The cryptocurrency market has experienced a significant decline following an extraordinary surge during 2024 and 2025, with the total market capitalization dropping by approximately 40%. After reaching its peak in October 2025, this downturn has created an atmosphere of uncertainty among investors. The Total3 Market Cap, which excludes Bitcoin (BTC) and Ether (ETH) and measures the value of all other cryptocurrencies, had increased by nearly 91% after the U.S. presidential elections in November 2024, rising from $600 billion to $1.16 trillion by December 2024. However, the market capitalization began to fall thereafter, reaching around $900 billion in January 2025. On January 18, it briefly surged to $1.13 trillion, coinciding with heightened political activity at the time. Throughout 2025, the market experienced fluctuations, peaking again at approximately $1.19 trillion in October 2025 before a significant drop halted the rally.
Currently, the total market capitalization stands near $713 billion, comparable to levels seen in November 2024, with no clear signs of recovery. Bitcoin’s price also fell more than 50% from its peak, dropping to around $60,000 before partially rebounding to near $68,000. Ether’s price declined about 60% from its record high of $5,000 in August 2025. The present market conditions are challenging for investors, reflected by the Fear and Greed Index, which is at an extremely fearful level of 14, having dropped as low as 5 in February 2025—the lowest recorded data point. This situation has made investors cautious and contributed to ongoing uncertainty about the future of the cryptocurrency market.
Source: binance
