The cryptocurrency market in mid-2025 opened with declines amid political tensions in the US and the Middle East. The total altcoin market cap dropped below $1.30 trillion.
Fall in Altcoin Capitalization
According to CoinGecko, the total capitalization of altcoins dropped to $1.29 trillion. Over the past 24 hours, the broader market shed 2.51%, lowering the global crypto market cap to $3.41 trillion.
Ethereum and Other Altcoins Losing Ground
According to MN Capital founder and YouTuber Michael Van de Poppe, altcoins are experiencing their weakest period against Bitcoin in over two years. He pointed out that similar low formations occurred in June 2022 and June 2023, signaling ongoing market challenges.
Political Disputes Between Trump and Musk
The crypto market is also under pressure due to political conflicts between President Donald Trump and Tesla CEO Elon Musk. The two have resumed discussions on social topics, with Musk criticizing senators who supported Trump’s tax bill, while Trump retorted that Musk has received more subsidies than anyone else in US government history.
Thus, the cryptocurrency market faces numerous challenges in mid-2025, stemming from both the internal dynamics of altcoins and political disputes affecting investment decisions.
