Why Is Crypto Down Today? – October 8, 2025

Market Overview - The cryptocurrency market capitalization has decreased by 2.2%, now at $4.26 trillion, with 90 of the top 100 coins experiencing declines [1][2] - Total crypto trading volume is reported at $240 billion, which is higher than recent days [1] Price Movements - Bitcoin (BTC) has fallen by 1.8%, currently trading at $121,788 [2][3] - Ethereum (ETH) has decreased by 4.7%, now priced at $4,455 [2][3] - Dogecoin (DOGE) saw the largest drop of 5.7%, trading at $0.2462 [4] - Binance Coin (BNB) is the only coin in the top 10 that has increased, appreciating by 4.7% to $1,306 [3] - Plasma (XPL) experienced the highest drop among the top 100 coins, down 15.7% to $0.8776 [4] ETF Flows - US BTC spot ETFs recorded outflows of $23.81 million, while ETH spot ETFs saw inflows of $420.87 million [2] New Index Launch - S&P Global has introduced the S&P Digital Markets 50 Index, which tracks 50 major components in the crypto economy, including 35 publicly traded companies and 15 cryptocurrencies [5] Market Sentiment and Outlook - Market sentiment has shifted from the greed zone back to a neutral zone [2] - Analysts from Bitfinex suggest a bullish outlook for Q4, citing historical trends where October often sees market rallies following weak Septembers [6] - The "Uptober" phenomenon has historically delivered positive returns in nine of the past eleven years, with average gains of approximately 21% [6]