Why Is Crypto Down Today? – December 9, 2025

After starting the week with an increase, the crypto market is down today, with the cryptocurrency market capitalisation falling by 1.2%. It currently stands at $3.17 trillion. 86 of the top 100 coins have gone down over the past 24 hours. At the same time, the total crypto trading volume is at $116 billion.

Crypto Winners & Losers

At the time of writing, all top 10 coins per market capitalization have seen their prices decrease over the past 24 hours.

Bitcoin (BTC) is down by 1.1% since this time yesterday, currently trading at $90,480.

Ethereum (ETH) is down by 0.3%, meaning that it’s practically unchanged, now changing hands at $3,122. This is the category’s smallest drop.

The highest fall among the ten is 2.1% by Tron (TRX), currently trading at $0.2811.

Solana (SOL)’s 1.9% is behind it, now standing at $133.

Looking at the top 100 coins, 86 have dropped over the past day.

At the red top we find Hyperliquid (HYPE), which fell 6.1% to the price of $28.2.

It’s followed by Internet Computer (ICP)’s 4.7% to $3.37.

The two best performers yesterday are also the two best performers today.

Zcash (ZEC) saw a 12.8% increase to the price of $419.

Canton (CC) is up 9.8%, now changing hands at $0.07446.

Traders are focused on the US Federal Reserve and the speed at which it will cut rates following the expected announcement, set for this week. That said, many argue that the cut is priced in.

Meanwhile, the US Commodity Futures Trading Commission (CFTC) has launched a pilot that lets Bitcoin, Ether, and USDC serve as collateral in derivatives markets.

$91,000 Resistance Level

Aurelie Barthere, Principal Research Analyst at Nansen, commented that “all eyes are on Bitcoin’s $91,000 resistance level.” This is where the 20-day EMA meets the downward trend from last October.

“Following the FOMC+ meeting, I expect BTC to hover around this level without a decisive break,” the analyst says.

Nansen expects a rate cut, which is already priced into markets, and guidance from the Federal Reserve Chair Jerome Powell emphasizing a data-dependent path forward.

“With a two-month lag in labor-market data, the Fed is likely to maintain a wait-and-see stance,” Barthere says. “In the Summary of Economic Projections, I’m expecting the terminal rate to hold near 3.0%, reflecting a Committee still divided between hawks and doves.”

Barthere concludes that “looking ahead to early 2026, the official announcement of Kevin Hassett as the next Fed Chair should be bullish for crypto, and it’s notable that this decision, originally expected this year, has been delayed.”

Levels & Events to Watch Next

At the time of writing on Tuesday morning, BTC stood at $90,480. There was a notable plunge earlier in the day from the intraday high of $92,203 to the low of $89,735. It then recorded another smaller peak at $91,353 before pulling back to the current price.

BTC is still green in the 7-day time frame, having appreciated 4.1% and moving between $86,418 and $93,855.

A drop below $85,000 could lead to the $78,000 which would open doors for further decreases. However, if BTC recovers above $95,000 and then $102,000, it could proceed to the $108,000 level.

Bitcoin Price Chart. Source: TradingView

Ethereum is currently changing hands at $3,122. It saw a lot choppier trading day than BTC. It decreased from the day’s high of $3,171 to the low of $3,093, the level it hit twice today.

Over the past week, ETH has outperformed BTC again, having increased by 11.3%. It traded in the $2,796–$3,222 range.

If it continues falling, the price could retreat below $3,000 and towards $2,850. On the other hand, if it reclaims the $3,300 level, it may keep rising to $3,450 and $3,560.

Meanwhile, the crypto market saw a minor increase on Tuesday morning, staying within the fear territory. The crypto fear and greed index rose to 25 today compared to 24 yesterday.

That said, it’s been moving in a tight range over the past 30 days, occasionally dropping into the extreme fear zone.

This highlights notable caution and indecisiveness, much in line with the market conditions overall.

ETFs Post Another Mixed Day, Strategy Buys More BTC

The ETF week has begun in the red. On Monday, the US BTC spot exchange-traded funds (ETFs) recorded $60.48 million in outflows. With this, the total net inflow pulled back to $57.65 billion.

Of the twelve BTC ETFs, one recorded inflows, and three saw outflows. BlackRock accounts for the entirety of the positive flows, adding $28.76 million.

At the same time, Grayscale saw the highest outflows of $44.03 million, followed by Fidelity’s $39.44 million and VanEck’s $5.76 million.

Moreover, the US ETH ETFs posted positive flows on 8 December, breaking a brief red streak with $35.49 million in outflows. The total net inflow now stands at $12.91 billion.

Of the nine funds, two recorded inflows, and none saw outflows. BlackRock took in $23.66 million, and Grayscale took in $11.83 million.

Meanwhile, Michael Saylor’s company Strategy has purchased additional 10,624 BTC for approximately $962.7 million at an average price of $90,615 per coin. The move has many wonder if the company is expecting a notable rally.

This latest acquisition brings Strategy’s total holdings to 660,624 BTC, bought for $49.35 billion at an average price of $74,696.

Quick FAQ

Why did crypto move with stocks today?

The crypto market recorded a decrease over the past 24 hours, and the US stock market closed its previous session lower. By the closing time on Monday, 8 December, the S&P 500 was down by 0.35%, the Nasdaq-100 decreased by 0.25%, and the Dow Jones Industrial Average fell by 0.45%. All eyes are on the Federal Reserve, with investors across the board awaiting its decision on the interest rate cut this week.

Is this drop sustainable?

This is an expected drop following an increase in the market, albeit a smaller one. The market continues trading in a tight range.

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