Crypto Market Bleeds Again, Why Market Crash Today (10/17/25)?

Jakarta, Pintu News – The crypto market is showing another bearish trend after losing around $60 billion in the last 24 hours. The market conditions have not yet improved, making many investors choose to hold back, waiting for the next direction.

Bitcoin (BTC) is currently still holding above important support levels, while Pump.fun (PUMP) is the asset with the largest daily decline. On the other hand, positive news came from the United States, where Florida proposed a new policy to include Bitcoin in the state’s investment portfolio.

Crypto Market Capitalization Plunges $60 Billion

The total market capitalization of cryptocurrencies has now dropped to around $3.65 trillion (IDR 60,612 quadrillion), nearing the crucial support level of $3.58 trillion. Mounting selling pressure caused most digital assets to correct, signaling increased investor caution amid global economic uncertainty.

If the selling pressure continues, the crypto market capitalization could drop further to the range of $3.49 trillion (IDR 57,884 quadrillion). This drop would extend the correction phase that has been ongoing for the past few weeks and weaken overall market confidence.

However, if sentiment improves, the market could potentially recover and break back into the $3.73 trillion (IDR 61,890 quadrillion) area. This recovery would be a positive signal that could drive the rebound phase towards the final quarter of the year, especially if trading volumes start to pick up again.

Read also: Why isn’t Pi Network (PI) listed on Binance yet? CZ Opens Up!

Bitcoin (BTC) Held at Critical Level of $108,000

Bitcoin (BTC) price is currently hovering around $109,075 ($1.81 billion) and still holding above the strong support level of $108,000 ($1.79 billion). This level has served as a major “wall of defense” for the past three months and managed to stop several major selling pressures.

Whenever BTC approaches that area, the price tends to bounce back, signaling strong buying interest in that zone. However, if this support level is broken, the market could experience additional pressure and potentially drop all the way to $105,000 (Rp1.74 billion).

Conversely, if BTC rebounds from $108,000, it could potentially test the resistance level at $110,000 ($1.82 billion) and even target $112,500 ($1.86 billion). Such a rebound would be a sign that the whales are back in, opening up short-term recovery opportunities for the crypto market.

Also read: Will ETFs Take Ripple (XRP) to New Heights?

Pump.fun (PUMP) Is the Most Distressed Token

Pump.fun token (PUMP) has been one of the worst performing assets today after dropping over 10.8% in the last 24 hours. PUMP is now trading at around $0.0034 (€56.3) and is just above an important support level. This drop has seen PUMP record six-week lows.

If the selling pressure continues, the price of PUMP could drop to $0.0028 (IDR46.4), signaling a potential further decline amid weak market conditions. However, there is a technical opportunity for a rebound if buyers are able to hold the support area.

If PUMP manages to recover, the price could break $0.0038 (IDR63.0) to $0.0047 (IDR78.0) again. Such a rise could signal the beginning of a trend reversal for this token, especially if general cryptocurrency market conditions start to improve.

Conclusion

The current crypto market downturn is showing a natural correction phase after the long rally that took place throughout the previous quarter. Although many major assets are weakening, several factors such as regulatory support and institutional interest still provide hope for a recovery. As long as Bitcoin (BTC) is able to stay above $108,000, the opportunity for a rebound remains wide open for the cryptocurrency market.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*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.

Reference:

• BeInCrypto. Why Is The Crypto Market Down Today? Accessed October 17, 2025
• Featured Image: Generated by AI