What Is Causing the Decline in Cryptocurrency Today? – November 12, 2025

The cryptocurrency market is experiencing a decline today, with the total market capitalization falling by 1.8%, now at $3.57 trillion. Similar to yesterday, a significant portion of the top 100 cryptocurrencies have decreased in value over the last 24 hours. Concurrently, the overall trading volume in the crypto space is at $154 billion.

TLDR:

The cryptocurrency market capitalization has decreased by 1.8% on Wednesday morning (UTC);

87 out of the top 100 coins and 9 of the top 10 coins are down today;

BTC has dropped by 1% to $103,854, while ETH has fallen by 2.6% to $3,459;

Crypto traders and investors are remaining cautious despite recent news from the US government;

‘The fundamentals of Ethereum have never appeared stronger’;

Ethereum is ‘becoming Wall Street’s preferred blockchain’;

As overvalued technology stocks face potential corrections, crypto may gain;

US BTC spot ETFs experienced inflows on Tuesday amounting to $532.98 million, while ETH ETFs saw no inflows;

Bitwise’s proposed spot Chainlink ETF seems to be nearing launch;

Crypto market sentiment has again dipped into the fear zone.

Crypto Winners & Losers

As of this writing, 9 of the top 10 coins by market capitalization have experienced price declines over the past 24 hours.

Bitcoin (BTC) has decreased by 1% since yesterday, currently trading at $103,854.

Bitcoin (BTC)24h7d30d1yAll time

Ethereum (ETH) has fallen by 2.6%, now trading at $3,459. This represents the second-largest decline.

The largest drop in this category is 3.2% by Solana (SOL), which is currently priced at $977.

The only coin in the green is Tron (TRX), which has risen by 0.5% to a price of $0.2994.

Among the top 100 coins, 87 are in the red. Official Trump (TRUMP) experienced the most significant decline, dropping 6.6% to $7.81.

This is followed by Arbitrum (ARB), which fell 5.6% to $0.2789.

Conversely, Canton (CC) saw the largest increase, rising 25.4% to $0.1379, while Aster (ASTER) increased by 7.9%, now priced at $1.16.

While optimism is growing in various markets regarding the potential end of the US government shutdown, crypto traders and investors remain cautious, with sentiment subdued due to weak ETF inflows.

Large Sums of Idle Capital May Be Coming Back

Glassnode analysts have noted that BTC is positioned between $100,600 and $108,500, which serve as support and resistance levels.

A breach of either level is “likely to determine the next directional trend,” they state.

#Bitcoin is trading around $104K stuck between the 0.85 and 0.75 cost-basis quantiles ($108.5K / $100.6K). These levels have historically acted as support and resistance, with a break of either likely to define the next directional trend.
https://t.co/ZIPAeR4AN2 pic.twitter.com/wJ4jH9PTvQ

— glassnode (@glassnode) November 12, 2025

Regarding ETH, Kevin Rusher, founder of RAAC, a real-world asset (RWA) lending and borrowing ecosystem, observed that there is negative sentiment due to ETH’s decline from nearly $5,000. However, he asserts, “the fundamentals of Ethereum have never looked stronger, driven by significant growth in stablecoins.”

According to DeFi Llama, the total value locked in stablecoin RWA protocols on Ethereum rose from $133.8 billion at the beginning of August to over $167.5 billion on 11 November. However, during the same timeframe, the total crypto market cap decreased from approximately $3.85 trillion to $3.67 trillion.

Additionally, last month, Ethereum stablecoin volume reached a record $2.8 trillion “as the broader market slowdown appears to have prompted traders to seek further yield opportunities through stablecoins on Ethereum-based DeFi protocols.”

Furthermore, Ethereum is also “emerging as Wall Street’s preferred blockchain due to the potential for stablecoins as a ‘viral’ use case for payments,” Rusher adds.

Meanwhile, a Bitunix analyst remarked on the AI investment boom possibly entering its late-stage bubble phase. “If the US AI sector continues to cool, both BTC and ETH could attract renewed flows from hedging and speculative capital.”

They further noted: “As overvalued tech stocks face correction risks, some capital may rotate out of equities and flow into high-beta assets — with crypto emerging as a natural alternative.”

Levels & Events to Watch Next

As of Wednesday morning, BTC is trading at $103,854. The coin has decreased from an intraday high of $105,466 to an intraday low of $102,461, before partially recovering to the current price.

Notably, over the past week, the price dipped below $100,000, reaching $99,376. The highest point during this period was $106,562. It has increased by 2.8% over the week.

If BTC continues to decline, it may reach $101,400 followed by $99,200. On the other hand, a rise above $104,500 could confirm renewed bullish momentum, targeting $107,500 and $110,500.

Bitcoin Price Chart. Source: TradingView

Ethereum is currently trading at $3,459. It has experienced a more gradual decrease from the day’s high of $3,591 to the low of $3,408. It remains within a relatively narrow range.

In the 7-day timeframe, ETH fluctuated between a low of $3,216 and a high of $3,633. It has risen by 5.3% over the week.

The price could still drop below $3,400 and approach $3,250. However, if it surpasses $3,600, bullish momentum could lead it towards $3,850.

Ethereum (ETH)24h7d30d1yAll time

Moreover, the sentiment in the crypto market has decreased once more, following a brief rise yesterday. It remains within the fear zone. The crypto fear and greed index is at 26 today, down from 32 a day ago.

Despite favorable news in recent days, numerous economic and geopolitical factors continue to concern investors. Thus, the low index is not unexpected given the lack of overall stability.

Enhancements in liquidity and volatility would be advantageous for prices, as well as for sentiment.

Source: CoinMarketCap

ETFs See a Mixed Picture

On Tuesday, US BTC spot exchange-traded funds (ETFs) recorded inflows of $532.98 million. As a result, the total net inflow has risen above $60 billion, now at $60.49 billion.

Five out of the 12 BTC ETFs reported inflows, with no outflows recorded. The top gainers include BlackRock and Fidelity, with inflows of $224.22 million and $165.86 million, respectively.

Source: SoSoValue

Conversely, US ETH ETFs experienced outflows of $107.18 million on 11 November. This change has reduced the total net inflow to $13.75 billion.

Among the nine funds, five reported negative flows, and none saw positive flows. The largest outflows were from Grayscale and BlackRock, which lost $75.75 million and $19.78 million, respectively.

Source: SoSoValue

Meanwhile, Bitwise’s proposed spot Chainlink ETF has appeared on the Depository Trust and Clearing Corporation (DTCC) registry.

While this does not guarantee approval from the US Securities and Exchange Commission (SEC), it is generally viewed as a strong indication that a product is nearing its launch.

LATEST: Bitwise Chainlink ETF advances with DTCC listing approval.$LINK pic.twitter.com/AW4u9flSrf

— Nathan Jeffay (@NathanOnCrypto) November 11, 2025

Quick FAQ

1. Why did crypto move against stocks today?

The cryptocurrency market has declined again over the past day, while the stock market closed higher on Tuesday. By the end of trading on 11 November, the S&P 500 was up by 0.21%, the Nasdaq-100 fell by 0.31%, and the Dow Jones Industrial Average increased by 1.18%. Most major indexes finished higher amid optimism that the US government shutdown would soon conclude.

1. Is this drop sustainable?

The sustainability of the current decline is uncertain. While it may continue for a few days, analysts anticipate that prices will rise in the near future.

You may also like: (LIVE) Crypto News Today: Latest Updates for November 12, 2025 The broader cryptocurrency market extended its decline over the past 24 hours, with the AI sector plunging 6.33% to lead the losses, according to SoSoValue data. DeAgentAI (AIA) tumbled nearly 27% after its recent rally, while FET and Fartcoin dropped over 11% each. Bitcoin slid 2.61% to trade below $104,000, and Ethereum lost 3.71%, slipping under $3,500. Other sectors also saw notable weakness, Layer 1 tokens fell 4.82%, Meme coins 4.85%, and Layer 2s 5.38%, though a few outliers like Nano (XNO) and…

The post Why Is Crypto Down Today? – November 12, 2025 appeared first on Cryptonews.