Here Are the Real Reasons Why the Crypto Market Is Down Today

The prices of some major cryptos have dropped on the board today. Bitcoin (BTC), Ethereum (ETH), Raydium (RAY), and several other coins are all down.

The prices of some major crypto have dropped on the board today. Bitcoin (BTC), Ethereum (ETH), Raydium (RAY), and several other coins are all down.

The total crypto market has shed over $60 billion and is now sitting around $3.31 trillion. The drop comes as investors react to yesterday’s U.S. CPI data, which showed inflation at 2.4% year-over-year. Although that figure was slightly below the expected 2.5%, it still weighed on sentiment and sparked a broader pullback in risk assets like crypto.

Much of the hesitation in the market is also coming from Bitcoin price rejection near the $110,000 mark. The leading asset dropped over 2% after failing to hold above this level, adding to the selling pressure. Ethereum followed with a similar decline, slipping below key technical support and confirming a bearish pattern.

ETF inflows have also slowed. Spot Bitcoin ETFs saw $165 million in inflows yesterday, down sharply from $435 million the day before. This drop shows waning institutional momentum as traders respond to macro signals and weakening price structure.

The market’s reaction highlights how sensitive crypto remains to inflation and economic updates. While the longer-term trend is still intact, short-term sentiment has clearly shifted.

However, let’s have a look at some technicals and what some traders are saying on X.

Bitcoin Price Pulls Back After Rejection at $108K

Bitcoin (BTC) is facing pressure after losing momentum above the $108,000 zone. The price has dropped to around $106,900, forming a clear bearish pullback on the 4H chart. This short-term trend has flipped as the last several candles have printed lower highs and long red bodies, showing sellers are in control.

Support is found between $106,000 and $106,500. If that fails to hold, the next major zone is between $100,000 and $101,000. This level is considered a key psychological area and previously acted as a demand zone on June 5. On the upside, $110,000 is the resistance bulls need to reclaim for any momentum to return.

Moreover, ETF flows have mirrored this price behavior. As reported by BeInCrypto, yesterday saw daily inflows of $165 million into spot BTC ETFs, decreasing sharply from Thursday’s $435 million. This drop indicates weaker demand from institutions. That loss of steam, alongside macroeconomic tension, is keeping Bitcoin pinned below resistance.

BTC price hovers around $110K. Momentum slows as traders digest macro signals. ETF inflows slow from yesterday's surge. Still, is there a case for more buying? Thoughts? ?

Still prefer to trade in small increments.

Don't like to go YOLO on big moves.

Like to take it slow and steady.

What's your preferred trading style?

Ethereum Price Confirms Bearish Pattern

Ethereum is seeing a deeper pullback today as it broke down from a head and shoulders pattern on the daily chart. The neckline at $3,170 failed to hold, and ETH is now trading below $3,100. This move has confirmed the bearish setup, and price could be seen continuing lower toward the $2,800–$2,600 zone if the sellers remain in command.

Crypto expert Sensei posted a chart earlier on X with a simple warning: “$ETH is about to hard dump.” The pattern structure and price behavior appear to support that view. Lower highs and weaker volume leading into the right shoulder showed fading bullish interest, and the breakdown confirms the shift.

$ETH is about to hard dump

Immediate resistance is now at $3,250. ETH needs to reclaim that level to reverse the current bias. Without a strong bounce, short-term sentiment is likely to remain cautious.

Read Also: How Much Will 13,500 Kaspa (KAS) Tokens Be Worth by 2026?

Total Crypto Market Cap Fails to Hold $3.40 Trillion

The total crypto market cap failed to breakout through the $3.43 trillion resistance area and has now slipped back to $3.31 trillion. This marks the second time the market has failed to hold above $3.40 trillion in June. Price action on the daily chart shows a red candle forming as volume declines, hinting at more sideways action or continued selling.

The key support level to watch is between $3.26 trillion and $3.21 trillion. If that range is lost, the next support sits at $3.12 trillion, which served as a bounce zone earlier in the month. The larger double-