“The crypto market has been struggling to regain momentum since October’s pandemonium, and Bitcoin appears to be fighting one battle after another, dragged down by US dollar strength and higher Treasury yields, long-term holders selling, and macro uncertainty,” says Nic Puckrin, crypto analyst and co-founder of The Coin Bureaunder.
The crypto market is down today and by a significantly higher percentage than over the past few days, with the cryptocurrency market capitalization decreasing by 5.6%, now standing at $3.38 trillion. 96 of the top 100 coins have dropped over the past 24 hours. At the same time, the total crypto trading volume is at $254 billion.
Crypto Winners & Losers At the time of writing, all top 10 coins per market capitalization have seen their prices decrease over the past 24 hours. Bitcoin (BTC) has dropped by 6.2% since this time yesterday, currently trading at $97,033.
Ethereum (ETH) is down by 9.2%, now changing hands at $3,208. This, along with Lido Staked Ether (STETH), is the highest fall in the category. Solana (SOL) is in the second place, having dropped 8.6% to the price of $142. The smallest fall is 2.3% by Tron (TRX), which now stands at $0.2927.
When it comes to the top 100 coins, only four are green. Among these, Zcash (ZEC) appreciated the most, rising to the price of $507. Leo Token (LEO) follows with a 2% rise to $9.17. On the other hand, three coins saw double-digit drops. Story (IP) fell 15%, now trading at $3.34. It’s followed by Aave (AAVE)’s 13.6% and Hedera (HBAR)’s 10.4% to $185 and $0.1606, respectively. ‘Bitcoin Appears To Be Fighting One Battle After Another’ Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, argues that the “crypto market has been struggling to regain momentum since October’s pandemonium.” “Bitcoin appears to be fighting one battle after another, dragged down by US dollar strength and higher Treasury yields, long-term holders selling, and macro uncertainty,” he says. Puckrin finds it “unsettling” to see crypto and tech stocks diverging when they typically move in lockstep. This dynamic shows that BTC “isn’t just a proxy for the Nasdaq.” Rather, it’s more sensitive to macro headwinds and liquidity concerns and is “perfectly positioned to break out once those concerns dissipate.”
Notably, as the US re-opens and data starts flooding back in, “we may see the BTC price wobble over the coming weeks.” The real test could be the interest rate decision in the US on December 10. Still, “it remains likely that the news will be positive, which could set the stage for a Santa rally in crypto and other risk assets,” Puckrin concludes. Moreover, Dom Harz, co-founder of BOB, commented on institutional involvement in BTC as the coin’s price drops below $100,000. “Despite recent price movement, 2025 has been the year of institutional investment into digital assets, with institutions now holding over 4 million BTC,” Harz writes in an email commentary. These institutions are “increasingly looking to store excess cash in DeFi vaults for higher-yield opportunities. These two movements are converging with Bitcoin DeFi; moving the world’s biggest digital asset beyond a store of value and into a yield-generating asset.”
He continues: “As this mainstream appetite for DeFi grows, serious technological advancements are unlocking Bitcoin’s utility. Key players in institutional crypto and Bitcoin DeFi adoption are opening up access to BTCFi, where institutions can leverage yield-bearing opportunities for their BTC holdings. Bitcoin DeFi is poised to be at the forefront of the global financial system – from Wall Street to Main Street.” Levels & Events to Watch Next At the time of writing on Friday morning, BTC fell below the $100,000 mark and to the $96,000 level, now standing at $97,033. The coin has dropped from the intraday high of $103,737 to the low of $96,170. It’s now down 4.7% in a week, 13.7% in a month, and 22.9% from its all-time high. We may see BTC pull back towards $94,500 and further towards the $90,000 level. A higher plunge could drag it lower. Conversely, if there is a change in course, the coin could climb back above $100,000 and move towards $103,000.