Why Is Crypto Down Today? – October 21, 2025

The crypto market is down today, showing a notable dip as total market capitalization fell by 2.3% to $3.76 ￰2￱ volume over the past 24 hours stands at $156.6 billion, reflecting moderate market activity amid continued price corrections across major assets. TLDR: The total crypto market cap dropped 2.3% to $3.76 trillion; 8 of the top 10 coins are down; Fear & Greed Index sits at 33 (Fear), up slightly from 30; BTC is consolidating between $107K–$110K; ETH faces pressure around $3,850, losing that level could bring $3,700–$3,500; US BTC spot ETFs saw $40.47M in outflows; US ETH spot ETFs posted heavier $145.68M outflows; A SpaceX-linked wallet moved $268M in BTC after a 3-month pause; Crypto Winners & Losers At the time of writing, 8 of the top 10 cryptocurrencies by market capitalization are in the ￰3￱ (BTC) dropped 2.0% over the past 24 hours, currently trading at $108,562, while Ethereum (ETH) is down 3.5%, sitting at $3,885.73.

Binance Coin (BNB) saw the steepest decline, losing 3.6% to trade at $1,075.93, marking a 10.2% drop over the past week. Meanwhile, XRP (XRP) slipped 1.8% to $2.42, and Solana (SOL) fell 2.8% to $186.31. Cardano (ADA) is also down 3.4% to $0.6475, extending its weeklong ￰4￱ the top gainers, SynFutures (SYF) surged 50.9%, followed by Hajimi with a 41.2% rise and BinanceLife up 30%. In contrast, the trending coins include Zora, FLOKI, and Zcash, with Zcash seeing a modest 7.4% daily gain.

Overall, the market sentiment remains cautious as traders await signs of stabilization after this week’s correction, with Bitcoin holding above the $108,000 support level while altcoins continue to face selling pressure. However, crypto investor and entrepreneur Ted Pillows sees $100,000 coming into play next if BTC price fails to establish a floor. $BTC is now at a key support ￰5￱ $107,000-$108,000 support level holds, a bounceback could ￰6￱ Bitcoin loses this level, it could drop towards $100,000 in the coming ￰7￱ — Ted (@TedPillows) October 21, 2025 Bitcoin Slips Toward $107K as Traders Eye CME Gap and $100K Retest Bitcoin fell to weekly lows near $107,460 on Tuesday, erasing its early rebound as traders turned their focus to the latest unfilled CME futures ￰8￱ drop, amounting to a 2.5% decline on the day, came amid thin trading volumes and cautious sentiment following last week’s ￰9￱ noted that Bitcoin opened the week with a small CME gap below current levels and partially filled it, but a full closure would require a move toward $107,390.

Popular trader Daan Crypto Trades said bulls need to hold the $107K level to avoid signaling further weakness, while another large gap at $110K was already closed last week. $BTC Opened with a small CME gap below this ￰10￱ did come down to close some of it, but there's still a bit ￰11￱ good to keep that in mind if price were to trade close to ￰12￱ that, we did close the big gap at $110K last ￰13￱ was a gap that was left… ￰14￱ — Daan Crypto Trades (@DaanCrypto) October 20, 2025 Market watchers warned that fading momentum and low volume could trigger a deeper pullback toward $100K–$98K, levels not seen since the last major correction. “The low-volume breakout never confirmed a true reclaim of support,” trader Roman said, suggesting Bitcoin may still revisit lower price zones before finding a firm bottom. $Btc h4 Still following this very well.

Didn’t trust the low volume “breakout” as volume never validated a true reclaim of support. 100-98k here we come! ￰0￱ ￰15￱ — Roman (@Roman_Trading) October 21, 2025 Levels & Events to Watch Next At the time of writing on Tuesday afternoon, Bitcoin (BTC) is trading at $108,645, down 1.75% over the past 24 ￰16￱ coin saw an intraday high of around $110,500 before sliding to the day’s low near $107,400. Over the last week, BTC has fallen more than 2%, showing persistent weakness after failing to sustain its rebound from early October lows. Currently, Bitcoin is consolidating in the $107,000–$110,000 range. A breakout above $110,800 could open the door toward $113,200 and possibly $115,000, while losing support at $107,000 may push the price back toward $104,500, levels tested during the last correction.

Meanwhile, Ethereum (ETH) is trading at $3,893, down 2.19% in the past ￰17￱ coin reached a daily high near $3,980 before retreating to its current level, with a 7-day low around $3,750. ETH remains under pressure alongside Bitcoin, slipping over 3% this week and nearly 12% below its late-September peak of $4,420. If Ethereum drops below $3,850, it could slide toward $3,700 and possibly $3,500. However, a move above $4,000 could trigger a short-term recovery toward $4,200 and $4,350 if buying momentum returns.

Meanwhile, the crypto market sentiment remains in the fear zone , with only a slight improvement since ￰18￱ Crypto Fear and Greed Index stands at 33, up from 30 the previous day but still signaling cautious investor ￰19￱ to last week’s neutral level of 42, sentiment has clearly weakened as traders grow more uncertain about short-term price ￰20￱ index is now hovering close to the lower end of the spectrum, showing that investors are still wary after recent market ￰21￱ US Bitcoin spot exchange-traded funds (ETFs) recorded another day of outflows on October 20, totaling $40.47 million in net ￰22￱ day’s trading volume across all issuers reached $4.87 billion, while cumulative net inflows since launch remain strong at $61.50 ￰23￱ the 12 listed funds, the largest outflow came from BlackRock’s iShares Bitcoin Trust (IBIT), which saw $100.65 million leave the fund despite holding the highest net assets at $88.82 ￰24￱ the other hand, VanEck’s HODL ETF led inflows with $21.16 million, followed by Bitwise’s BITB with $12.05 million and Fidelity’s FBTC with $9.67 ￰25￱ US Ethereum spot ETFs also saw heavy outflows on October 20, totaling $145.68 million, marking one of the largest single-day redemptions since ￰26￱ trading volume across all ETH spot ETFs reached $2.15 billion, while cumulative net inflows remain positive at $14.45 ￰27￱ majority of the withdrawals came from BlackRock’s ETHA, which recorded $117.86 million in outflows despite leading the category with $15.85 billion in total assets under management.

Fidelity’s FETH followed with $27.82 million in ￰28￱ contrast, other issuers, including VanEck, Bitwise, and 21Shares, reported no significant inflows or outflows during the same period. Meanwhile, a SpaceX-linked wallet has moved $268 million worth of Bitcoin to two separate addresses on Tuesday, Arkham data ￰29￱ to on-chain analyst Ai Yi, the transfer from SpaceX account follows a 3-month ￰30￱ analyst suggested that the move is likely to be an internal management move and not a sale. “In July, SpaceX’s sudden transfer had its receiving address marked by Arkham as a Coinbase Prime Custody ￰31￱ time, it might just be wallet reorganization.” SpaceX 时隔三个月再次转出价值 2.68 亿美元的 $BTC 其中 1187 枚 BTC 已转移至地址 bc1qq…4sduw，1208 枚转移至地址 bc1qj7…6kqef，目前两个接收地址都暂未转移或卖出 不过需要注意的是：七月时 SpaceX 的突发转账，其接收地址已被 Arkham 标记为 Coinbase Prime Custody… ￰1￱ ￰32￱ — Ai 姨 (@ai_9684xtpa) October 21, 2025