Crypto Markets Slip as Fed Jitters Weigh; Bitcoin at $108K, Iran Rises as Global Mining Power

Crypto Markets Dip Amid Fed Jitters — Bitcoin Tests $108K as Risk Sentiment Fades

November 3, 2025 | Global Finance Desk —
The global crypto market began the week on a cautious note as Bitcoin (BTC) slipped 1% to $108,919, pressured by renewed uncertainty over U.S. Federal Reserve policy and a retreat in global risk appetite. The broader market saw a mild correction, with Ethereum and Solana each falling around 1.5%, while XRP held steady near $0.64.

According to CoinMarketCap data, the total cryptocurrency market capitalization stood near $4.2 trillion, marking a 0.9% intraday drop. The Crypto Fear & Greed Index fell to 36, signaling growing investor caution as traders await fresh macroeconomic cues from the U.S.

“Markets are reacting to shifting expectations around the Fed’s next move,” said Lydia Zhang, Senior Analyst at MatrixPort. “The probability of rate cuts this quarter has fallen, triggering short-term profit booking in both crypto and equity markets.”

🏦 Federal Reserve Uncertainty Keeps Traders on Edge

Recent comments from Fed officials hint at a longer wait for rate cuts, which has pushed Treasury yields higher and strengthened the U.S. dollar. This environment typically pressures risk assets, including digital currencies.
Analysts note that Bitcoin’s recent consolidation between $106K–$111K reflects investor hesitation amid macro crosswinds.

“We’re witnessing a macro-driven pause,” explained Ritesh Jain, founder of PnL Capital. “The market has already priced in optimism; now it’s waiting for confirmation from inflation and jobs data.”

🪙 Iran Emerges as a Global Mining Hotspot

In a surprising development, Iran has quietly climbed to become the 4th-largest Bitcoin mining hub globally, according to a Cambridge Centre for Alternative Finance report. Despite frequent energy crackdowns and regional blackouts, underground mining operations have flourished, driven by cheap subsidized power and increased state tolerance toward crypto-backed revenues.

However, Tehran’s growing role has sparked concerns about sanctions evasion and environmental costs.

“Crypto mining has turned into a geopolitical tool,” said Ali Reza, a blockchain researcher based in Dubai. “Iran’s contribution to global hash rate shows how digital assets are reshaping the power map.”

💰 Gold Outshines Crypto in Risk-Averse Trade

While Bitcoin dipped, gold surged past $2,450 per ounce, hitting another record high as investors flocked to safe-haven assets. This divergence underlines the fragile sentiment across global markets, with traders rotating away from volatile assets toward tangible stores of value.

🌐 Web3 Growth: Deloitte Bets $500M on Fintech Future

Amid the market volatility, Deloitte Hong Kong announced a HK$500 million ($64 million) investment into Web3 and blockchain startups, signaling continued institutional interest in the sector.
The firm’s regional head, Samuel Lau, emphasized that “Web3 infrastructure is key to Asia’s next fintech revolution”, highlighting a contrast between short-term price fluctuations and long-term innovation trends.

📊 Market Snapshot (as of 09:00 IST)