The global cryptocurrency market cap declined by 3.8% to $3.97 trillion on September 22, 2025, as political and macroeconomic risks weighed heavily on investor sentiment. Bitcoin (BTC) fell 2.7% to $112,508, while Ethereum (ETH) saw a sharper decline of 6.7% to $4,166.40. Dogecoin (DOGE) experienced a significant drop of 10.7%, trading at $0.238. The market downturn is attributed to U.S. President Donald Trump's proposal of a $100,000 H-1B visa fee, which has heightened concerns over potential trade tensions. Additionally, reports indicate that China's securities regulator is advising domestic brokerages to cease real-world asset tokenization activities in Hong Kong, adding to the market's uncertainty.