WASHINGTON (dpa-AFX) - Cryptocurrencies bore the brunt of toned-down rate cut expectations as the Fed confronts the dilemma of combatting stubborn inflation and addressing a softening labor market. Uncertainty also mounted as the Fed's oft-stated data-dependent decision making suffered in the data-vacuum created by the ongoing shutdown of the U.S. government.
Overall crypto market capitalization declined 4 percent overnight to $3.45 trillion. 83 of the top 100 cryptocurrencies declined more than a percent overnight whereas only 5 added more than 1 percent. Bitcoin touched a 24-hour low of $103,633.
Bitcoin has declined 3.5 percent overnight to $103,761.68, around 18 percent below the all-time high of $126,198.07 recorded on October 7. The original cryptocurrency recorded losses of 9.4 percent over the past week and gains of more than 11 percent till date in 2025. The 24-hour trading range was between $108,286.85 and $103,633.40.
Ethereum also tumbled 6.2 percent overnight to trade at $3,485.44. Gains in 2025 stand at 4.6 percent. Ether's current trading price is 30 percent below its all-time-high. The 24-hour trading ranged between $3,746.15 and $3,461.47.
4th ranked XRP declined 5.6 percent overnight at its current trading price of $2.26.
The price of 6th ranked Solana decreased 8.5 percent overnight to $160.70. With losses of 15 percent, SOL is the highest-ranking cryptocurrency to trade with year-to-date losses.
TRON ranked 8th overall slipped 5 percent overnight and is currently changing hands at $0.2804.
9th ranked Dogecoin lost 4.7 percent overnight and is currently changing hands at $0.1652. DOGE has lost more than 47 percent till date in 2025.
10th ranked Cardano dropped 5.9 percent overnight to trade at $0.5413.
76th ranked Decred (DCR) jumped 136 percent followed by 48th ranked Dash (DASH) that gained more than 70 percent. Both the coins rallied amidst a renewed focus on privacy coins.
85th ranked SPX6900 (SPX) topped overnight losses among the top 100 cryptocurrencies with a decline of 16.6 percent. 88th ranked Morpho (MORPHO) followed with overnight losses of 14.3 percent.
Markets also digested the CoinShares Digital Asset Fund Flows Weekly Report that revealed showed heavy outflows during the week ended November 1. According to the latest edition of the report, digital asset investment products saw outflows totaling $360 million last week, as investors viewed Fed Chair Powell's comments on potential December rate cuts as hawkish, leaving markets in a state of uncertainty.
According to the report, Bitcoin topped flows by asset, iShares ETF topped flows by provider and United States topped flows by country during the past week. Year-to-date inflows stood at $49 billion whereas assets under management aggregated to $227.4 billion.
Bitcoin-based products witnessed massive outflows of $946 million. Solana-based products recorded inflows of $421 million. Ethereum-based products recorded inflows of $58 million followed by XRP-based products that recorded inflows of $43 million. Bitcoin products account for an AUM of $175.7 billion. AUM of Ethereum-based products stood at $34.8 billion.
The provider-wise analysis of flows inter alia shows outflows of $390 million from iShares Fidelity Wise Origin Bitcoin Fund witnessed outflows of $156 million. Bitwise Funds Trust also recorded outflows of $92 million.
iShares ETF tops with a cumulative AUM of $103.3 billion. Though outflows exceed $2.4 billion in 2025, Grayscale Investments still accounts for an AUM of $32.4 billion. Fidelity Wise Origin Bitcoin Fund commands an AUM of $22.5 billion.
In addition to Grayscale Investments, ARK 21Shares has recorded negative flows in the year-to-date period.
United States witnessed outflows of $439 million during the period followed by Germany that recorded inflows of $32 million. Switzerland also saw inflows of $30.8 million. Sweden recorded outflows of $11 million.
Of the cumulative AUM of $227 billion, $158.5 billion is in United States. Switzerland follows with an AUM of $7.7 billion whereas Germany accounts for an AUM of $7.4 billion. Canada accounts for an AUM of $6.8 billion. Sweden and Brazil have recorded net outflows over the year-to-date period.
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