Why Is The Crypto Market Down Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) noted declines over the last 24 hours with the former registering a $111 billion drop. Short-term holders are adding selling pressure on BTC, impacting the rest of the market in the process. Among the altcoins MYX Finance (MYX) took a hit as it fell by 12.6% today.

In the news today:-

• Coinbase is investing in Indian crypto exchange CoinDCX to strengthen its footprint in India and the Middle East. The deal, valuing CoinDCX at $2.45 billion post-money, awaits regulatory approval for completion.
• BlackRock’s assets under management rose to $13.46 trillion in Q3 2025, up from $11.48 trillion last year. CEO Larry Fink highlighted that $4.1 trillion is now held in digital wallets globally, highlighting the growing integration of traditional finance and digital assets.

The Crypto Market Dips

The total crypto market cap declined by $111 billion in the past 24 hours, now standing at $3.78 trillion. Persistent skepticism among investors continues to drive selling pressure.

TOTAL is nearing the key support level of $3.73 trillion, and if bearish momentum persists, it could drop further to $3.67 trillion. Continued investor caution and macroeconomic uncertainty could exacerbate this decline.

Total Crypto Market Cap Analysis. Source: TradingView

However, if sentiment improves and buying volume increases, TOTAL could reclaim $3.81 trillion as a support level. A decisive move above this mark could push the overall market valuation toward $3.89 trillion and potentially $3.94 trillion, signaling renewed investor confidence and a short-term shift toward recovery.

Bitcoin Seems Rather Safe

Bitcoin’s price is hovering at $112,345, just below the $112,500 support level, as short-term holders continue adding selling pressure. This renewed wave of profit-taking has intensified volatility,

Despite this, Bitcoin’s price remains relatively stable, holding above the critical $110,000 mark. This level has served as a strong psychological and technical support zone, giving investors cautious optimism of recovery.

Bitcoin Price Analysis. Source: TradingView

For Bitcoin to regain bullish momentum, it must flip $115,000 into support, setting the stage for a push toward $117,261. Such a move would signal renewed investor confidence and potentially trigger buying interest.

MYX Finance Takes a Minor Hit

MYX recorded the steepest decline among major altcoins, falling 12.6% in the last 24 hours. Despite the drop, the impact remains contained as the token trades at $3.27, sitting below the $3.73 resistance.

Currently, MYX is trading well above its key support level at $2.64. The chances of falling below this threshold remain slim. Even if market conditions deteriorate further, MYX will likely consolidate above this range.

MYX Price Analysis. Source: TradingView

If MYX manages to flip $3.71 into a stable support level, the altcoin could regain upward momentum. A successful breakout above this resistance may drive MYX toward $4.00 or higher, marking a significant recovery and invalidating the prevailing bearish outlook.