Ether also suffered a sharp decline, falling to 56th place among global assets by market capitalization after losing 14.5% of its value over the past week. Its market cap now sits just above $300 billion, pushing the second-largest cryptocurrency well outside the top 50 assets.
Bitcoin’s market capitalization has dropped to roughly $1.57 trillion, placing it 13th globally by that measure, behind assets such as Saudi Aramco and Tesla. The shift follows a steep pullback in bitcoin’s price, which slid from around $90,000 to near $78,500 — a decline of more than 11% over the past seven days.
The selloff has unfolded against a challenging macro backdrop, including rising geopolitical tensions, a sharp reversal in the precious metals rally, the nomination of a more hawkish Federal Reserve chair, and a partial U.S. government shutdown. Together, these factors have fueled a stronger U.S. dollar and weighed heavily on risk assets.
Bitcoin’s exit from the top 10 global assets by market capitalization marks a notable change. In recent years, elevated prices had kept BTC firmly within the top ranks. As recently as Oct. 7, when bitcoin reached a new all-time high, it ranked seventh by market value. Earlier last year, it briefly entered the top five, surpassing major technology companies such as Google and Amazon.
At October’s peak, bitcoin traded above $126,000 and approached a market valuation of $2.5 trillion, highlighting the scale of the reversal seen in recent weeks.
A key driver of the downturn has been renewed strength in the U.S. dollar. President Donald Trump’s nomination of Kevin Warsh — a former Federal Reserve governor with deep Wall Street experience and a reputation for favoring higher real interest rates and a smaller Fed balance sheet — sparked the dollar’s strongest rally since May.
That dollar surge triggered a sharp pullback across alternative assets. Gold plunged 9% in a single session to just under $4,900, while silver saw an even steeper decline, tumbling 26.3% to $85.30. Despite the drawdown, gold remains the world’s largest asset by market capitalization at $34.1 trillion, followed by silver at nearly $4.8 trillion.
Among equities, NVIDIA continues to rank as the largest publicly traded company by market value at $4.6 trillion, followed by Alphabet at $4.08 trillion.
Ether’s decline has also reshaped its standing among global assets. The cryptocurrency, now valued below companies such as Caterpillar, Inditex, Coca-Cola, and Cisco, had previously ranked within the top 50 by market capitalization. Before the Oct. 10 market crash, ether was positioned closer to the top 25, underscoring the magnitude of its recent slide.
