Why Is Crypto Down Today? – August 15, 2025

The crypto market is down today, with more than 90 of the top 100 coins turning red over the past 24 hours. In this time, the cryptocurrency market capitalization has decreased by 2.4% to $4.12 trillion. At the same time, the total crypto trading volume is at $267 billion, the highest it’s been in days.

Crypto Winners & Losers

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

Bitcoin (BTC) fell 2.4% in a day, now trading at $119,043, back to the level from two days ago.

At the same time, Ethereum (ETH) dropped 2.3%, now trading at $4,647.

Dogecoin (DOGE) saw the largest decrease in this category, falling 6% to $0.2307.

Cardano (ADA) follows with a drop of 4.9% to the price of $0.9524.

The smallest drop is Binance Coin (BNB)’s 1%, now changing hands at $852.

As for the top 100 coins, six of them recorded increases. The highest among these is Provenance Blockchain (HASH), having jumped 7.8% to $0.0288.

LEO Token (LEO) is next, with a rise of 3.3%, trading at $9.6.

On the other hand, Bonk (BONK) and Worldcoin (WLD) fell the most, dropping 8.6% each to the price of $0.00002456 and $1.02, respectively.

Meanwhile, US crypto-related policies remain foggy. Treasury Secretary Scott Bessent pivoted from his earlier comments that the US would not acquire BTC for its Strategic Bitcoin Reserve.

While initially commenting on Tuesday that the government will use confiscated Bitcoin for the reserve and will not be liquidating it, he walked back the statement later that same day, noting that the Treasury will be exploring ways to buy more BTC.

‘Bitcoin May Surpass $250,000 by the End of the Year’

According to crypto exchange Bitunix analysts, BTC’s daily chart previously broke above a descending trendline, jumping to $124,500 before retreating. The price currently stands above $119,000.

That said, $116,300 stands as “the daily bull–bear pivot.” Per heatmaps, $119,625 is a “magnet level,” with upper supply concentrated at $124,600–$126,800, the analysts argue. “Under policy noise, the market remains in range-trading mode.”

They continue: “In the short term, sustained acceptance above $119,625 could open tests of the $120,800 and $124,600 liquidation zones; repeated rejection may shift the focus back toward $117,900 and $115,000.”

Per Kyle Chassé, Founder of MV Global, BTC’s recent rally is “a testament to its evolving role in the global financial landscape and recent legislative developments.” It has moved beyond a speculative asset, with record-high global debt and mounting pressure on fiat currencies.

“This trend is amplified by its powerful network effect, which is fundamentally absent from traditional assets. As prominent institutions and figures invest, their financial stake is tied to bitcoin’s success, turning them into natural advocates who drive a self-reinforcing cycle of education and adoption,” the founder says, and continues:

“Regulatory clarity has also added to the tailwinds, with more institutional capital flowing in—much of which was missing last cycle. The demand is here, and I expect to see bitcoin surpass $250,000 by the end of the year.”

Gadi Chait, Head of Investment at Xapo Bank, commented on institutional demand, saying that it remains present, as shown by the broader trends, and despite specific daily ETF flow data varying by source. “Digital asset investment products have seen significant activity throughout 2025, with year-to-date flows remaining strong compared to the same period in 2024,” Chait writes.

Levels & Events to Watch Next

At the time of writing on Thursday morning, BTC trades at $119,043. The charts show a clear drop from the intraday high of $121,967 to the intraday low of $117,603.

Despite falling to the $117,000 level several times throughout the day, the price did manage to break through $118,000 and $119,000, recuperating in this range and holding it for now.

While the price may drop further to the $116,600 territory, followed by $115,000, it may conversely climb back over $120,000 in an attempt to reach its latest all-time high of $124,128, followed by $124,600.

Ethereum is currently trading at $4,647. It started the day at the low of $4,761, relatively close to its previous ATH of $4,878. However, it then retreated to the intraday low of $4,462, before recuperating to the current level.

Overall, ETH is still holding steady on the 7-day and 1-month horizon, having appreciated 19% and 48% in these timeframes, respectively. Analysts predict that the coin will keep pushing higher, soon surpassing the November 2021 ATH.

Furthermore, crypto exchange Coinbase argues that we may see a full-blown altcoin season soon, particularly with the rising institutional demand for Ethereum.

They noted a potential for a broader rally as September nears, with ETH set to benefit from it significantly.

Meanwhile, the crypto market sentiment has reentered the neutral zone. The crypto fear and greed index recorded a sharp decline from 68 yesterday to 59 today.

This suggests rising caution among investors as they await further signals, pointing to the direction the market will take.

Furthermore, the US BTC spot exchange-traded funds (ETFs) continued the inflow streak. Thursday saw positive flows of $230.93 million, bringing the total to $54.99 billion.

Only BlackRock and Grayscale saw positive flows of $523.74 million and $7.32 million, respectively. However, four funds noted outflows, two of which – Ark$21Shares and Fidelity –between $113,000 and $150,000 each.

On the same day, the US ETH ETFs took in $639.61 million. The cumulative total net inflow has now reached $12.73 billion, as of 14 August.

Four of the nine ETFs recorded flows, all of them positive. The highest among these is BlackRock’s $519.68 million, followed by Grayscale’s $60.73 million.

Meanwhile, the US Securities and Exchange Commission (SEC) has pushed back its review period for two Solana ETF filings to 16 October, originally set for 17 August.

The delay allows “sufficient time to consider” the proposals from Bitwise and 21Shares, the regulator argued.

Quick FAQ

1. Why did crypto move with stocks today?

The crypto market has decreased over the past day, while the stock market closed the previous trading day with a mixed picture. At Thursday’s closing time, the S&P 500 was up by 1.96%, the Nasdaq-100 decreased by 0.07%, and the Dow Jones Industrial Average rose by 0.025%. Following a major rally that pushed a number of US stocks to record highs, the latest inflation data led to refreshed tariff-related concerns, with investors worried about the economy.

1. Is this dip sustainable?

While macroeconomic developments may pull the market to either side for the long term, analysts argue that the current dip is a typical pullback, with more room for the prices to grow.