What Happened in Crypto Today: Will Crypto Market Go on Crashing?

What Happened in Crypto Today & Crypto Crash Details You Need To Know

What Happened in Crypto Today: Market in Freefall – Is the Bull Run Over?

The cryptocurrency market is bleeding, with the global market cap tumbling 1.64% to $3.19 trillion, signaling panic among traders. Despite this, trading volume has surged 8.02% to $127.49 billion in the last 24 hours as whales and retail investors scramble to make sense of the chaos. 

With Bitcoin, Ehtereum, and XRP crashing, massive options expirations shaking the market, Russia’s crackdown on miners, XRP ETF filings, and the Nonfarm Payroll report fueling uncertainty, traders are asking: When will the crypto market go back up?

1. Bitcoin in Freefall: Is This the Dip Before the Moon or a Precursor to Doom?

Bitcoin ($BTC) is on shaky ground, plummeting to $97,369.43—a 1.50% drop in 24 hours. With its market cap at $1.93 trillion, traders are grasping at any sign of reversal. Trading volume has jumped 2.36% to $47.06 billion, suggesting dip buyers are eyeing their next move. 

However, a shocking revelation by analyst Ali reports over 20,000 BTC being dumped by long-term holders in just 96 hours! Is this a sell-off before the storm or the ultimate accumulation opportunity? The next few days will be crucial.

2. Crypto Bloodbath: $3.1 Billion in BTC & ETH Contracts Expire, Market in Chaos

Brace for impact! At 08:00 UTC, 26,000 Bitcoin option contracts worth a staggering $2.57 billion are set to expire today, along with 204,376 Ethereum ($ETH) contracts valued at $560 million. Historically, options expirations trigger extreme volatility, and with BTC already in a nosedive, we could be staring at a weekend wipeout. 

Adding fuel to the fire, U.S. jobs data is expected to add further market turbulence. Will crypto survive the onslaught, or is the worst yet to come?

3. Russian Bitcoin Miners on Edge: Sanctions & Government Surveillance Intensify

Russia’s Bitcoin miners are in full-blown panic mode as the government aggressively tracks wallet addresses through a new registry. Fears are mounting that leaked data could lead to sanctions or worse—a major clampdown on mining operations. The registry, active since November 2024, is supposedly “secure,” but not everyone is buying it. Lawmaker Anton Gorelkin warns that the system could be a “big gift” to geopolitical opponents. 

4. XRP ETF Filings Shake Market: Is XRP on the Verge of a Breakout?

In a historic move, the Cboe BZX Exchange has filed an application for spot XRP ETFs on behalf of asset managers Canary Capital, WisdomTree, 21Shares, and Bitwise. With XRP currently trading at $2.39, down 2.97% today, the ETF news is fueling speculation. Could XRP finally break out of its regulatory limbo and follow in Bitcoin and Ethereum ETF-approved footsteps? With the SEC facing increasing pressure, crypto traders are on edge, awaiting a decision that could send XRP soaring—or crashing further.

5. Nonfarm Payroll Report: Will it Send Shockwaves Through Crypto Market

The U.S. Bureau of Labor Statistics’ Nonfarm Payroll (NFP) report is set to release today, and it’s adding another layer of uncertainty to an already rattled market. Economic strength boosts risk appetite, but a weaker-than-expected report could send investors fleeing from crypto into safer assets like gold and bonds. 

The Burning Question: When Will the Crypto Market Go Back Up?

The relentless market downturn has traders questioning: Is the crypto bull market over? Analysts argue that upcoming macroeconomic events, regulatory approvals, and ETF launches could shift the tides, but the short-term outlook remains grim. With crypto ranked by market cap bleeding red, eyes are on Bitcoin to see if it can reclaim ground or fall further. Buckle up. The next moves in this volatile market will define the future of digital assets.