Why is Crypto Down Today (7/16/25)?

Updated

July 16, 2025

Gambar Why is Crypto Down Today (7/16/25)?

Jakarta, Pintu News – The cryptocurrency market is under pressure again after the total global crypto market capitalization dropped dramatically in the last 24 hours. This drop came after a group of Republican members of the US House of Representatives blocked a number of important bills during “crypto week.”

On the other hand, altcoins such as Ethereum and Ethereum Name Service have actually recorded price increases, making investors question the direction of the next market movement.

This article reviews the main causes of the market crash as well as the hidden opportunities behind this turmoil!

US House of Representatives fails to regulate crypto, market reacts negatively

The big drop in the crypto market was triggered by the failure of the US House of Representatives to pass several important bills related to the regulation of digital assets.

Proposals such as the GENIUS Act, Clarity Act, and defense budget bill all failed to advance after procedural votes were rejected by the House Freedom Caucus. These rejections raised concerns among investors about the slow development of crypto regulation in the United States.

The situation was exacerbated by the fact that this decision came during the so-called “crypto week,” where market participants expected positive progress from the policy side.

But the opposite was true-the global crypto market immediately shrank by $38 billion and the total market capitalization dropped to $3.66 trillion. This decline signals a decline in market enthusiasm for the progress of the crypto industry in the US.

Also read: 3 Crypto that Moves Up You Should Watch Tomorrow Thursday July 17, 2025

Bitcoin (BTC) price plummets, watch out for $115,000 level

Bitcoin , as the largest cryptocurrency, is also directly affected by this situation. The current price of BTC dropped to around $117,394 (roughly Rp1.906 billion), failing to break the psychological level of $120,000 (Rp1.948 billion). This drop signals market uncertainty and increases the potential for volatility in the near future.

Analysts warn that if Bitcoin fails to hold above the important support level of $115,000, there could be a massive sell-off.

This level has been the stability zone in several previous corrections, making it a crucial point for investors. Conversely, if the price bounces off the level, BTC could potentially climb back to $120,000 and restore market confidence.

Ethereum and ENS are exceptions, altcoins are gaining interest

Despite the general weakness in the crypto market, Ethereum (ETH) has shown resilience. ETH managed to maintain its upward momentum and attract the attention of investors looking for alternatives to Bitcoin. This opens the door for the start of the “altcoin season,” where altcoins outperform BTC.

One of the altcoins that stole the show was Ethereum Name Service (ENS), which surged 14% in the last 24 hours and is trading at around $25.96.

ENS is even approaching the strong resistance level of $26.06 (IDR423,325), the highest level in the last four months. If this level is successfully passed and confirmed as the new support, ENS has the potential to surge to the target price of $28 (IDR454,720) to $30 (IDR487,200).

Correction Risk Remains, but Altcoins Show Positive Signals

Although ENS is showing strength, the risk of a correction remains looming. If it fails to break and hold above $26.06, then the price could correct to $23.15 (IDR375,556), which would erase the short-term bullish outlook. Therefore, the price movement of this altcoin should be monitored closely in the next few days.

The performance of ENS could be an early indicator that investors are starting to rotate assets from Bitcoin to altcoins. This trend could be an early trigger for the altcoin season, especially if it is supported by market sentiment that is starting to shift towards utility-based projects like ENS. However, market volatility remains high, and investors are advised to exercise caution in making decisions.

Conclusion

The crypto market turmoil triggered by regulatory uncertainty in the US has depressed Bitcoin’s (BTC) price and total market capitalization. However, opportunities remain open for altcoins such as Ethereum Name Service (ENS) that are showing impressive performance. Amidst this pressure, observant investors can find the right momentum to enter, as long as they are able to read price movements and manage risks well.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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