Why Is Crypto Down Today? – September 26, 2025
The world cryptocurrency market cap has dipped 2.2% over the previous 24 hours, now standing at $3.83 trillion, in line with the newest information. Trading quantity is as much as $237.1 billion, however main digital property stay beneath downward stress as investor sentiment weakens.
TLDR:
- Crypto market slides deeper, with 9 of the highest 10 cash down;
- BTC at $109,027 and ETH at $3,894;
- Fear & Greed Index drops to 32, lowest since April;
- BTC faces deeper correction as long-term holders understand $3.4M in income;
- ETH struggles close to $3,900, with bulls needing $4,400 breakout to regain management;
- US BTC spot ETFs see $258.46M in outflows;
- US ETH spot ETFs submit $251.20M in outflows;
- SEC, FINRA launch probe into suspicious inventory actions tied to crypto treasury plans;
Crypto Winners & Losers
At the time of writing, 9 of the highest 10 cryptocurrencies by market cap are within the purple.
Bitcoin (BTC) has fallen 2.1% on the day to $109,252, down 6.6% over the previous week.

Ethereum (ETH) has dropped 3.3% previously 24 hours, buying and selling at $3,895 and logging a 13.9% weekly loss.
Solana (SOL) leads the day’s losses amongst main property, falling 4.6% to $193.51, extending its 7-day decline to twenty.7%.
XRP (XRP) is down 3.3% to $2.74, whereas BNB (BNB) has slid 4.8% to $941.32.
Dogecoin (DOGE) misplaced one other 3.5% to commerce at $0.2247, marking an 18.4% weekly decline.
Among trending tokens, Plasma, Aster, and Avantis are attracting consideration—however not for the fitting causes. Aster has slipped 5.4% to $1.86, whereas Avantis has taken a sharper dive, plunging 22.6% to $1.54, making it one of many largest each day losers.
On the flip facet, a number of lesser-known tokens have emerged because the day’s standout performers. SQD leads with a large 94.8% acquire, adopted carefully by Concordium, which is up 66.6%. Wrapped XPL can be on the rise, posting a 65.2% enhance.
Meanwhile, Bitcoin sentiment has sharply declined, with the Crypto Fear & Greed Index dropping to twenty-eight, the bottom since April, as BTC dipped under $109,000 and triggered contemporary liquidations.
The index fell 16 factors in a single day, reflecting rising worry available in the market regardless of costs nonetheless holding effectively above earlier lows, highlighting a widening hole between sentiment and worth motion.
Bitcoin Faces Potential Correction as Onchain Metrics Signal Exhaustion
Bitcoin is exhibiting indicators of a deeper correction, with long-term holders realizing income at ranges sometimes seen close to market cycle tops.
According to Glassnode, 3.4 million BTC in realized beneficial properties and slowing ETF inflows recommend investor exhaustion following the current Fed fee lower. BTC lately dropped to a four-week low of $108,700, falling under key assist ranges.
10x Research’s Markus Thielen warned that many investors positioned for a This autumn rally could also be caught off-guard, with present worth motion hovering close to earlier stop-loss zones. Glassnode additionally reported the revenue/loss ratio has hit excessive highs thrice this cycle—every beforehand marking a cycle peak—implying a cooling part is probably going.
Additional stress is seen within the SOPR and NUPL indicators. Some short-term holders at the moment are promoting at a loss, and the NUPL for newer buyers is nearing zero, which can result in additional capitulation. Analysts warning that renewed draw back stress may dominate except market momentum returns shortly.
Levels & Events to Watch Next
Bitcoin is buying and selling at $109,027 on the time of writing, largely flat on the day after a pointy decline from current highs. The asset is testing a key assist zone after shedding greater than $6,000 previously week, elevating issues of additional draw back if $108,700 provides method.
If BTC breaks under that stage, the following main assist sits at $107,000, adopted by $105,000. On the upside, bulls will look to reclaim the $111,000–$113,000 band to keep away from additional cascading liquidations. A sustained transfer above $115,000 is required to shift sentiment again in favor of patrons.
Meanwhile, Ethereum is buying and selling at $3,894, up 0.47% in a modest bounce after a heavy sell-off earlier within the week. ETH stays weak, hovering just under the important thing $4,000 psychological stage, after dropping from close to $4,750 earlier this month.

If ETH fails to carry above $3,850, assist lies at $3,750 and $3,600. A brief-term restoration may face resistance at $4,000, with additional hurdles at $4,200 and $4,400. Bulls want a break above $4,400 to regain management and problem the September highs.
Market sentiment has taken a pointy flip towards warning. The CMC Crypto Fear and Greed Index now sits at 32, slipping into the “Fear” class after hovering in “Neutral” territory for weeks. The index dropped from 41 yesterday and 52 final week, reflecting a rising sense of unease amongst buyers.
This decline in sentiment mirrors the broader market retracement, with BTC and ETH testing key assist zones. With merchants spooked by macro uncertainty and up to date worth drops, the shift suggests members are retreating to the sidelines, awaiting stronger alerts earlier than putting aggressive bets.

The US Bitcoin spot ETFs posted a pointy internet outflow of $258.46 million on September 25, halting their earlier restoration streak. Despite this setback, the cumulative internet influx stays substantial at $57.23 billion, with whole property beneath administration at $144.35 billion, accounting for six.64% of Bitcoin’s market cap.
Fidelity’s FBTC led the withdrawals with a $114.81 million outflow, adopted by Bitwise’s BITB with $80.52 million and ARKB with $63.05 million.
Grayscale’s GBTC additionally noticed $42.90 million pulled from the fund. Only BlackRock’s IBIT recorded a notable influx of $79.70 million. IBIT additionally led buying and selling exercise, with almost $4 billion in quantity, indicating sustained investor consideration regardless of the broader outflows.

The US Ethereum spot ETFs recorded a steep internet outflow of $251.20 million on September 25, reflecting elevated promoting stress and fading investor confidence. Despite this drop, cumulative internet inflows stay at $13.37 billion, whereas whole property beneath administration now sit at $25.59 billion, roughly 5.46% of Ethereum’s market cap.
Fidelity’s FETH noticed the most important single-day withdrawal at $158.07 million, adopted by BlackRock’s ETHA with a $30.27 million outflow.
Grayscale’s ETHE and ETH funds misplaced $26.14 million and $26.14 million, respectively. Bitwise’s ETHW additionally recorded $27.60 million in outflows. No ETF recorded any influx for the day, underscoring widespread profit-taking and warning amongst institutional ETH buyers.

Meanwhile, US regulators are probing unusual stock price movements forward of public bulletins by over 200 corporations planning crypto treasury methods. The SEC and FINRA are investigating potential breaches of insider buying and selling guidelines, significantly across the selective sharing of private data.
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US regulators are circling after shares that spiked forward of crypto treasury information, as non-crypto corporations rushed to load up on digital property.