Crypto market under pressure: Altcoins are losing massive amounts of value!

Crypto market under pressure: Altcoins are losing massive amounts of value!

The crypto market is currently tense as altcoins such as Ethereum, Solana and Dogecoin are suffering significant losses. According to information from IT Boltwise The market was weighed down by macroeconomic concerns and fears of a possible trade war, leading to general uncertainty. Despite positive developments, such as inflows into ETFs and progress in legislation surrounding stablecoins, the pressure on the markets cannot be alleviated.

Over $600 million worth of crypto liquidations were recorded in the last 24 hours, with $500 million coming from long positions. Bitcoin, still the leading crypto asset, fell from an intraday high of $111,200 to just over $107,000. Altcoins also suffered, suffering price losses of between 5 and 7 percent. It would be crucial for Ethereum to sustainably exceed the $2,900 mark in order to initiate a positive trend reversal.

Market developments and altcoin potential

Arthur Hayes, the former CEO of BitMEX, is optimistic about an upcoming altcoin season in summer 2025, with Ethereum expected to outperform Solana. However, this altcoin season could be more selective and measured than 2021. Despite the current challenges, Ethereum has shown notable bullishness over the past few months with a 50% increase, indicating a potential market resurgence.

An interesting project within the Solana ecosystem is Solaxy, which aims to improve Solana's scalability and performance. Already in the presale phase, the SOLX token has raised $39.1 million, and staking this token offers investors a return of 103% APY. Once the presale phase is complete, the SOLX token will be deployed across multiple blockchains.

Short-Term Outlook and Market Volatility

Current market volatility is being influenced not only by liquidations and falling prices, but also by rising US Treasury yields and escalating tariff tensions. These factors add to the uncertainties in global markets and contribute to the current pressures. At the same time, Ethereum remains a key player in the future development of the market and could play a central role in the coming months.

In summary, despite the current challenges and uncertainties, comprehensive data and market analysis such as those available on platforms such as CoinMarketCap are crucial to following developments in the cryptocurrency sector. CoinMarketCap, founded in May 2013, provides a reliable source of current cryptocurrency prices, charts and historical data and allows users to select specific time frames for price charts.

The website tracks over 97% of all tokens and lists over 2 million tradable pairs in the global crypto market. This comprehensive information is essential for investors who want to navigate a rapidly changing environment.