Why Is Crypto Down Today? – December 23, 2025

Market Overview - Total cryptocurrency market capitalization has declined by 2.4% over the past 24 hours, now standing at $3.06 trillion [1][7] - 24-hour trading volume remains elevated at $109.3 billion, despite the pullback in prices [1] Performance of Major Cryptocurrencies - Bitcoin (BTC) is down 2.4%, currently trading at $87,780, showing relative resilience compared to major altcoins [3][7] - Ethereum (ETH) has slipped 2.6%, trading at $2,968, while BNB is down 1.6% to $851.51 [3] - XRP has fallen 1.7% to $1.90, and Solana (SOL) recorded a 3.0% drop to $124.77 [4] - Dogecoin (DOGE) is down 1.5% to $0.1308 [4] Notable Gainers and Losers - RaveDAO leads the gainers, surging 37.0% to $0.6357, followed by Impossible Cloud Network with a 32.9% increase to $0.496 [5] - Midnight (NIGHT) stands out on the downside, plunging 23.2% to $0.0777, marking it as one of the weakest performers [4][5] Market Sentiment and Trends - Analysts indicate that the crash on October 10 marked a decisive bearish shift, wiping out approximately $1.3 trillion in market value [6][7] - The Fear & Greed Index currently stands at 29, indicating a sentiment of fear in the market [7] - US BTC spot ETFs experienced $142.19 million in net outflows, while US spot Ether ETFs saw $84.59 million in inflows, primarily driven by Grayscale funds [7]