Bitcoin's prolonged month-long decline has dragged the broader altcoin market into deep losses, with several major tokens shedding a quarter to nearly half their value. BCH leads the carnage with a staggering 45.9% drop to $247.89, followed by PENGU down 40.7% to $0.006756 and PI and PEPE both off 27.8%.
Why it matters
The scale of these drawdowns signals more than routine volatility — it reflects a risk-off rotation that is hitting speculative and mid-cap assets hardest. ADA is down 26.8% to $0.1877, VET off 27.0% to $0.005343, and even ETH has shed 26.5% to $1,759, underscoring that the selling pressure is broad-based and not confined to low-liquidity tokens. When ETH and ADA move in lockstep with meme coins like BONK and PEPE on the downside, it typically signals macro-driven de-risking rather than project-specific weakness.
Market impact
With ARB at $0.08939 (down 25.3%) and TAO at $214.09 (down 25.4%), even AI-narrative and Layer-2 tokens that held relative strength earlier in the cycle are now capitulating. Historically, altcoin drawdowns of this magnitude during a BTC correction tend to precede either a sharp BTC stabilisation that triggers a relief bounce, or a further leg down if Bitcoin fails to hold key support. Traders should watch BTC dominance closely — a continued rise would signal further altcoin pain ahead.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAI31Wohi3JVHNidxbkDvHNj2IWnIFCAAALbGWsb9PoJSbnhEhVfdMcDAQADAgADeQADOwQ)
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