Why is the Crypto Market Down?
The crypto market has been down for a couple of days after starting 2025 on a high note.
With negative performance for most cryptocurrencies, the red color takes over the crypto dashboard. But is that significant alone? Not really.
Here is a market analysis of some of the major cryptocurrencies impacted by the current market crash, and what the numbers can tell us about their actual performance in 2025.
Crypto Crash Market Analysis: Performance of Major Cryptocurrencies
Bitcoin (BTC)As the market leader, Bitcoin has experienced a price correction:
Low on January 7: $92,540Current Price: Hovering near $93,400, down 2.96% in the last 24 hours.
Despite the drop, Bitcoin’s current price is higher than its lows from December 2024 and January 2024.
Ethereum (ETH)
Ethereum, the second-largest cryptocurrency, has also faced bearish pressure:Low on January 7: $3,208
Current Price: Trading near $3,320, down 2.50% in 24 hours.
Like Bitcoin, Ethereum remains resilient compared to its previous month and year lows.
Cardano (ADA)Among the top altcoins, Cardano has been one of the hardest hit:
Current Price: $0.91, down 8.52% in the last 24 hours.
Cardano’s significant decline highlights the broader struggles of altcoins in this downturn.
Dogecoin (DOGE)
As the leading meme coin and one of the top 10 cryptocurrencies by market cap, Dogecoin has not been spared:
Current Price: $0.33, down 4.96% in 24 hours.
Dogecoin’s sell-off reflects broader market sentiment affecting both altcoins and meme coins alike.
Comparison with Past LowsDespite the corrections, Bitcoin and Ethereum continue to trade at stronger levels compared to their lows from December 2024 and January 2024:
Bitcoin (BTC):
By TradingView – BTCUSD_2025-01-09 (All)January 2024 Low: $38,514December 2024 Low: $91,378Current Price: $93,417Ethereum (ETH):
By TradingView – ETHUSD_2025-01-09 (All)January 2024 Low: $2,095December 2024 Low: $3,099Current Price:
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