TL;DR:
- Bitcoin hit $85,100 near $85,000, then traded around $86,300; market cap was about $1.72T with 59.2% dominance after breaking down from $90,000 consolidation.
- Aster (ASTER) fell 12% to around $0.81 as Midnight, Pump.fun, Ondo and Worldcoin dropped by double digits; a few rose 1% to 2%.
- Total crypto market cap fell to about $3.03 trillion, down 4.1% daily; the update cited Fed-chair odds shifting from Kevin Hassett to Kevin Warsh.
The crypto market took a sharp step back over the last 24 hours, with bitcoin sliding to $85,100 and several altcoins posting double digit drawdowns. The combined market value sat just north of $3 trillion, then slipped to about $3.03 trillion, a 4.1% daily decline. Bitcoin broke down from consolidation near $90,000, while Aster (ASTER) sank 12% to around $0.81, setting the tone for a broad risk reset across tokens, leaving the market in sudden decline.
BTC bleeds out as Fed-chair odds shift
Bitcoin’s consolidation around $90,000 did not last long, with the price plunging to a two week low near $85,000 before stabilizing. The move looked triggerless initially, but the update pointed to shifting expectations for the next Federal Reserve chair. Polymarket reduced the odds of Kevin Hassett and leaned toward Kevin Warsh, described as cautious on crypto and supportive of a US CBDC, as one of several potential reasons.
After touching roughly $85,100, bitcoin’s dip appeared to mark a local bottom, with buyers reclaiming ground and lifting BTC to about $86,300 in subsequent trading. Several hours earlier, the price had dropped from the $90,000 area into that two week low. Even with the bounce, the sell-off trimmed the asset’s market capitalization to around $1.72 trillion. Its dominance versus alternative coins was listed at 59.2%, underscoring how quickly market share can shift during sudden fast moves.
Altcoins largely mirrored bitcoin’s slide, and many moved lower by even bigger percentages during a broad sell-off across popular altcoins, with Aster (ASTER) falling 12% in 24 hours to around $0.81 as other names also dropped by double digits. The update listed Midnight (NIGHT), Pump.fun (PUMP), Ondo (ONDO), and Worldcoin (WLD) among the tokens heading south. Only a handful were in the green, including Canton (CC), Provenance Hash (HASH), and Monero (XMR), up 1% to 2%.
Zooming out, the snapshot reinforced how quickly sentiment can turn, with total crypto market capitalization falling to about $3.03 trillion for a 4.1% daily drop. Bitcoin’s breakdown set the direction, and the heavier drawdowns in select altcoins amplified the damage. The report also noted that, on the surface, no single catalyst stood out, even as the Fed-chair narrative offered a plausible angle. For now, the market is digesting losses while watching whether support holds into year-end.
