Why Is Crypto Down Today? – August 18, 2025

The crypto market is down today, with 96 of the top 100 coins going red over the past 24 hours. Over this period, the cryptocurrency market capitalization has decreased by 2.8% and below $4 trillion, now standing at $3.97 trillion. At the same time, the total crypto trading volume is at $141 billion.

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, dropping below the $116,000 mark, now trading at $115,412. This is the smallest decrease in this category.

At the same time, Ethereum (ETH) dropped 4.8%, now trading at $4,256. This is the second-highest fall in this category.

Solana (SOL) recorded the highest decrease of 5.7%, currently changing hands at $181.41.

Looking at the top 100 coins, four recorded increases. The highest among these is Monero (XMR)’s 4.6% to $273.

It’s followed by Provenance Blockchain (HASH), which rose 3.8% to the price of $0.02667.

On the other side, Mantle (MNT) decreased the most: 9.2% to $1.25.

Bonk (BONK) is next with a fall of 7.6%, trading at $0.0000225.

Meanwhile, Galaxy Digital CEO Mike Novogratz argued that Bitcoin hitting $1 million in the near term would not be a good thing. This would reflect a US economy collapse and not the crypto’s success.

“People who cheer for the million-dollar Bitcoin price next year, I was like, guys, it only gets there if we’re in such a shitty place domestically,” Novogratz said. “I’d rather have a lower Bitcoin price in a more stable United States than the opposite.”

Stories and lessons from a decade in crypto with Mike @Novogratz.

We talk about $GLXY, the 80,000 bitcoin transaction, whether Mike has any investing regrets, maxis and altcoin communities, Bitcoin's roadmap to $1 million and much more.

Timecodes:
00:00 Meet Mike Novogratz:… pic.twitter.com/4HrOi1juE5

Furthermore, the community behind the AI-focused blockchain project Qubic voted to target Dogecoin (DOGE) with its next 51% attack. This comes days after the seemingly successful attack on the Monero network.

The attack forced Kraken to temporarily suspend Monero deposits, citing “potential risk to network integrity.”

The #Qubic community has chosen #Dogecoin. pic.twitter.com/EnevIZUAw5

Glassnode analysts commented on Ethereum’s recent performance. Its latest rally has stalled at the level last seen in March 2024.

“This threshold has repeatedly acted as resistance in prior cycles, highlighting it as a key area of overheated conditions and selling pressure,” they said.

#Ethereum’s rally once again stalled at the +1σ Active Realized Price (~$4.7K) – a level last breached in Mar ’24. This threshold has repeatedly acted as resistance in prior cycles, highlighting it as a key area of overheated conditions and selling pressure. pic.twitter.com/gG1jd7zKk6

Commenting on ETFs, Glassnode noted that ETH spot ETFs recorded some 649,000 ETH in net inflows last week. This is “the strongest on record,” as the price closed near $4,500.

“After touching $4.74K and pulling back over the weekend, today’s flows will show if institutions continue buying the dip or lock in profits,” the analysts said.

As for BTC spot ETFs, they broke a two-week outflow streak, with 3,400 BTC in inflows. Notably, “today’s flows will be key in gauging whether institutions sustain demand or shift back to profit-taking.”

#BTC spot ETFs recorded +3.4K $BTC inflows last week, ending a two-week outflow streak. With price pulling back now, today’s flows will be key in gauging whether institutions sustain demand or shift back to profit-taking. pic.twitter.com/iNRZeu32xy

At the time of writing on Thursday morning, BTC trades at $115,412. The highest point it’s seen over the last day is $118,514, trading relatively sideways for a few hours before plunging to $115,133.

The coin is down 5.4% in a week and 2.4% in a month. Overall, it’s up 94% over the past year.

Ethereum is currently trading at $4,256. Over the past day, the coin has been trading between $4,249 and $4,563.

This is compared to the 7-day range of $4,180 at the lowest point and the intraweek high of $4,776.

ETH is down 0.9% over the past seven days, while it’s up 19% in a month and 64% in a year.

Meanwhile, the crypto market sentiment has remained in the neutral zone over the weekend, dropping slightly over the past three days. The crypto fear and greed index now stands at 56 today.

The caution among investors continues rising. For now, the markets are positioning for any incoming signals that would point to the direction the market might take in the short term. In the long term, investors still seem confident that the bull will run at least until the end of this year.

Furthermore, following seven days of inflows, the US BTC spot exchange-traded funds (ETFs), recorded outflows on Friday. By the end of the trading day, $14.13 million bled out of the funds.

While BlackRock saw positive flows of $114.4 million, Grayscale and Ark&21Shares lost $81.82 million and $46.71 million, respectively.

On the same day, the US ETH ETFs also broke their eight-day streak with a loss of $59.34 million. The cumulative total net inflow has now reached $12.73 billion, as of 14 August.

Only BlackRock saw inflows of $338.09 million, while five funds turned red. Fidelity and Grayscale saw the highest outflows of $272.23 million and $101.74 million, respectively.

Meanwhile, Metaplanet has added another 775 BTC to its reserves, bringing its total holdings to 18,888 BTC.

Analysts say the firm’s move could encourage other Asian corporates to explore Bitcoin as part of their treasuries, especially with the rising regulatory clarity.

*Metaplanet Acquires Additional 775 $BTC, Total Holdings Reach 18,888 BTC* pic.twitter.com/2WI5ORPSTp

Moreover, Japan is preparing to approve its first yen-denominated stablecoin this autumn.

1. Why did crypto move with stocks today?

The crypto market has decreased over the past day, while the stock market showed a mixed performance on the previous trading day. By Friday’s closing time, the S&P 500 was down by 0.29%, the Nasdaq-100 decreased by 0.51%, and the Dow Jones Industrial Average rose by 0.078%. The latter market is taking a rest following a major rally that pushed a number of US stocks to record highs. Investors also hope that the Federal Reserve will cut interest rates in September.

2. Is this dip sustainable?

The current dip is within the lower range that the analysts have previously predicted. The pullback may continue in the near term. Conversely, it’s also expected that the prices will continue increasing in the mid-term.

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