Bitcoin Falls Below $108K as Fed Hawkish Stance Shakes Crypto Markets

A senior Federal Reserve official’s rate warning triggered sharp declines across cryptocurrencies, extending October’s steep losses and intensifying investor risk-off sentiment.

BTC

ETH

SOL

183d ago

Summary

On November 3, Bitcoin plunged to $106,000 amid persistent risk-off sentiment and fresh caution from a senior U.S. Federal Reserve official over interest rates. This marked a further drop from its previous close below $108,000, putting October on track as one of the weakest months since 2014. Ethereum, XRP, SOL, DOGE, and ADA all recorded significant losses, while crypto-linked equities like Coinbase and mining firms remained under selling pressure. Market volatility has persisted following the Fed’s hawkish monetary policy stance, with digital asset treasuries and sector equities facing continued declines.

Terms & Concepts

Digital Asset Treasury (DAT): A strategy where public companies hold significant amounts of cryptocurrencies like Bitcoin on their balance sheets, often financed by issuing shares or debt.
mNAV (Market Premium to Net Asset Value): A metric that compares a company’s market price to the value of its underlying assets, used to assess whether it is trading at a premium or discount.
On-chain Yield: Returns generated directly through blockchain-based activities, such as staking or lending, without involving traditional financial intermediaries.