Bitcoin and Ethereum saw sharp weekly losses, dropping out of previous top global asset rankings amid a strong U.S. dollar rally and related market selloffs.
Ethereum's market capitalization declined to just above $300 billion, placing it 56th globally after losing 14.5% in a week. Bitcoin fell even more sharply, dropping over 11% in seven days to $78,500, with its market cap sliding to $1.57 trillion and ranking 13th, down from 7th place in October when it reached a $2.5 trillion valuation. The downturn follows geopolitical tensions, a breakdown in precious metals rallies, a partial U.S. government shutdown, and the U.S. dollar's biggest rally since May after President Trump nominated Kevin Warsh, a policy hawk, as the next Federal Reserve chair. Gold and silver also saw steep declines, with gold down 9% to just under $4,900 and silver down 26.3% to $85.3.