The global cryptocurrency market is experiencing a notable downturn, with total capitalization plummeting to around $3.39 trillion. This decline comes after a week-long 7.65% drop, attributed to macroeconomic uncertainty and institutional investors pulling back their exposure. The delay of the U.S. October CPI report until November 13th has left markets in limbo without a key economic cue, while risk aversion prevails across global assets as investors wait for crucial data points. This period of market hesitation is impacting both cryptocurrencies and traditional equities. The correlation between crypto and the Nasdaq sits at 0.69, highlighting the direct impact of tech stocks on digital asset prices.