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Altcoins Crash as Market Loses $600 Billion – But Is the Worst Over?
The crypto market has been in a downward spiral for quite some time now. The recent decline has seen an astonishing loss of $600 billion, with altcoins bearing the brunt of this downturn. However, experts are divided on whether this is the worst we’ve seen or if there’s still more pain to come.
It appears that the current trend is reflective of risk-off sentiment and Bitcoin dominance, which has led to a sharp decline in altcoin market capitalization. This, combined with the BlockchainCenter index dropping to its lowest level since October 2024, would suggest that we’re far from seeing an end to this downturn anytime soon.
Despite these ominous signs, some experts are hinting at contrarian signals building. This could potentially signal a strong rotation in the altcoin market. While this may seem like a glimmer of hope for those holding onto their altcoins, others believe that the traditional altseason model is outdated due to regulations and institutional adoption, which would result in new capital entering through stablecoins or widely adopted altcoins rather than a traditional altseason.
It seems as though there are two camps here: those who think we’re at the bottom of this downturn and others who believe it’s far from over. The data does not lie, though – just one out of 57 tracked altcoins has managed to outperform Bitcoin over the past 72 hours, indicating a severe downturn in the market.
While there are some glimmers of hope here, most investors would be wise to exercise extreme caution as the tide appears far from turning.
Source: https://ambcrypto.com/altcoins-crash-as-market-loses-600-billion-but-is-the-worst-over/
