Why Is Crypto Down Today? – September 26, 2025

The global cryptocurrency market cap has dipped 2.2% over the past 24 hours, now standing at $3.83 trillion, according to the latest ￰3￱ volume is up to $237.1 billion, but major digital assets remain under downward pressure as investor sentiment weakens. TLDR: Crypto market slides deeper, with 9 of the top 10 coins down; BTC at $109,027 and ETH at $3,894; Fear & Greed Index drops to 32, lowest since April; BTC faces deeper correction as long-term holders realize $3.4M in profits; ETH struggles near $3,900, with bulls needing $4,400 breakout to regain control; US BTC spot ETFs see $258.46M in outflows; US ETH spot ETFs post $251.20M in outflows; SEC, FINRA launch probe into suspicious stock movements tied to crypto treasury plans; Crypto Winners & Losers At the time of writing, nine of the top 10 cryptocurrencies by market cap are in the ￰4￱ (BTC) has fallen 2.1% on the day to $109,252, down 6.6% over the past ￰5￱ (ETH) has dropped 3.3% in the past 24 hours, trading at $3,895 and logging a 13.9% weekly ￰6￱ (SOL) leads the day’s losses among major assets, falling 4.6% to $193.51, extending its 7-day decline to 20.7%.

XRP (XRP) is down 3.3% to $2.74, while BNB (BNB) has slid 4.8% to $941.32. Dogecoin (DOGE) lost another 3.5% to trade at $0.2247, marking an 18.4% weekly ￰7￱ trending tokens, Plasma , Aster , and Avantis are attracting attention—but not for the right ￰8￱ has slipped 5.4% to $1.86, while Avantis has taken a sharper dive, plunging 22.6% to $1.54, making it one of the biggest daily ￰9￱ the flip side, a few lesser-known tokens have emerged as the day’s standout ￰10￱ leads with a massive 94.8% gain, followed closely by Concordium , which is up 66.6%. Wrapped XPL is also on the rise, posting a 65.2% increase. Meanwhile, Bitcoin sentiment has sharply declined, with the Crypto Fear & Greed Index dropping to 28, the lowest since April, as BTC dipped below $109,000 and triggered fresh ￰11￱ index fell 16 points overnight, reflecting growing fear in the market despite prices still holding well above previous lows, highlighting a widening gap between sentiment and price ￰12￱ fear and a HIGHER ￰13￱ this be the turning point Bitcoin and Crypto has been waiting for?

The analysis looks good, but it has not been confirmed. I explain all in this video: ￰0￱ ￰14￱ — Michael Pizzino (@PizzinoMichael) September 26, 2025 Bitcoin Faces Potential Correction as Onchain Metrics Signal Exhaustion Bitcoin is showing signs of a deeper correction, with long-term holders realizing profits at levels typically seen near market cycle ￰15￱ to Glassnode, 3.4 million BTC in realized gains and slowing ETF inflows suggest investor exhaustion following the recent Fed rate ￰16￱ recently dropped to a four-week low of $108,700, falling below key support ￰17￱ Rally to Correction #Bitcoin shows exhaustion post-FOMC as LTHs realized 3.4M BTC in profit and ETF inflows ￰18￱ spot and futures weak, $111k STH cost basis is key support or risk ￰19￱ more in the latest Week On-Chain below ￰1￱ ￰20￱ — glassnode (@glassnode) September 25, 2025 10x Research’s Markus Thielen warned that many investors positioned for a Q4 rally may be caught off-guard, with current price action hovering near previous stop-loss ￰21￱ also reported the profit/loss ratio has hit extreme highs three times this cycle—each previously marking a cycle peak—implying a cooling phase is ￰22￱ stress is seen in the SOPR and NUPL ￰23￱ short-term holders are now selling at a loss, and the NUPL for newer investors is nearing zero, which may lead to further ￰24￱ caution that renewed downside pressure could dominate unless market momentum returns ￰25￱ & Events to Watch Next Bitcoin is trading at $109,027 at the time of writing, largely flat on the day after a sharp decline from recent ￰26￱ asset is testing a key support zone after shedding more than $6,000 in the past week, raising concerns of further downside if $108,700 gives ￰27￱ BTC breaks below that level, the next major support sits at $107,000, followed by $105,000.

On the upside, bulls will look to reclaim the $111,000–$113,000 band to avoid further cascading liquidations. A sustained move above $115,000 is needed to shift sentiment back in favor of buyers. Meanwhile, Ethereum is trading at $3,894, up 0.47% in a modest bounce after a heavy sell-off earlier in the ￰28￱ remains vulnerable, hovering just below the key $4,000 psychological level, after dropping from near $4,750 earlier this ￰29￱ ETH fails to hold above $3,850, support lies at $3,750 and $3,600. A short-term recovery could face resistance at $4,000, with further hurdles at $4,200 and $4,400.

Bulls need a break above $4,400 to regain control and challenge the September ￰30￱ sentiment has taken a sharp turn toward ￰31￱ CMC Crypto Fear and Greed Index now sits at 32, slipping into the “Fear” category after hovering in “Neutral” territory for ￰32￱ index dropped from 41 yesterday and 52 last week, reflecting a growing sense of unease among ￰33￱ decline in sentiment mirrors the broader market retracement, with BTC and ETH testing key support ￰34￱ traders spooked by macro uncertainty and recent price drops, the shift suggests participants are retreating to the sidelines, awaiting stronger signals before placing aggressive ￰35￱ US Bitcoin spot ETFs posted a sharp net outflow of $258.46 million on September 25, halting their previous recovery ￰36￱ this setback, the cumulative net inflow remains substantial at $57.23 billion, with total assets under management at $144.35 billion, accounting for 6.64% of Bitcoin’s market cap.

Fidelity’s FBTC led the withdrawals with a $114.81 million outflow, followed by Bitwise’s BITB with $80.52 million and ARKB with $63.05 million. Grayscale’s GBTC also saw $42.90 million pulled from the ￰37￱ BlackRock’s IBIT recorded a notable inflow of $79.70 ￰38￱ also led trading activity, with nearly $4 billion in volume, indicating sustained investor attention despite the broader ￰39￱ US Ethereum spot ETFs recorded a steep net outflow of $251.20 million on September 25, reflecting increased selling pressure and fading investor ￰40￱ this drop, cumulative net inflows remain at $13.37 billion, while total assets under management now sit at $25.59 billion, roughly 5.46% of Ethereum’s market cap.

Fidelity’s FETH saw the largest single-day withdrawal at $158.07 million, followed by BlackRock’s ETHA with a $30.27 million outflow. Grayscale’s ETHE and ETH funds lost $26.14 million and $26.14 million, respectively. Bitwise’s ETHW also recorded $27.60 million in ￰41￱ ETF recorded any inflow for the day, underscoring widespread profit-taking and caution among institutional ETH investors. Meanwhile, US regulators are probing unusual stock price movements ahead of public announcements by over 200 firms planning crypto treasury ￰42￱ SEC and FINRA are investigating potential breaches of insider trading rules, particularly around the selective sharing of non-public ￰43￱ regulators are circling after stocks that spiked ahead of crypto treasury news, as non-crypto firms rushed to load up on digital assets. #CryptoCrackdown #CryptoTreasury ￰2￱ — ￰44￱ (@cryptonews) September 26, 2025