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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jul 29, 2025 03:50 UTC
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Why is the Crypto Market Going Down Today?
Altcoins Crash as Market Dips: Major altcoins like ETH, XRP, ADA, and DOGE drop sharply amid investor profit-taking and ETF delays.
SEC ETF Pause Triggers Panic: Uncertainty over altcoin ETF approvals and Bitcoin profit rotation spark widespread altcoin sell-off.
The crypto market has taken a dip today, with the global market cap falling by 1.76% to $3.88 trillion. While Bitcoin is staying close to its recent highs, many altcoins are under heavy selling pressure. Here’s a breakdown of what’s causing the sudden crash.
Altcoins are taking the biggest hit. Ethereum (ETH) is trading at $3,779.85, slipping 2.53% in the last day. XRP has dropped 4% in a day, even though it remains up over 10% for the week, currently priced at $3.12. Solana (SOL) and BNB are both down over 2.4% daily. Cardano (ADA), priced at $0.7878, is down 6.17% in 24 hours and has lost 10.81% over the week.
Dogecoin (DOGE) has also taken a sharp hit, down 7.64% today. Similarly, Sui (SUI) has tumbled 8.30% today. Overall, the market’s red zone performance shows investor reaction, profit-taking after recent rallies, and pressure from ongoing regulatory uncertainties.
Reasons Behind The Recent Crash
One of the reasons for the pullback may be the U.S. SEC’s decision to pause approval of new spot ETFs for altcoins. While Bitcoin and Ethereum ETFs have been given the green light, altcoin ETFs are still in limbo.
Experts and traders had expected the altcoin ETF approval to come soon, hoping it would bring in fresh money and drive prices up. But now, with no clear timeline, investors are stepping back and choosing to wait, creating panic selling in altcoin markets.
Additionally, many altcoins have doubled or even tripled in value over the past few months. Now that Bitcoin is consolidating near its $120,000 resistance level, traders are moving their profits from altcoins back into Bitcoin, which is seen as a “safer” asset. This rotation of money is pushing altcoin prices down even further.
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FAQs
Recovery depends on several factors, including the Federal Reserve’s next move, regulatory clarity, and whether Bitcoin can stay above its key support level. A breakout above $120,000 could renew bullish momentum.
ADA (-6%), DOGE (-7.6%), SUI (-8.3%) lead losses, while ETH (-2.5%) and SOL (-2.4%) also decline sharply.
No—BTC remains stable near highs while altcoins bleed, as traders rotate profits into “safer” Bitcoin.
Possible if ETF hopes return or Bitcoin rallies, but short-term pressure remains due to profit-taking.
Yes 
No 
