Key Takeaways
How a lot did crypto markets lose and the way shortly?
The overall crypto market capitalization plunged from $3.55 trillion to $3.32 trillion within the final 24 hours..
What does an Altcoin Season Index of 23 imply?
A studying of 23 signifies “Bitcoin Season,” which means altcoins are severely underperforming Bitcoin. That is the bottom studying since March 2025.
The cryptocurrency market suffered a brutal $230 billion wipeout on 4 November, erasing good points from the earlier 24 hours.
Ethereum led the decline as altcoins crashed tougher than Bitcoin, pushing key sentiment indicators into panic territory and confirming the tip of any remaining altcoin momentum.
$230 billion vanishes in hours
Markets began the day at $3.55 trillion, and as of this writing, complete market capitalization had collapsed to $3.32 trillion. This was a 6.5% drop that accelerated all through the buying and selling day.
Supply: CoinMarketCap
The chart exhibits a pointy cliff dive with no significant assist holding.
Bitcoin fell 5.3% to round $100,900, breaking beneath the psychological $101,000 stage for the primary time in months.
Nonetheless, Ethereum crashed tougher, main to a devastating selloff amongst main altcoins that uncovered simply how fragile the current rally had turn out to be.
Ethereum leads Altcoin bloodbath
Ethereum crashed 12.15% to $3,166, dramatically underperforming Bitcoin’s 5.3% decline. The second-largest cryptocurrency suffered its worst single-day drop in months, falling from round $3,600 to take a look at $3,000 assist ranges.
Technical evaluation reveals a brutal breakdown of market construction. The LuxAlgo Market Construction indicator exhibits Ethereum broke by means of a important “Break of Construction” (BOS) stage round $3,600, triggering a cascade of promoting that accelerated into the shut.
Supply: TradingView
Key assist now sits round $3,000-$3,100. A break beneath this zone would probably set off one other leg down towards $2,800. Resistance reformed at $3,400-$3,600, with any restoration dealing with sturdy provide from underwater holders.
Altcoin season ends
Whereas Bitcoin remained comparatively resilient across the six-figure mark, Ethereum and the broader altcoin market bled considerably tougher.
The divergence grew to become crystal clear within the Altcoin Season Index, which plummeted to 23, its lowest studying since March 2025.
Supply: CoinMarketCap
The index measures the efficiency of altcoins relative to Bitcoin. Readings beneath 25 point out “Bitcoin Season,” which means capital is rotating away from altcoins and into Bitcoin or fleeing crypto fully.
At 23, the present studying exhibits altcoins are getting completely crushed.
The altcoin market capitalization has collapsed from roughly $1.8 trillion in September to round $1.4 trillion right now, representing a $400 billion decline in simply two months. The 90-day chart exhibits a brutal downtrend with no indicators of reversal.
Fear takes over
The Crypto Fear and Greed Index crashed to 27, firmly in “Fear” territory. Simply weeks in the past, the index traded within the 60s-80s vary, indicating greed and excessive greed. The fast shift in sentiment from optimism to panic occurred in lower than a month.
Buying and selling quantity reached $247 billion, indicating elevated ranges that counsel lively promoting relatively than passive holding.
When quantity spikes throughout declines, it sometimes alerts capitulation or pressured liquidation relatively than wholesome profit-taking.
What this implies for merchants
The Altcoin Season Index at 23 means the altcoin season is over. Till the index recovers above 50, betting on altcoin outperformance stays extraordinarily dangerous.
With worry gripping markets, sentiment wants important restore earlier than capital returns to speculative property. For now, Ethereum and altcoins stay beneath extreme stress with no clear backside in sight.
