Why Is Crypto Down Today? – October 16, 2025
The crypto market is down today, with the cryptocurrency market capitalization decreasing by 1.4%, rising to $3.88 trillion. Of the top 100 coins, 93 have dropped over the past 24 hours. At the same time, the total crypto trading volume is at $194 billion.
- The crypto market capitalization is down by 1.4% on Thursday morning (UTC);
- 93 of the top 100 coins and 9 of the top 10 coins are down;
- BTC is down 2.2% to $110,774, and ETH fell 4.4% to $3,993;
- The drop below the $117,000–$114,000 cost-basis zone put top buyers in loss;
- This latest contraction is particularly concerning;
- A long-dormant Bitcoin wallet transferred a whopping 2,000 BTC on Thursday;
- US OCC has granted preliminary conditional approval to Erebor Bank;
- US BTC spot ETFs saw outflows on Wednesday of $94 million, while ETH spot ETFs recorded inflows of $5.32 million;
- The weaker ETF inflows signal fading institutional demand;
- BitMine Immersion Technologies acquired another 104,336 ETH;
- Crypto market sentiment stands within the fear zone, at the level last seen in April.
Crypto Winners & Losers
At the time of writing, 9 of the top 10 coins per market capitalization have seen their prices decrease over the past 24 hours.
Bitcoin (BTC) decreased by 2.2% since this time yesterday, currently trading at $110,774.
Ethereum (ETH) is down by 4.4%, now changing hands at $3,993.
The highest drop in the category is 6.8% by Solana (SOL), which currently trades at $192.
It’s followed by XRP’s 5.5% to $2.39.
The only green coin is Tron (TRX), which appreciated 0.4% to the price of $0.3216.
Looking at the top 100 coins, we find 93 of them in red. Among these, Bittensor (TAO) is the reddest, having dropped 14.2% to $388.
Two more coins recorded double-digit drops: Aster (ASTER) with 12.8% and Story (IP) with 10%, now trading at $1.32 and $6, respectively.
On the other side, ChainOpera AI (COAI) is at the top, recording another substantial day of gains, with a rise of 53.1% to $24.
It’s followed by the only other two coins with increases over 0.5%: Provenance Blockchain (HASH) and Figure Heloc (FIGR_HELOC), which are up by 5.4% and 3.2% to $0.03561 and $1.02, respectively.
Meanwhile, a long-dormant Bitcoin wallet awoke on Thursday to transfer a whopping 2,000 BTC, worth about $222 million, into 51 new addresses. This has prompted discussion about whether early holders will be potentially selling or just shuffling their funds.
‘The Market Risks Deeper Contraction’
“Bitcoin’s rally to $126.1k reversed amid macro stress and a $19B futures deleveraging, one of the largest in history,” the Glassnode analysts said in their latest report.
The renewed sell pressure was amplified by the trade threats from the US towards China.
Notably, the drop below the $117,000–$114,000 cost-basis zone put top buyers in the loss territory. It also exposed renewed market fragility.
Moreover, the weaker ETF inflows signal “fading institutional demand,” the report notes, while spot markets saw a sharp though orderly sell-off.
“This latest contraction is particularly concerning, as it marks the third instance since late August where Bitcoin’s spot price has dipped below the 0.95-quantile price model ($117.1k)—a level where over 5% of supply, primarily held by top buyers, sits at a loss,” say the analysts.
Historically, when price fails to hold this zone, the report argues, “it has often preceded prolonged mid- to long-term corrections, making a sustained drop below $108k a critical warning signal of structural weakness.”
They concluded that “despite rapid stabilization, the market remains in a reset phase, where renewed ETF inflows and sustained on-chain accumulation will be key to restoring confidence and confirming a durable recovery.”
Levels & Events to Watch Next
At the time of writing on Thursday morning, BTC trades at $110,774. Early in the day, the coin decreased to the intraday low of $110,392 from the intraday high of $112,697. It’s been trading sideways since that point.
A breakout above $114,600 could lead to the move toward $117,600. That may result in an increase to $119,800 and $120,000. On the other hand, BTC could drop to $109,500 and proceed towards the $100,000 level, possibly even dip below that level.
Bitcoin Price Chart. Source: TradingView
Ethereum is currently changing hands at $3,993. It saw a plunge from the day’s high of $4,165 to the low of $3,944. The coin has been consolidating between $3,900 and $4,700 for the past several months.
There is still a chance for ETH to continue dropping towards the $3,700 level, followed by $3,550. On the other hand, it may break above $4,200 and rise toward $4,450.
Meanwhile, the crypto market sentiment keeps dropping within the fear zone, reaching the lowest point in six months. The crypto fear and greed index has dropped from 37 yesterday to 32 today, the lowest value since April this year.
There is a notable increase in caution among investors and traders, which may push the prices down further. On the other hand, lower prices may also provide a buying opportunity.
Source: CoinMarketCap
ETFs See Mixed Picture
The US BTC spot exchange-traded funds (ETFs) went back into the red on Wednesday, after a single day of inflows, with $94 million in outflows. The total net inflow is now down to $62.45 billion.
Of the 12 ETFs, two saw flows, and both are negative. Grayscale recorded outflows of $82.9 million, while Invesco let go of $11.1 million.
Source: SoSoValue
However, the US ETH ETFs recorded $5.32 million in inflows on 15 October. The cumulative total net inflow now stands at $14.72 billion.
Two of the nine finds saw positive flows, and one saw negative flows. The highest among these is Bitwise’s $12.31 million, followed by Fidelity’s $996,440 million. At the same time, 21Shares let go of $7.98 million.
Source: SoSoValue
Meanwhile, BitMine Immersion Technologies increased its ETH holdings on Thursday, acquiring 104,336 ETH, worth about $417 million. With the latest addition, the firm now holds roughly 3.03 million ETH, valued at about $12.2 billion. They aim to amass 5% of the coin’s total supply.
Furthermore, the US Office of the Comptroller of the Currency (OCC) has granted preliminary conditional approval to Erebor Bank, a new financial institution/bank backed by major players Peter Thiel, Palmer Luckey, and Joe Lonsdale.
Quick FAQ
- Why did crypto move against stocks today?
The crypto market has decreased over the past day, and the stock market saw a mixed picture on Wednesday. By the closing time on 15 October, the S&P 500 was up by 0.4%, the Nasdaq-100 increased by 0.68%, and the Dow Jones Industrial Average fell by 0.037%. The stock market has turned lower due to the US President’s trade threats against China.
- Is this drop sustainable?
It’s likely that we will continue to see the market fluctuate in this period of increased market volatility.
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