Why Is Crypto Down Today? – September 15, 2025

The crypto market is down at present, with the cryptocurrency market capitalization dropping 0.4% to $4.15 trillion. Most of the highest 100 cash have decreased over the previous 24 hours. At the identical time, the full crypto buying and selling quantity is at $130 billion.

Crypto Winners & Losers

At the time of writing, 9 of the highest 10 cash per market capitalization have decreased over the previous 24 hours.

is down 0.6%, now buying and selling at $4,642. It’s the third-best gainer within the class.

The highest lower is 4.5% by Dogecoin (DOGE), presently standing at $0.2769.

It’s adopted by Solana (SOL), which is down 2.2%, now buying and selling at $241.

When it involves the highest 100 cash, of the 14 inexperienced cash, Monero (XMR) is up essentially the most: 5.4% to the value of $303.

Flare (FLR) appreciated 4.9% to $0.02405, whereas the remainder of the inexperienced cash are up 1% and fewer.

On the opposite aspect, Worldcoin (WLD)’s 8% drop to $1.59 is the very best within the class.

Pump.fun (PUMP) follows with a lower of 6.7% to the value of $0.007828.

Meanwhile, Alex Thorn, head of firmwide analysis at Galaxy Digital, argued that the United States could soon launch its Strategic Bitcoin Reserve (SBR), probably earlier than the tip of 2025. “The market appears to be utterly underpricing the chance of such an announcement,” he famous.

‘The Bull Run’s Not Over’

Sean Dawson, head of analysis at onchain choices platform Derive.xyz, argued that we haven’t reached the highest of this cycle, regardless of rising hypothesis and the elevated volatility within the coming weeks.

“While some are apprehensive that ‘the music is about to cease,’ the fact is extra nuanced,” he writes. “We may even see volatility and consolidation in September, pushed by fiscal year-end flows and a few profit-taking amongst ETH DATs. But the structural backdrop – falling charges, institutional positioning, and bullish derivatives markets – suggests there’s nonetheless substantial upside forward. This is probably going not the cycle high.”

On common, BTC returns -2.9% in September. This is essentially as a result of pure promoting stress across the US monetary year-end, Dawson explains. “We’re already seeing indicators of that stress within the knowledge. I’d argue we’re solely midway via what might be a really highly effective This fall rally.”

Meanwhile, choices markets are exhibiting sustained bullish sentiment, Dawson continues. For BTC, open curiosity is stacked round $140,000, $150,000, $160,000. and $200,000 strikes for the 26 December expiry. Call open curiosity outnumbers places practically 2.5 to 1 (64K vs. 26K). For ETH, there’s a broad unfold of bullish strikes from $4,000 to $7,000.

“That positioning issues – possibility boards allow us to derive the market’s consensus likelihood of worth outcomes,” Dawson writes. “And proper now, they’re saying there’s a 40% likelihood ETH closes above $5,000 by year-end, and 20% likelihood it settles above $6,000. For BTC, the market provides a 37% likelihood of $125,000 or greater by the identical time.”

Levels & Events to Watch Next

At the time of writing on Friday morning, BTC trades at $116,309. The worth moved from the intraday low of $114,915 to the high of $116,689, earlier than barely correcting to the present level.

Looking on the weekly costs, the vary from $110,870 to $116,705, which means that the coin shouldn’t be removed from the intraweek high.

The worth has been shifting to check the $117,500 degree. Clearing that might probably lead it to $119,500, adopted by $122,200 and $124,500. However, because the market has turned purple, if BTC falls beneath $114,800, it might transfer in direction of the $110,856 degree, which is its vital structural flooring.