"The safe haven narrative, which briefly flickered to life when the U.S., Israel and Iran began striking each other on Feb. 28, all but collapsed under the weight of a broader risk-off sentiment."
"The downdraft was spearheaded by ethereum (ETH), which suffered a 4% intraday slide, dragging its market cap below the $240 billion mark."
"Solana (SOL) fared even worse, emerging as the biggest laggard among high-cap assets with a 5.4% plunge, shedding nearly 12% of its value in a 48-hour window."
"High-beta digital assets like WLD felt the brunt of the panic, diving 10%, while the day's biggest slide came from SIREN, which cratered by 51.5%."
On March 27, the altcoin market experienced a significant downturn as investors sought liquidity, causing total market capitalization to fall below $1 trillion. Ethereum led the decline with a 4% drop, while Solana suffered a 5.4% plunge. Overleveraged traders faced nearly $120 million in liquidations, particularly in long positions. Bitcoin also fell below $66,300, reflecting broader market volatility and geopolitical uncertainties. The sell-off was characterized by a lack of conviction in any recovery attempts, leading to substantial losses across various digital assets.
Read at news.bitcoin.com
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