Crypto Bloodbath: Altcoins Annihilated as $100B Evaporates From Markets

Crypto markets got steamrolled today—altcoins took the brunt of the hit as over $100B vanished into thin air. Traders scrambling, portfolios bleeding, and the usual 'HODL' crowd suspiciously quiet.

### The Great Altcoin Purge

Smaller coins got crushed like beer cans at a frat party. No mercy, no rallies—just a straight-line nosedive while Bitcoin flexed its relative stability (for once).

### Where'd the Money Go?

Poof. Gone. Like hedge fund promises of 'risk-adjusted returns.' Liquidity evaporated faster than a meme coin's utility. Even stablecoins caught side-eye as red candles swallowed charts whole.

### Silver Lining Playbook

For degenerates with dry powder? Fire sale prices. For everyone else? Another reminder that crypto winters come early—and often.

Alts Crash

The alternative coins were flying high for a few weeks, which sparked speculation whether the much-anticipated altseason had finally started. After registering massive gains for a while, though, it felt inevitable that there WOULD be a more violent correction, which materialized in the past 12 hours or so.

Ripple’s native token is among the leaders in this adverse trend, losing over 11% of value and dropping below $3.1. Some of the blame can be attributed to Upbit.

DOGE, XLM, HBAR, and Pepe are the other double-digit losers from the larger-cap alts, while APT has plunged by 16% daily. SOL, ADA, SUI, LINK, and AVAX are also deep in the red.

ETH has managed to remain relatively still at around $3,600, while BNB has lost more than $40 since yesterday’s peak above $800.

The cumulative market cap of all crypto assets has shed over $100 billion since yesterday’s top and is down to $3.9 trillion now.

BTC Dominance Recovers

As many of the altcoins were marking gains, bitcoin’s price consolidated after the recent ATH at over $123,000. The asset lost some traction and dipped below $120,000, where it has been for most of the past week.

Its dominance over the alts was violently reduced, going from over 63% to 59% within a week or so. Now, though, the metric has increased by more than 1% in just a day as BTC has remained at essentially the same level as yesterday while the alts were getting obliterated.

With Bitcoin currently trading close to $119,000, its market cap has remained at almost $2.370 trillion on CG.