Why Is Crypto Down Today? – October 28, 2025

Market Overview - The cryptocurrency market capitalization has decreased by 1.1%, now standing at $3.95 trillion [1][2] - Nearly 90 of the top 100 coins have experienced price drops over the past 24 hours, with total trading volume at $156 billion [1][2] Price Movements - Bitcoin (BTC) has fallen by 1.2%, currently trading at $114,289 [2][3] - Ethereum (ETH) is down by 2.1%, now priced at $4,120 [2][3] - Dogecoin (DOGE) recorded the highest drop among the top coins, decreasing by 2.7% to $0.2006 [3] - XRP is the only coin in the top 100 that has seen an increase, rising by 0.4% to $2.64 [4] Notable Performers - Pi Network (PI) has experienced a significant decline of 21.1%, now trading at $0.2287 [4] - Figure Heloc (FIGR_HELOC) has appreciated by 38.8%, currently at $1.36 [4] - Hedera (HBAR) has risen by 16.3%, now priced at $0.2114 [4] Market Sentiment and Developments - Market sentiment remains cautious, with investors digesting recent events and awaiting further signals [2] - Ledn has issued over $1 billion in Bitcoin-backed loans this year, indicating a rise in crypto credit demand as investors prefer borrowing over selling [5] - Citi and Coinbase are collaborating to develop digital asset payment capabilities for institutional clients, potentially bridging Wall Street with the digital asset ecosystem [5]