News View Non-AMP

Why Is Crypto Taking a Hit Today? Key Reasons Explained

Published by
Shrishesh Tanksalkar

Cryptocurrency Market Overview: The crypto market is under pressure today, as the total market capitalization dropped by 1.80% to $2.27 trillion. The fall comes in view of the ongoing geopolitical tensions between Israel and Iran. This downturn comes alongside a sharp rise in trading activity, with the 24-hour volume spiking 45.29% to reach $105.1 billion.

The Fear & Greed Index, sits at a neutral 50, reflecting an uncertain atmosphere. Although BTC dominance increased by 0.47% to 58.31%, suggesting Bitcoin’s greater market control, altcoin performance continues to show volatility, with an Altcoin Season Index score of 30, indicating a lack of robust altcoin traction for the near future.

Bitcoin Today: ETF Inflows Rise While Price Slumps

Bitcoin (BTC) price faced a setback, slipping 1.26% to $66,862.02 despite notable ETF inflows of $401.842 million, underscoring its continuing appeal as a stronghold for institutional investors. However, the 24-hour BTC trading volumes rose by 41.91%, hinting at a wave of active trades yet failing to hold BTC above critical levels. Traders may hold off on decisive moves as BTC’s sideways trend continues.

Curious about BTC’s future price? Our Bitcoin Price Prediction answers that and much more!

Altcoins Face Challenges Amid Market Downturn

Ethereum (ETH), the leading altcoin, saw its price decline by 1.47% to $2,456.03 as ETF outflows reached $19.20 million. Solana (SOL), another market favorite, took a more pronounced hit, down 4.28% to $166.05, while XRP, also dropped 2.59%, now priced at $0.5126. This broad altcoin dip signals cautious sentiment and likely temporary price resistance in response to the overall market trend.

Wondering if the ETH price will claim the $5k mark in 2024. Read our Ethereum Price Prediction for details!

Top Gainers and Losers

A few tokens managed gains, with Mantra rising by 2.28% to $1.29, followed by Tether Gold up 0.18%, now priced at $2,751.31. However, top losers painted a different picture, with Celestia plummeting 10.96% to $5.27, and MEW and Wormhole dropping 9.61% and 9.37%, respectively.

As the market watches for more stability, all eyes are on BTC’s performance and institutional inflows to gauge possible recovery signals. Investors remain on the lookout, ready to navigate these mixed signals amid a volatile landscape.

Shrishesh Tanksalkar

Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

Recent Posts

Anthony Pompliano’s ProCap BTC Acquires 3,724 Bitcoin Following a Strategic Merger With Columbus Circle

Anthony Pompliano’s ProCap BTC has acquired 3,724 Bitcoin for about $387 million to strengthen its…

June 25, 2025

Chainlink Partners With Mastercard to Boost Crypto Adoption: What’s Next for LINK Price?

Chainlink (LINK), an established decentralized oracle network, has announced a strategic partnership with Mastercard Inc.…

June 25, 2025

XRP Price Jumps 12%, Analyst Dark Defender Flags Danger Zones

The crypto market’s been volatile lately and XRP is no exception. Over the weekend, as…

June 24, 2025

What XRP Users Are Talking About This Week: Latest Rumors, Predictions & Debates

The XRP community is as fiery as ever, with price debates, predictions, and arguments lighting…

June 24, 2025

Nasdaq-Listed Nano Labs Plans to Buy $1B in BNB — Aiming for 10% Supply Takeover!

China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB).…

June 24, 2025

Bitcoin Price Holds Strong at $105K: Short Squeeze Ahead?

Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle…

June 24, 2025