The Current State of Altcoins: Navigating a Bear Market
Author Information
Posted by: Journalist on November 15, 2025
Key Takeaways
How Badly Are Altcoins Underperforming?
CoinMarketCap’s Altcoin Season Index has recently hit 32 out of 100, a concerning signal for cryptocurrency enthusiasts. Currently, 72 of the top 100 cryptocurrencies are trading at 50% or more below their all-time highs, revealing a stark decline in market sentiment and performance.
What’s Happening to its Market Capitalization?
The total market cap of altcoins has witnessed a dramatic drop from $1.8 trillion in late October to a current valuation of $1.4 trillion. This represents an erasure of $400 billion in value, driven primarily by Bitcoin’s recent plunge below the psychologically important $100,000 mark.
The Ripple Effect of Bitcoin’s Decline
As Bitcoin’s price took a hit, altcoins found themselves on the receiving end of a market-wide downturn. This isn’t merely a minor blip; Bitcoin’s 23% fall from its October highs has had cascading effects. Major altcoins, including Ethereum and XRP, have also felt the sting, with Ethereum dropping to around $3,200—a decline of over 6%. Other significant tokens, such as BNB and several popular altcoins like SOL, ADA, and DOGE, have similarly experienced declines of 9% or more over the past week.
Technical Devastation in the Market
When analyzing the health of altcoins on exchanges, a critical indicator is the percentage of these assets trading above their 200-day moving average. Unfortunately, this figure has plunged, signaling bear market conditions. Historically, when this metric falls to current levels, altcoin prices suffer significant declines that can persist for extended periods before any recovery begins.
Source: CryptoQuant
Few projects continue to exhibit a bullish trajectory. With current trading activities reflecting such distress, the struggle looks formidable for altcoin holders.
The Enormous $400 Billion Vanishing Act
The macrophenomenon of the altcoin market cap can’t be overstated. Peaking at $1.8 trillion in late October, the market has now contracted by a staggering $400 billion in just a few weeks. This slow grind downward was further exacerbated as Bitcoin breached key support levels. The current levels—hovering around $1.4 trillion—symbolize a complete reversal from the momentum observed mere weeks ago.
Source: CoinGecko
Trading analysis indicates continued downward pressure, with the altcoin market cap recently reported at around $238 billion, down from $239.78 billion just a day earlier. This persistent decline suggests a lack of stabilization and recovery in sight.
The Cancellation of Altcoin Season
As of now, the Altcoin Season Index resides at just 32 out of 100, far from the 75 points needed to signify a strong altcoin season. This current score reflects maximum Bitcoin dominance, with altcoins experiencing severe pressure and declines.
As confirmed by Galaxy Research, 72 of the top 100 cryptocurrencies are currently trading at 50% or more below their all-time highs, illuminating the detrimental impact of recent speculative investments turned sour.
The Path Forward for Altcoins
The state of the altcoin market is precarious, characterized by a collapsing market cap and bearish technical indicators that point to further downside risks. Until Bitcoin finds a bottom and positive technical trends emerge, altcoins are set for an uphill struggle.
With traders rotating their investments into Bitcoin and stablecoins while fleeing illiquid altcoins, the looming question is whether this marks a final capitulation before resurgence or merely the onset of a crypto winter. The uncertainty is palpable.
Exploring the altcoin market reveals several intricate layers of dependency on Bitcoin’s performance. It’s a turbulent time for traders and investors alike, requiring keen attention to market shifts and metrics as we navigate these challenging waters.
