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- Altcoins got hit hard as XRP, DOGE, and SOL led losses with heavy long liquidations.
- SEC pause on Bitwise ETF and weak altcoin mood dragged the crypto cap under $3.83 trillion.
Cryptocurrency markets faced a sharp pullback over the past 24 hours, with significant drops among major altcoins. XRP and Dogecoin both recorded losses exceeding 10%, while Solana fell by about 7.87%. These declines came as broader sentiment weakened, with the total crypto market capitalization slipping back to around $3.83 trillion.
During the same period, Bitcoin remained relatively steady, falling below $120,000 but staying above $118,000. Analysts linked the broader losses to profit-taking by large holders and a fragile environment surrounding altcoins.
The SEC’s unexpected decision to pause its earlier approval of converting Bitwise’s crypto index fund into an ETF further added to the cautious tone.
Meanwhile, regulatory concerns are again surfacing. Although the Trump administration has shown support for the crypto sector, the SEC’s move shows lingering hesitation toward ETFs that involve cryptocurrencies beyond Bitcoin and Ether.
$963 Million Liquidated as Longs Take the Bigger Hit
Total liquidations across the crypto market in the last 24 hours reached $963.52 million. Long positions accounted for a massive $841.40 million, while shorts only made up $122.12 million of the total. XRP led the liquidation figures among altcoins, with $112.87 million wiped out — $105.84 million from long traders and $7.03 million from shorts.
Dogecoin was close behind, suffering $55.59 million in total liquidations. Of this, $48.58 million came from long positions, showing a clear tilt toward long-side speculation being caught off guard. Solana recorded $57.69 million in liquidations, with long traders making up $53.92 million of that figure.
At the same time, CoinMarketCap’s altcoin season indicator dropped from 55 to 37, highlighting the ongoing weakness across non-Bitcoin assets despite a rise in retail activity in recent weeks.
Sentiment Weak Across Altcoins, Analysts Eye Key Levels
Broader market signals show declining optimism across altcoins, with no immediate trigger expected to lift XRP or similar tokens. Bitpanda deputy CEO Lukas Enzersdorfer-Konrad said,
The key thing to watch now is whether momentum broadens across other altcoins or remains concentrated — this will help determine how sustained XRP’s move is.
He added that XRP’s future gains likely hinge on the strength of the overall altcoin market.
XRP tends to be highly sensitive to broader altcoin sentiment and regulatory narratives.
Another factor that could influence direction is whether Bitcoin sets a new record above $124,000 and holds there, which may allow money to move into smaller tokens.
Dom, a known crypto analyst, reached a bullish scenario for XRP, estimating a potential climb to $7–$10 if the overall market rebounds. Dogecoin’s recent price pattern shows signs of a possible reversal. Analysts point to a double-bottom formation on its chart. This, along with DOGE’s breakout from a multi-month downtrend, could support an upside push toward $0.478.
Solana still holds a favorable medium-term outlook, according to several experts. The focus remains on the $180 support level. Whether it holds or breaks may determine whether the recent correction is a brief pause or a deeper slide.
