The cryptocurrency market crashed for a second consecutive day today (Wednesday), 5 November 2025, losing over $1 trillion in market capitalization since early October as Bitcoin, Ethereum, XRP and Dogecoin prices led a broad-based selloff. The entire crypto ecosystem is experiencing dynamic declines with Ethereum at $3,303 (after -16% two-day crash), Bitcoin testing $100,000 psychological support, and major altcoins extending losses as institutional investors rotate out of digital assets.
Federal Reserve Chairman Jerome Powell’s hawkish remarks downplaying December rate cuts created the initial catalyst for crypto’s collapse. The probability of a December cut collapsed from 96% before Powell’s press conference to just 69.3% afterward, dampening expectations for looser financial conditions that typically support cryptocurrency prices. Institutional investors pulled $1.15 billion from Bitcoin ETFs last week, led by BlackRock, ARK Invest, and Fidelity.
This exodus signals a significant shift in sentiment as traditional financial institutions that drove Bitcoin’s rally to $126,000 in early October are now reducing exposure amid Federal Reserve uncertainty and AI bubble concerns.
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