Why Is Crypto Down Today? – September 16, 2025

The crypto market is down today, with the cryptocurrency market capitalization dropping another 0.5% to $4.11 trillion. Most of the top 100 coins have decreased over the past 24 hours. At the same time, the total crypto trading volume is at $159 billion.

Crypto Winners & Losers

At the time of writing, nine of the top 10 coins per market capitalization have decreased over the past 24 hours.

Bitcoin (BTC) fell 0.5% at the time of writing, currently trading at $115,864. This is among the smallest drops in this category.

Ethereum (ETH) is down 2.6%, now changing hands at $4,508. It’s the second-highest drop in the category.

The highest decrease is 3% by Dogecoin (DOGE), currently standing at $0.2669.

One coin, however, is green, but its change is so low that it’s practically unchanged. Binance Coin (BNB) is up 0.2% to $931.

When it comes to the top 100 coins, of the 12 green coins, Pump.fun (PUMP) appreciated the most: 6.6% to $0.00834.

Provenance Blockchain (HASH) follows with an increase of 5.8% to the price of $0.03772.

On the other side, Ethena (ENA) and Pudgy Penguins (PENGU) decreased the most among the top 100. They’re down 7.2% and 5.8% to $0.6998 and $0.03299.

Meanwhile, Tom Lee, chairman of Ethereum treasury BitMine, argued that Bitcoin and Ethereum could see ‘a monster move’ if the US Federal Reserve approves the much-anticipated rate cut this week.

‘All Eyes on the US Fed Meeting’

Bitunix analysts commented that markets widely expect the US Federal Reserve to announce its first rate cut since last year this Wednesday.

With internal policy divisions and political pressure intertwining, they write, the Federal Open Market Committee (FOMC) decision “could spark sharp volatility.” Traders should reduce leverage exposure and “closely watch the battle between BTC 117,000 resistance and 114,000 support.”

From a technical perspective, the analysts continue, “BTC liquidation heatmaps show price rallying toward 116,800, with heavy liquidation clusters between 117,000–118,000 forming a major near-term resistance band. Support lies at 114,000 and 111,000, with a potential drop toward the 108,500 liquidity zone if these levels break.”

Moreover, Bitget’s Chief Analyst Ryan Lee adds that a rate cut would reduce borrowing costs and boost liquidity, providing a tailwind for risk assets.

“Under this scenario, Bitcoin could climb toward $150,000–$200,000 by year-end, while Ethereum may advance to the $5,800–$8,000 range on the back of ETF rotations and network expansion. Together, these trends reflect a maturing market where Bitcoin and Ethereum drive industry growth in tandem, provided inflation stays contained and no major geopolitical shocks disrupt sentiment.”

Levels & Events to Watch Next

At the time of writing on Tuesday morning, BTC trades at $115,864. The coin has seen a choppy trading day. It started at $115,895, then dropped to the intraday low of $114,509, before climbing to $116,000.

BTC is consolidating at $116,000–$116,750, which is below key resistance. Should it fall below $114,400, it could see further drops to the $112,000 and $108,250 levels.

On the other hand, moving above $116,750 could lead to $119,500, followed by $122,200 and $124,500.

Ethereum is currently trading at $4,508. It started the day with the intraday high of $4,604, before dropping to the low $4,476, and trading relatively sideways since.

Investors are now looking to see if the coin will move above $4,550 and toward $4,600 and $4,700. It’s looking at the $4,800–$4,880 resistance zone. Conversely, it may drop below $4,400 and toward $4,250.

Meanwhile, the crypto market sentiment has remained mostly unchanged over the past few days. The crypto fear and greed index moves between 50 and 53, standing at 50 today compared to 50 yesterday.

The sentiment remains somewhat bullish, though investors are cautious, waiting for further economic and geopolitical signals.

Moreover, the US BTC spot exchange-traded funds (ETFs) recorded the 6^th day of inflows on Monday, of $260.02 million. The cumulative net inflow has now reached $57.09 billion.

Four of the 12 ETFs saw inflows, and one recorded outflows. BlackRock is responsible for the large majority of the day’s positive flows, taking in $261.82 million. At the same time, Bitwise let go of $18.81 million, respectively.

Additionally, the US ETH ETFs recorded inflows for the 5^th day in a row, of $359.73 million. Two of the nine funds saw inflows, and one saw outflows. The total net inflow has reached $13.72 billion.

BlackRock and Grayscale took in $363.19 million and $10 million. Fidelity is $13.46 million in the red.

Meanwhile, Next Technology Holding, China’s largest public company holding Bitcoin, plans to raise up to $500 million through a common stock sale. They intend to buy more BTC and fund other corporate initiatives using the funds.

It currently holds 5,833 BTC and may move above 8,000 BTC with this latest move.

Quick FAQ

1. Why did crypto move against stocks today?

The crypto market has decreased over the past day, while the stock market increased on its previous day of trading, rising to record highs. By the closing time on Monday, the S&P 500 was up by 0.47%, the Nasdaq-100 increased by 0.84%, and the Dow Jones Industrial Average rose 0.11%. Investors are confident that the US Federal Reserve will announce an interest rate cut on Wednesday.

2. Is this drop sustainable?

The market is still consolidating, and this is likely to continue for a bit longer. The markets now await Wednesday before making further moves, though many analysts argue that the rate cut news is already largely priced in.

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