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Crypto market reels as $395 m in liquidations trigger fresh risk-off
Crypto markets fell as nearly US$400m in liquidations hit, driven by Fed hawkishness and a firmer dollar.
On 3 November 2025, the global cryptocurrency market cap slid to about US$3.69 trillion, as over US$395 million in leveraged positions were wiped out within 24 hours. The draw-down came amid hawkish comments from the Federal Reserve and a stronger U.S. dollar, prompting major assets such as Bitcoin and Ethereum to give up recent gains. Traders say the risk-off turn could prolong unless rate-cut expectations are restored and fresh positive catalysts emerge.