Bitcoin slips beneath Tesla, exiting the world’s top 10 assets by market value

Ether has also come under heavy pressure, sliding to 56th place among global assets by market capitalization after falling 14.5% over the past week. Its market value now sits just above $300 billion, pushing the second-largest cryptocurrency out of the top 50 rankings.

Bitcoin’s market capitalization has fallen to roughly $1.57 trillion, making it the 13th-largest asset globally, behind names such as Saudi Aramco and Tesla. The shift follows a sharp drop in bitcoin’s price, which declined from around $90,000 to approximately $78,500 — a weekly loss of more than 11%.

The decline has unfolded amid a challenging macro backdrop, including heightened geopolitical tensions, a sudden reversal in the precious metals rally, the nomination of a more hawkish Federal Reserve chair, and a partial U.S. government shutdown. These factors have combined to strengthen the U.S. dollar and weigh on risk-sensitive assets.

Bitcoin’s fall out of the global top 10 by market capitalization is a notable development. In recent years, elevated prices had kept BTC firmly within the top ranks. As recently as Oct. 7, when bitcoin reached a fresh all-time high, it ranked seventh by market value. Earlier last year, it briefly climbed into the top five, surpassing technology giants such as Google and Amazon.

At its October peak, bitcoin traded above $126,000 and approached a valuation of $2.5 trillion, highlighting the scale of the recent pullback.

A major driver of the selloff has been renewed strength in the U.S. dollar. President Donald Trump’s nomination of Kevin Warsh — a former Federal Reserve governor known for favoring higher real interest rates and a smaller Fed balance sheet — triggered the dollar’s strongest rally since May.

That dollar surge prompted a broad retreat across alternative assets. Gold fell 9% in a single trading session to just under $4,900, while silver dropped 26.3% to $85.30. Despite the sharp correction, gold remains the world’s largest asset by market capitalization at $34.1 trillion, followed by silver at nearly $4.8 trillion.

Among equities, NVIDIA continues to lead global market capitalization rankings at $4.6 trillion, followed by Alphabet at $4.08 trillion.

Ether’s drop has also reshaped its relative standing. The cryptocurrency is now valued below companies such as Caterpillar, Inditex, Coca-Cola, and Cisco. Just weeks earlier, ether ranked comfortably within the top 50 assets, and prior to the Oct. 10 market selloff, it sat closer to the top 25 — underscoring the severity of the recent decline.

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