Why Is Crypto Down Today? – December 11, 2025

What Happened

Moreover, Nic Puckrin, investment analyst and co-founder of The Coin Bureau, said that FOMC decision wasn’t as hawkish as many market participants were expecting, so markets are breathing a sigh of relief.

However, the Fed is now expected to cut rates only once in 2026, fewer than investors hoped for. This could still change with the change of Chair next year. The attention will now turn to liquidity and the Fed’s balance sheet policy in early 2026.

“And as any investor knows, markets are allergic to uncertainty. This puts a lid on the rally for risk assets heading into the end of the year.”

That said, the Fed’s announcement is not enough to spark a Santa rally for BTC, and there are no other obvious catalysts from here on, Puckrin argued, barring any unexpected announcements from the US President.

Market Context

The crypto market is down today, with the cryptocurrency market capitalisation decreasing by 2.8% and pulling back to $3.16 trillion. 97 of the top 100 coins have gone down over the past 24 hours. At the same time, the total crypto trading volume is at $154 billion.

At the time of writing, all top 10 coins per market capitalization have seen their prices decrease over the past 24 hours.

Bitcoin (BTC) is down by 2.8% since this time yesterday, currently trading at $90,051.

The highest drop is Dogecoin (DOGE)’s 6.3% to the price of $0.1468.

It’s followed by Solana (SOL)’s 6%, trading at $130.

At the same time, the smallest decrease in the category is 0.4% by Tron (TRX), currently trading at $0.2789.

Ethena (ENA) follows with an 8.8% fall to the price of $0.2487.

As expected, the US Federal Reserve approved a 25 basis point rate cut at Wednesday’s FOMC meeting. However, many argued that the cut had already been priced in.

Ruslan Lienkha, chief of markets at YouHodler, commented that “my base-case scenario for the week is continued consolidation around current levels, accompanied by moderate downward pressure.”

It could see Bitcoin “rally back toward levels we lost over the past few weeks, provided there’s actual liquidity ready to be deployed.”

Additionally, Alexis Sirkia, Chairman of Yellow Network, saying that “the market is mulling over the Fed’s decision of a third quarter-point rate cut to ease the affordability crunch.”

Why It Matters

‘A Lid On The Rally For Risk Assets’

Nic Roberts-Huntley, co-founder and CEO of Blueprint Finance, commented on the US Federal Reserve’s move, saying that the 25-basis-point rate cut “will likely soften borrowing costs further and generally boost risk-asset sentiment, which tends to work in favor of crypto.”

The fewer expected cuts and the diverging opinions within the committee “inject a fresh dose of uncertainty into the macro outlook.”

Details

Crypto Winners & Losers

Ethereum (ETH) is down by 4.3%, now changing hands at $3,182. This is the category’s third-highest decrease today.

As for the top 100 coins, only three have appreciated over the past day. These are Provenance Blockchain (HASH), MemeCore (M), and Rain (RAIN), which are up 8.5%, 1.1%, and 1.1% to $0.03038, $1.47, and $0.007672, respectively.

On the red side, Pump.fun (PUMP) decreased the most in this category: 9.3% to $0.002763.

That said, he noted, “we’re heading into a complex macro season” and that it will be “hard to isolate the effect of the rate cut in the near term.”

And yet, “the irony here is that the Fed itself is operating with limited visibility due to the government shutdown, themselves looking to make a critical decision on incomplete data.”