Altcoin market gives back a large share of gains
The cryptocurrency market is going through a pronounced correction. According to the report, the Total3 index, which excludes Bitcoin and Ethereum, has fallen from its October 2025 peak of about $1.19 trillion to roughly $713 billion, marking a decline of around 40%. The move highlights how pressure has intensified across the broader altcoin market after a strong earlier rally.
This downturn follows a volatile stretch after the 2024 U.S. presidential election. The market had previously surged by more than 91% in the post-election period, but that momentum has since faded. After such a sharp advance, sentiment and positioning appear to have reversed, pushing the market into a deeper corrective phase.
Bitcoin and Ethereum also face heavy losses
Large-cap cryptocurrencies have also been hit. Bitcoin dropped more than 50% from its peak, briefly touching $60,000 before recovering to around $68,000. Ethereum has fallen about 60% from its August 2025 high near $5,000, showing that weakness is not limited to smaller tokens.
The breadth of the decline suggests a broader risk-off environment rather than isolated underperformance. From altcoins to the two biggest crypto assets, the market has seen widespread retracement as traders reassess risk following an extended rally.
Sentiment stays weak amid extreme fear
Investor sentiment remains depressed. The CMC Fear & Greed Index stands at 14, which signals Extreme Fear. Earlier this month, the index reportedly fell to a record low of 5, underscoring just how fragile confidence has become.
Overall, the latest data points to a market still struggling to stabilize after a major run-up and subsequent sell-off. With Total3 sharply lower, Bitcoin and Ethereum under pressure, and sentiment gauges near historic lows, the crypto sector appears to remain in a cautious and highly volatile phase.