The total cryptocurrency market capitalization decreased by 2.4% in the last 24 hours and now stands at $3.06 trillion. Despite the price pullback, overall activity remains high, with 24-hour trading volume of $109.3 billion.
Market breadth was also negative, with the majority of large-cap assets trading in the red over the past day.
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TLDR:
Crypto market cap fell 2.4% on Tuesday, falling to $3.06 trillion;
Most large-cap assets are in the red, with BTC down 2.4% to ~$87,780;
Analysts say the October 10 crash marked a decisive bearish shift, wiping out about $1.3 billion in market value;
Bitcoin continues to lag stocks and gold, as whale sales and ETF outflows of around $5.1 billion weigh on the price;
Crypto market sentiment remains fearful, with the Fear & Greed Index at 29;
US BTC spot ETFs saw net outflows of $142.19 million, led by Grayscale and Bitwise products;
US Spot Ether ETFs bucked the trend with $84.59 million in inflows, mainly driven by Grayscale funds;
BlackRock continues to support Bitcoin, naming its spot BTC ETF as one of the top investment themes for 2025.
At the time of writing, most of the top 10 cryptocurrencies by market cap are showing losses over the past 24 hours.
Bitcoin (BTC) is down 2.4% on the day, currently trading at $87,780. Despite the decline, Bitcoin remains relatively resilient compared to several major altcoins.
Ethereum (ETH) slipped 2.6%, changing hands at $2,968, while BNB is down 1.6% at $851.51.
XRP (XRP) fell 1.7% over the same period and is trading at $1.90, while Solana (SOL) recorded a daily decline of 3.0%, now priced at $124.77, marking one of the sharpest declines among the major assets.
Dogecoin (DOGE) is also under pressure, down 1.5% in 24 hours to $0.1308.
Outside of the upper level, losses are more uneven. Midnight (NIGHT) stands out on the downside, plunging 23.2% to $0.0777, making it one of the weakest assets of the day among trending assets.
On the positive side, a handful of small-cap tokens are defying the broader market trend. RaveDAO led the gainers, up 37.0% to $0.6357, followed by Impossible Cloud Network, which climbed 32.9% to $0.496. ECOMI also saw strong gains, up 31.0% to $0.0002373.
Meanwhile, analysts at 10x Research said October marked a watershed moment for Bitcoin in 2025, as a sharp crash on October 10 shifted the market from a bullish phase to a sustained bearish regime.
Around $1.3 trillion in crypto market value was wiped out in the weeks that followed, while highly leveraged venues such as Binance and Hyperliquid absorbed massive liquidation activity, and Ethena’s USDe stablecoin saw $8.3 billion in net outflows, signaling a loss of confidence in synthetic collateral structures.
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At the same time, stocks remain resilient, with the S&P 500 and Nasdaq sitting just a few percentage points below all-time highs, suggesting that risk appetite has not collapsed.
However, Bitcoin has not followed any of these trends. CryptoQuant highlighted a breakdown in BTC’s correlations with tech stocks and gold since mid-2024, largely driven by sustained selling by large holders and ETF outflows totaling around $5.1 billion.
With capital rotating into metals and AI-related stocks, Bitcoin remains under pressure, leaving upcoming inflation data, such as the PCE report, as a potential catalyst to change sentiment.
Meanwhile, Linh Tran, market analyst at XS.com, said the policy stance of the US Federal Reserve still defines the short to medium term pace of Bitcoin.
“Although US inflation has slowed from its peak (with 2.7% year-on-year CPI reported last week), recent data indicates that the disinflation process is progressing slowly and unevenly,” she said.
At the time of writing, Bitcoin is trading around $87,784, down just under 1% on the day. The session saw BTC attempt a slight recovery early before falling, briefly testing the $85,000 to $86,000 zone.
Since then, price action has remained volatile, with BTC consolidating below the psychologically important $90,000 level. If the downward pressure resumes, a move towards $84,000 is possible, followed by the support range of $82,000 to $83,000. On the upside, bulls should reclaim and hold $90,000 to signal a stronger recovery.
Ethereum is currently changing hands near $2,961, showing a daily decline of around 1.5%. ETH traded higher earlier in the session, but failed to maintain its momentum above the $3,000 mark, falling sharply into the $2,800-$2,900 range before stabilizing.
The chart shows consistently lower highs since October, reflecting continued selling pressure. If the weakness persists, ETH could retest $2,800, with a larger pullback opening the door to $2,700. A bullish reversal would require ETH to decisively reclaim $3,000 and build support above this level.
Meanwhile, crypto market sentiment remains firmly in fear territory.
The Crypto Fear and Greed Index currently stands at 29, unchanged from yesterday, signaling continued caution from investors. Although sentiment has improved slightly from last week’s reading of 22 and last month’s extreme fear level of 10, it remains well below neutral levels.
Persistent weakness in key asset prices continues to weigh on confidence, with uncertainty still high.
Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded another day of net outflows, with $142.19 million flowing out of products, according to the latest data. Despite the daily pullback, cumulative net inflows remain strong at $57.26 billion, while total US BTC ETF assets stand at $114.99 billion, or approximately 6.5% of Bitcoin’s market cap.
Grayscale’s GBTC led the losses with $28.99 million in net outflows, followed by Grayscale’s BTC fund with $25.40 million and Bitwise’s BITB, which lost $34.96 million. ARK&21Shares’ ARKB also saw $21.36 million leave the fund, while VanEck’s HODL saw $33.64 million in outflows.
On the other hand, US spot Ethereum ETFs saw net inflows of $84.59 million, extending their recent streak of positive flows. Cumulative net inflows into Ether ETFs have now reached $12.53 billion, while total net assets stand at $18.20 billion, representing approximately 5.1% of Ethereum’s total market capitalization.
Inflows were primarily driven by Grayscale’s ETH ETF, which attracted $53.70 million, followed by Grayscale’s ETH Trust, which added $30.89 million on the day. Other major issuers, including BlackRock’s ETHA and Fidelity’s FETH, reported steady daily flows, while smaller products from Bitwise, VanEck, Franklin, 21Shares and Invesco also saw no significant inflows or outflows.
Meanwhile, BlackRock has placed its Spot Bitcoin ETF among its top three investment themes for 2025, ranking the product alongside Treasuries and mega-cap US tech stocks.
Read original story Why is crypto down today? – December 23, 2025 by Amin Ayan on Cryptonews.com
