Bitcoin and Ethereum's prices sank as investors booked profits in light of the previous week's rally and ETF-driven volatility.
TRON and Tether gain slightly, standing out as the only major cryptocurrencies in green.
AI and Layer 1 sectors saw the heaviest losses, marking broad-based weakness throughout the digital asset market.
Crypto prices today continue to decline over the past 24 hours, led by heavy losses in major tokens and AI-related cryptocurrencies. According to data from SoSoValue, the AI sector plunged 6.33%, one of the sharpest declines in several weeks. The weakness was more pervasive, with some exceptions in Layer 1 and Layer 2 tokens, such as Nano XNO and SOON, managing small gains. Here’s why the crypto market is down today, based on CoinMarketCap data.
Bitcoin was the biggest loser, falling 1.89% in the last day to trade at $103,274.23. The world’s largest cryptocurrency market cap now stands at $2.06 trillion, with $62.1 billion in trading volume over the last 24 hours. Though BTC jumped briefly after the US government shutdown was resolved, its recent slide reflects investor wariness amid continued fluctuations in inflows and outflows of ETFs.
The drop comes after a report from SoSoValue had shown that Bitcoin Spot ETFs recorded $524 million in inflows yesterday alone, of which BlackRock’s IBIT had $224M and Fidelity’s FBTC took in $166M. Still, it seems traders are taking profits after last week’s rally.
Ethereum's price has slipped below $3,500. Ethereum also declined due to selling pressure, down 3.12% to trade at approximately $3,448.19. Its market capitalization is $416.18 billion, with a 24-hour trading volume of $35.9 billion. This decline in price coincided with net outflows from Ethereum ETFs amounting to $107 million, with most of this outflow attributed to Grayscale's ETHE and ETHA, indicative of weaker investor confidence in Ether-linked products.
Stablecoins and TRON have held strong at press time, compared to the other top cryptocurrencies.
USDT slid a little, up just 0.01% over the day, sitting at $0.9996. By market capitalization, USDT is at $183.43 billion and remains the leading liquidity vehicle in the ecosystem. USDC, the second-largest stablecoin, fell by 0.01% to $0.9998. It retains a market capitalization of $75.97 billion and serves as one of the top liquid assets for institutional transfers and DeFi markets.
Meanwhile, TRON was one of the few top tokens to make gains in crypto prices today, up 0.92% to $0.2994. Steady network stability and growing on-chain activity had pegged TRON’s market capitalization at $28.34 billion, supported by a daily trading volume of $762 million.
Also Read: Will Dogecoin Surge Soon? Analyst Points to November Window
XRP traded 3.87% lower at $2.39 and had a market capitalization of $143.89 billion. Although the token gained in the previous week, its price action continued to reflect the general downward trend. The daily volume of XRP was $4.1 billion, showing that despite the sell-off, it was still very actively traded.
BNB dropped 2.43% to $959.29, with a market cap of $132.13 billion and volume at $2.48 billion. The correction came after a weeks-long uptrend as Layer 1 tokens lost 4.82% in the last 24 hours.
Solana posted one of the steepest declines-6.13% to $155.12. The market capitalization of the token dropped to $85.92 billion as $5.6 billion worth of tokens exchanged hands over the last 24 hours. Despite the strong developer momentum for blockchain, the continuing price volatility for its token suggests speculative trades.
Dogecoin also lost 4.23% to $0.1713, pulling its market capitalization down to $25.99 billion. Meme coins, in unison, shed 4.85% and showed declining retail participation.
In the same vein, Cardano declined 4.48% to $0.5594 with a market capitalization of $20.06 billion. ADA’s fall reflects broader pressure on the proof-of-stake blockchains following recent DeFi slowdowns.
Here are the top global headlines that impacted crypto prices today:
JPMorgan Chase launched its blockchain-based JPM Coin for institutional clients on Coinbase's Base network, allowing instant 24/7 money transfers and expanding its tokenized USD deposit system.
Andreessen Horowitz's a16z crypto urged the regulators in the U.S. to adopt the privacy-preserving digital ID systems using zero-knowledge proofs under the GENIUS Act.
Bitwise CIO Matt Hougan thinks U.S. crypto legislation may happen sooner rather than later because of the strength of bipartisan support.
A fire at Bitdeer's Ohio mining farm brought down two of its buildings, but no one was injured.
Crypto prices today remain under pressure as risk sentiment fades and traders digest ETF movements. However, continued institutional adoption, steady stablecoin flows, and blockchain-based innovation are signaling long-term resilience amidst short-term volatility. Investors should keep an eye on global cues to gauge the market’s next movement.
1. Why is the crypto market down today?
The crypto market is down principally due to broad profit-taking after recent rallies, ETF outflows, and weak sentiment in AI-linked and Layer 1 tokens. Traders are also reacting cautiously to macroeconomic uncertainty and tightening liquidity across markets.
2. How much is Bitcoin price today?
The price of Bitcoin slipped about 1.89% to around $103,274 after ETF inflows slowed and investors booked profits. Despite the short-term weakness, institutional interest in Bitcoin remains high, with BlackRock and Fidelity continuing to add positions in Bitcoin ETFs.
3. When is Ethereum's price likely to rebound?
Ethereum lost 3.12% to slip below $3,500, driven by heavy ETF outflows and broad market selling. While the short-term outlook appears bearish, analysts say robust developer activity and staking demand could help ETH recover over the next few weeks.
4. Which cryptocurrencies have performed best today?
In the top ten, only USDT and TRX recorded gains. While their stability and consistent on-chain usage helped them weather the day’s market turmoil, the likes of Solana and Cardano registered sharp declines.
5. What’s the outlook for crypto investors right now?
Volatility in the short term may persist amid investors' reassessment of risk levels, but long-term sentiment remains optimistic. Ongoing institutional adoption, blockchain innovation, and stablecoin resilience suggest a robust foundation for future recovery.
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