Why Is Crypto Down Today? – December 9, 2025

The cryptocurrency market has seen a decrease today, with a drop in market capitalization and most top coins experiencing losses. Investors are closely monitoring developments from the US Federal Reserve, particularly its anticipated interest rate decisions, which could impact market trends moving forward.

Key Takeaways

The overall crypto market capitalization is down by 1.2%, currently at $3.17 trillion.
86 of the top 100 cryptocurrencies have experienced price declines.
Bitcoin (BTC) is trading at $90,480, down 1.1%.
Ethereum (ETH) has decreased slightly by 0.3%, now priced at $3,122.
The focus remains on the US Federal Reserve and potential interest rate cuts.

Why Is Crypto Down Today

Current Market Overview

Starting the week on a positive note, today the cryptocurrency market has reversed course, seeing a decline in market capitalization of 1.2% to $3.17 trillion. In the last 24 hours, 86 out of the top 100 cryptocurrencies have seen their prices drop. Total trading volume for cryptocurrencies is approximately $116 billion.

Crypto Winners & Losers

When analyzing the top 10 cryptocurrencies by market capitalization, all have recorded price declines:

Bitcoin (BTC): Down 1.1%, now trading at $90,480.
Ethereum (ETH): Down 0.3%, trading at $3,122, marking the smallest decline in this category.
Tron (TRX): The largest drop among the top ten, down 2.1%, currently priced at $0.2811.
Solana (SOL): Down 1.9%, now standing at $133.

Among the top 100 coins, 86 have dropped in price. Notably, Hyperliquid (HYPE) has experienced the largest fall of 6.1%, trading at $28.2, followed by Internet Computer (ICP), which is down 4.7% to $3.37.

On a more positive note, the best performers today include Zcash (ZEC), which increased by 12.8% to reach $419, and Canton (CC), which is up 9.8%, trading at $0.07446.

Investors are particularly focused on the upcoming announcement from the US Federal Reserve regarding interest rate cuts, expected to be announced this week. Many believe that any rate cut has already been priced into the market.

Key Resistance Levels for Bitcoin

Aurelie Barthere, Principal Research Analyst at Nansen, noted that all attention is currently on Bitcoin’s resistance level of $91,000. This level represents a convergence of the 20-day EMA and the prevailing downward trend observed since last October.

“I anticipate BTC will remain around this level following the FOMC+ meeting, without a significant breakout,” Barthere stated.

Nansen forecasts a rate cut that is already factored into market expectations, and they anticipate guidance from Federal Reserve Chair Jerome Powell highlighting a data-driven approach moving forward. Barthere mentioned, “Given the two-month lag in labor market data, the Fed will likely adopt a wait-and-see approach. I am expecting the terminal rate to remain near 3.0%, reflecting a split among committee members between hawkish and dovish stances.”

Looking ahead to early 2026, Barthere believes the announcement of Kevin Hassett as the next Fed Chair could have a bullish impact on cryptocurrency, especially considering that this decision was initially due this year but has been postponed.

What to Watch in the Upcoming Days

This morning, Bitcoin is trading at $90,480, reflecting a significant dip from an intraday high of $92,203 to a low of $89,735. A minor recovery saw it peak at $91,353 before settling at the current price.

Despite the recent fluctuations, Bitcoin has gained 4.1% over the past week, fluctuating between $86,418 and $93,855. Should it drop below $85,000, it might fall towards $78,000, leading to further declines. Conversely, if it manages to recover above $95,000 and $102,000, it could reach levels around $108,000.

Trading Overview

Ethereum also had a volatile trading day, currently priced at $3,122. It fell from a high of $3,171 to a low of $3,093, a level it reached twice today. Over the week, ETH has outperformed BTC with an 11.3% gain, trading in the $2,796-$3,222 range.

If Ethereum continues to decline, it may fall below $3,000, potentially heading towards $2,850. However, if it recovers above $3,300, there’s a possibility of rising further toward $3,450 and $3,560.

The overall crypto market showed a slight uptick on Tuesday morning, though it remains in a state of fear, with the fear and greed index climbing to 25 today from 24 yesterday. For the past 30 days, the index has varied in a narrow range, occasionally dipping into extreme fear, reflecting a market that is cautious and indecisive.

Crypto Fear and Greed Index

ETF Market Insights

The ETF market has begun the week on a downtrend. On Monday, US Bitcoin spot exchange-traded funds (ETFs) recorded $60.48 million in outflows, reducing the total net inflow to $57.65 billion. Among 12 Bitcoin ETFs, only one experienced inflows while three faced outflows, with BlackRock accounting for the entire positive inflow of $28.76 million.

In contrast, Grayscale encountered the largest outflow of $44.03 million, followed by Fidelity with $39.44 million, and VanEck with $5.76 million.

BTC ETF Flows

On December 8, US Ethereum ETFs saw a return to positive flows, breaking a short streak with $35.49 million in outflows, bringing the total net inflow to $12.91 billion. Of the nine funds, two generated inflows, while none had outflows. BlackRock received $23.66 million, and Grayscale took in $11.83 million.

ETH ETF Flows

Additionally, Michael Saylor’s company, Strategy, acquired 10,624 BTC for around $962.7 million at an average price of $90,615 per coin. This acquisition raises questions about whether the company anticipates a significant market rally. Strategy now holds a total of 660,624 BTC, which were purchased for about $49.35 billion at an average cost of $74,696 each.

Quick FAQ

The crypto market has seen a decline over the last 24 hours, coinciding with a drop in the US stock market, where by the end of Monday, December 8, the S&P 500 fell by 0.35%, the Nasdaq-100 by 0.25%, and the Dow Jones Industrial Average by 0.45%. Investors across the board are keenly awaiting the Federal Reserve's decision on interest rate cuts this week.

This decline follows a prior market increase, albeit it is relatively minor. The market continues to trade within a narrow range.