Altcoin market sees sharp drawdown as selling pressure accelerates
The altcoin market experienced significant losses, with a decline of approximately $50 billion in market capitalization, now around $1.2 trillion. Major tokens like Ethereum and Solana fell over 7% and 11%, respectively, while XRP and Dogecoin also saw steep weekly losses. The market structure weakened, indicating a risk-off rotation as capital exits altcoins faster than Bitcoin. Bitcoin's drop below $90,000 exacerbated the situation, leading to further vulnerability for altcoins in the short term. Overall, the altcoin market remains under pressure until confidence returns.
Amb Crypto·