Old coins are faced with a crucial test after the wider crypto market has experienced a sharp sale that was triggered by Leveraged Liquidation. Ethereum, the second largest cryptocurrency, slipped among the $ 4,200 and signaled the sector’s weakness. In the meantime, Solana and several other large old coins will lose more than 10% of their value within hours and underline the speed and intensity of the correction.
This fluid wave has fueled debates among investors and analysts whether the market is entering a deeper correction phase or simply reset in front of another leg. With billions of dollars that were wiped out in a single session from Altcoin reviews, the event increased uncertainty and brought the dealers on the side.
The top analyst Maartunn emphasized that the Altcoin flush acceleratedIndicate the extent of the liquidations as evidence that over -sports positions are forced from the market. Although it is painful at short notice, such reserves are often considered healthy for long -term price stability and rinsed excess speculation.
Altcoin Open Interest Wipeout
According to data that was shared by TOP Analyst Maartunn, old coins have been in one of their heaviest flushes for months, since open interest rates of $ 8.0 billion were wiped out in a few hours. In comparison, Bitcoin recorded a much lower reduction of around 1.5 billion US dollars, which highlighted the disproportionate effects of selling out on old coins. This means that retailers, many of whom were used strongly, have the main load of the liquidation event.
The scale of the Wipeout is meaningful. The losses for open interest rates from Altcoin were more than five times higher than that of Bitcoin, which indicates that speculative positions in the sector were far more risky and more susceptible to sharp down movements. While Bitcoin remains the anchor of the market, the gap between Bitcoin and the wider Altcoin market begins to close, which reflects a shift in positioning and risk control.
This raises important questions for investors. On the one hand, such a dramatic flush often deletes excessive leverage from the system and paves the way for healthier price action in the medium term. On the other hand, the sheer scale of Altcoin losses could signal a persistent fragility and the potential for further volatility if trust does not return quickly.
The coming days will be decisive. Analysts observe exactly whether old coins stabilize the most important support levels or whether a bear’s pressure becomes another leg deeper. Since Bitcoin shows relative resistance, old coins must now prove that they can withstand the shock and to rebuild the dynamics in a market that still corresponds to billions in liquidations.
Overall market capitalization without a top 10 analysis
The diagram of the entire crypto market capitalization with the exception of the top 10 coins shows that the Altcoin sector is in a crucial moment. However, the currently worth around 305 billion US dollars worth around 305 billion US dollars has recovered significantly from the depths of 2022 and 2023, but remains far from its historical highlight of over 600 billion US dollars.
The price campaign shows that after a long consolidation, old coins have set a steady upward trend, which is supported by the 50-day and 100-day moving average values that are now falling up. The sliding 200-day average has flattened and began to become positive and to further improve the structure in the wider market. However, the recent rejection near the resistance of 320 billion US dollars shows that sellers are active at higher levels.
The ability of the market to maintain over 280 billion US dollars will be of crucial importance to maintain bullish dynamics. An interruption below could trigger deeper retracements, but holding above this zone indicates strength and extent potential.
With the exception of top assets such as Bitcoin and Ethereum, this index reflects an increasing investor appetite for projects with a smaller cap. Despite the recent volatility, the resistance of this sector signals that the risk appetite returns. If the broader conditions improve, old coins could lead to the next phase of market growth outside the top 10.
Selected picture of Dall-E, Diagram from Tradingview
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