch is $104,633. It’s currently far from the ATH of $111,814, but another rally would bring it close to it, if not above.
Moreover, Bitcoin may see short-term losses of 10%-20%, should the US enter Israel’s war against Iran, TradingView noted. Investors tend to seek safe havens during conflicts.
Bitcoin Price Chart. Source: TradingViewAt the same time, Ethereum is currently trading at $2,530. At one point, the price plunged from the intraday high of $2,584 to the intraday low of $2,464. It has recovered since, now attempting to retake that daily high again.
Meanwhile, the crypto market sentiment is now the lowest it’s been in days. The Fear and Greed Index dropped from 54 yesterday to 48 today. It’s still within the neutral area, but fear is moving in. Should it fall further, it may signal buying opportunities.
Source: CoinMarketCapMoreover, on Tuesday, US BTC spot exchange-traded funds (ETFs) saw another day of net inflows, for the 7th consecutive day, with $216.48 million. Of this amount, BlackRock is responsible for $639.19 million, while the others saw outflows, bringing the daily total down.
US ETH spot ETFs also recorded net inflows of $11.09 million on Tuesday. Grayscale took in $36.71 million, and Bitwise $3.62 million. The cumulative total net inflow is $3.89 billion.
Investors in all markets are currently focused on two major geopolitical and macroeconomic events.
On the one side, investors are reacting to Iran’s attack on Iran, but are also monitoring the US’s growing involvement in the war – which is bound to affect markets across the board.
The other element is today’s US Federal Reserve’s decision on interest rates.
Quick FAQ
Why did crypto move with stocks today?Both the crypto and the stock markets decreased over the last day. The S&P 500 went down by 0.84%, the Nasdaq-100 decreased by 1%, and the Dow Jones Industrial Average fell by 0.7%. The stock market may have recovered from the initial Israel’s attack on Iran, but now it’s focused on the US involvement in this war.
Is this dip sustainable?Given the current shaky geopolitical and macroeconomic stages, the dip may continue over the short term. Though another rally is not out of the question, fueled by regulatory developments, additional decreases are possible.
The post Why Is Crypto Down Today? – June 18, 2025 appeared first on Cryptonews.
