The question of why is crypto down today after Bitcoin has dipped nearly 10% in the past 24 hours is on every investor’s mind. On Friday, Bitcoin plunged below $82,000, erasing $180 billion from its market cap, while the total crypto market cap has dropped by over $300 billion.
Bitcoin hit a fresh all-time high of $126,296 on October 6, and weeks later, it is trading over 35% below that level. The major reason for this extended sell-off was that expectations for a US Federal Reserve rate cut had weakened, and the market is fearing tech-sector overvaluation.
Source: Google
Macro-economic and valuation factors have driven Bitcoin below $82k, erasing its YTD gains and sending it down 6.54% so far this year. Other altcoins have also been hit by the bearish pressure, with ETH, the second-largest cryptocurrency, down 43% from its October high.
While panic spreads in the crypto market, savvy investors are watching projects like Bitcoin Hyper that are still sustaining the bear carnage. Despite weak market conditions, the HYPER presale has raised more than $28.2 million and is approaching its next price tier quickly.
Weakening Rate Cut Expectation and Institutional Outflow
The crypto market has seen one of the deadliest sell-offs in recent weeks in 2025. This decline has left investors questioning why is crypto down today, as overall market sentiment weakened amid growing economic uncertainty.
Recently released U.S. labor data has added more pressure to the market. Thursday’s report showed stronger hiring than expected after the US government shutdown-related data gap. With the job market still firm, analysts believe the Federal Reserve may keep rates unchanged at its next meeting.
Source: CME FedWatch
Rate-cut expectations have weakened sharply, with many arguing that interest rates may remain unchanged at the next Fed meeting. CME FedWatch shows traders now see only a 56.6% chance of a 25 bps cut in December, down sharply from 63.8% just a week earlier.
Demand from institutions also signals a bearish momentum. Spot Bitcoin ETFs have seen nearly $3 billion in outflows in November. BlackRock’s IBIT and Fidelity’s FBTC posted their highest redemptions yet, signaling large investors are reducing their crypto exposure for now.
$1.7 Billion Crypto Liquidations Hit the Market
With major cryptos, including Bitcoin and Ethereum, dropping by more than 30% over the past few weeks, over $1 billion in liquidations in 24 hours has become the new normal. In the past 24 hours, over $1.7 billion in leveraged positions were wiped out as Bitcoin approached $80,000.
Source: Coinglass
Long traders took the biggest hit as selling pressure surged across major derivatives platforms. Bitcoin’s drop pulled Ethereum and top altcoins down with it, triggering rapid liquidations on Hyperliquid, Binance, and Bybit. The entire shakeout unfolded quickly, adding even more stress to an already tense market.
Bitcoin Hyper Crosses $28.2 Million Milestone Amid Market Turmoil
While broader experiences intense selling pressure, the emerging layer-2 project Bitcoin Hyper (HYPER) is acting entirely differently. With strong investor support and ecosystem developments, the project has raised $28.2 million in its ongoing presale, with the token priced at $0.013305 at this stage.
Bitcoin Hyper brings Solana-style speed to Bitcoin by running the Solana Virtual Machine (SVM) as a Layer 2 while still relying on Bitcoin for final settlement. This lets BTC users tap into fast, low-cost smart contracts without handing control to any middleman.
The idea has caught on quickly with investors believing it is its mission to transform Bitcoin’s utility. HYPER presale has already sold more than 620 million tokens in its presale, and its 41% APY staking option lets holders steady their returns and earn passive income while they wait for the token to hit exchanges.
