by Coinstrooper Crypto Articles
Quick Take
  • The crypto market is down today, with the cryptocurrency market capitalisation falling by 1.6% to $3.24 trillion.
  • Currently, 65 of the top 100 coins have dropped over the past 24 hours.
  • At the same time, the total crypto trading volume stands at $150 billion.
  • At the time of writing on Wednesday morning, 9 of the top 10 coins per market capitalisation have seen their prices go down over the past 24 hours.

What Happened

Moreover, recent regulatory developments “are reinforcing structurally higher participation from institutional allocators rather than tactical inflows.” These include lower barriers to launching crypto ETFs.

Market Context

The crypto market is down today, with the cryptocurrency market capitalisation falling by 1.6% to $3.24 trillion. Currently, 65 of the top 100 coins have dropped over the past 24 hours. At the same time, the total crypto trading volume stands at $150 billion.

At the time of writing on Wednesday morning, 9 of the top 10 coins per market capitalisation have seen their prices go down over the past 24 hours.

Bitcoin (BTC) is down by 1.9% since this time yesterday, currently trading at $91,799.

It’s followed by BTC’s 1.9%, and then Dogecoin (DOGE)’s 1.6% to the price of $0.1483.

Tron (TRX) often goes against the flow, and it does so today as well. It is the only green coin, having appreciated 1.1% and trading at $0.2944.

“The issue at hand is not a single official’s remarks, but the convergence of policy divergence with pivotal data releases. The direction of employment data will determine whether markets move toward a ‘rate pause’ narrative or begin to front-run deeper and earlier easing. For the crypto market, the core focus remains whether liquidity expectations undergo a substantive turning point.”

Meanwhile, Fabian Dori, CIO at Sygnum, commented on the recent renewed ETF demand, arguing that it is “increasingly relevant for market structure.”

Why It Matters

According to Bitunix analysts, “the remarks are distinctly dovish and stand in sharp contrast to views held by some officials who believe policy is already near neutral, underscoring widening internal divergence within the Federal Reserve over the economic outlook and the appropriate policy stance.”

ETF demand is steadily absorbing circulating supply, Dori says. This suggests a potential long-term demand shock, rather than short-term speculative flows.

Details

Crypto Winners & Losers

Ethereum (ETH) fell by 0.5%, now changing hands at $3,211.

The category’s biggest drop at the time of writing is 4.7% by XRP, currently standing at $2.25.

Among the top 100 coins, 65 recorded drops. Provenance Blockchain (HASH) is the only one with a double-digit red percentage. It’s down by 10.3% to $0.02686.

Mantle (MNT) is next, with a drop of 5.9%, changing hands at $1.05.

As for the green coins, Hyperliquid (HYPE) and MemeCore (M) are up 3.4% and 3.2% to $27.42 and $1.68, respectively.

The rest on this short list appreciated 1.1% and less per coin.

Meanwhile, the U.S. Department of Justice (DOJ) has liquidated 57 BTC forfeited by Samourai Wallet developers through Coinbase Prime on 3 November 2025.

Senator Cynthia Lummis has criticised this move, saying the United States “can’t afford to squander these strategic assets while other nations are accumulating bitcoin. I’m deeply concerned about this report,” she added.

‘Dovish US Fed Remarks’

On Tuesday, the US Federal Reserve Governor Stephen Miran said that the current interest rate policy is “clearly restrictive.” There is justification for rate cuts “well in excess of 100 basis points” in 2026, he added.

They argue that,

Per Dori, this shift is part of the broader “debasement trade,” with institutions increasingly reallocating into scarce, non-dilutive assets like Bitcoin. Additionally, major US banks, including Bank of America and Morgan Stanley, expand access to spot Bitcoin ETFs amid rising sovereign debt and persistent inflation uncertainty, an email says.

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