Bitcoin's market capitalization has dropped to around $1.57 trillion, positioning it as the 13th-largest asset globally. This shift follows a steep decline in price from approximately $90,000 to $78,500, marking an over 11% loss in just seven days. According to CoinDesk, Bitcoin's fall from the top 10 assets by market cap is a significant change, especially considering its recent history of maintaining a high ranking. Just on October 7, Bitcoin reached a new all-time high and was ranked 7th. In fact, it had even cracked the top five last year, overtaking tech giants like Google and Amazon. The current market turmoil is attributed to several factors, including geopolitical tensions, a breakdown in the precious metals rally, the nomination of a hawkish Federal Reserve chair, and a partial government shutdown. Bitcoin's decline is compounded by the strength of the U.S. dollar, which rallied significantly following the nomination of a financial veteran known for advocating higher interest rates. This strong dollar has not only impacted Bitcoin but also caused precious metals like gold and silver to plunge. Gold saw a remarkable drop of 9% in a single session, while silver fell by an astounding 26.3%. Despite these declines, gold remains the largest asset by market cap, valued at $34.1 trillion, followed by silver at nearly $4.8 trillion. Ether also experienced a notable decline, falling to 56th place with a market cap just above $300 billion, losing 14.5% of its value. Previously, it was among the top 50 assets by market cap. The second-largest cryptocurrency now trails behind major companies such as Caterpillar and Coca-Cola. Bitcoin's recent selloff is a stark reminder of its volatility and the impact of external economic forces. With its position slipping, the future will determine if it can reclaim its status among the top 10 assets or if this is a sign of a more prolonged downturn.