Cryptocurrency prices have retreated sharply in the past few weeks, bringing the total market capitalization of all coins from almost $4 trillion earlier this month to $3.46 trillion. So, why is crypto going down, and will it bounce back in 2025?

Why is crypto going down?

A closer look at the crypto market shows that most coins and tokens have plunged hard in the past few days. Bitcoin price has dropped by over 13% from its highest level this month, meaning that it is in a technical correction. Ethereum has tumbled by almost 17% from the year-to-date high, while Solana is in a bear market after falling by 26% from its all-time high. 

Meme coins, which were the biggest stories of the year have also…