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  • Shrishesh Tanksalkar
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    Why Is Crypto Down Today?

    Story Highlights
    • Crypto Industryโ€™s market cap slumps by 2.98% as trading volume drops by 24.92%.

    • Bitcoin encounters a 3.07% price fall amid ETF outflows of $95.62M.

    The crypto market today is currently undergoing a pullback as marketers speculate President Donald Trumpโ€™s oath taking being a โ€œsell the news eventโ€. As a result, the market cap of the business has sunk by 2.98% to $3.53 trillion since yesterday. The trading volume too slipped by 24.92%, settling at $147.07 billion. However, what comes as a surprise is that the Fear & Greed Index continues to sit at a โ€œGreedโ€ score of 60. 

    Bitcoin Faces ETF Outflows As Broader Market Declines

    Bitcoin price has dropped from its 24 hour high of $105,908.98, to its press time price of $102,465.93. The price dip aligns with $95.62 million worth of outflows in Bitcoin ETFs, recorded on 22nd January 2025. That being said, Bitcoinโ€™s market dominance remains grounded at $2.03 trillion, although the trading volume took a hit of 22.97%, to $59.01 billion.

    Concerned about Bitcoinโ€™s next price target? Read our Bitcoin (BTC) Price Prediction 2025, 2026-2030

    Altcoins Follow BTCโ€™s Suit?

    Ethereum, price has declined by 3.23%, trading at $3,214.02. Solana and XRP followed closely, with losses of 2.56% and 0.83%, respectively.

    In contrast, a few altcoins like PENGU (+6.67%), XDC Network (+4.15%), and Gate Token (+3.74%) have emerged as top gainers, bucking the trend. However, the losersโ€™ list was dominated by AI16Z (-22.11%), MELANIA (-19.40%), and FARTCOIN (-18.65%).

    Interested in stacking some ETH, but worried about its future? Read our Ethereum Price Prediction 2025, 2026-2030 NOW!

    That being said, the market’s decline appears to be a mix of profit-taking and reduced volumes, particularly in major assets, hinting at a consolidation phase.

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    FAQs

    1. Why is the crypto market down today?

    The cryptocurrency market has declined due to significant Bitcoin ETF outflows, reducing trading volumes, and fear over global events like Trumpโ€™s future crypto decisions impacting sentiment.

    2. What is Bitcoinโ€™s current market performance?

    Bitcoin has dropped 3.07% in the last 24 hours, trading at $102,465.93. It has seen a 22.97% reduction in trading volume amid ETF outflows.

    3. Which cryptocurrencies are the top gainers today?

    The top gainers include PENGU (+6.67%), XDC Network (+4.15%), and Gate Token (+3.74%).

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