{"id":38392,"date":"2025-07-23T14:46:55","date_gmt":"2025-07-23T14:46:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=38392"},"modified":"2025-07-23T14:46:55","modified_gmt":"2025-07-23T14:46:55","slug":"altcoin-season-takes-breather-with-sol-xrp-ton-among-those-posting-heavy-losses","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=38392","title":{"rendered":"Altcoin Season Takes Breather With SOL, XRP, TON Among Those Posting Heavy Losses"},"content":{"rendered":"
\n

Several of the largest altcoins suffered corrective moves to the downside on Wednesday, suggesting a pause or even end to altcoin season before it ever really got started.<\/p>\n

The sharp declines pushed bitcoin dominance back above 60% as the world’s oldest crypto remained relatively stable.<\/p>\n

Also notable were more than $200 million worth of long positions liquidated<\/a>, $43 million of which was on ether (ETH) markets and $32 million on XRP (XRP). Though bouncing a bit of its worst levels of the day, XRP remained lower by 5.2% over the past 24 hours.<\/p>\n

SOL and TON were also among those hit hard by the plunge, losing 7% and 11%, respectively.<\/p>\n

These sudden drops are related to a lack of liquidity on altcoin trading pairs compared to bitcoin. Two percent market depth on bitcoin for example is around $40 million on either side of the order book on both Binance and Coinbase. For XRP, however, the total is between $5 million and $6 million on either side, meaning that a $6 million market sell order would incur 2% of slippage without accounting for liquidations.<\/p>\n

\"ETH\/USD<\/p>\n

Traders will be eagerly watching to see whether altcoins will bounce following a series of technical breakouts last week. If ETH can hold above $3,470 it would indicate a potentially bullish resolution as that prior point of resistance will have flipped to become support. A break below that level could decimate the altcoin market with more liquidations expected.<\/p>\n

Open interest for ETH is still at $24 billion, significantly higher than during its 2021 high when it failed to top $10 billion, indicating that much of the recent move has been driven by leverage.<\/p>\n

\"ETH<\/p>\n

CoinMarketCap’s altcoin season<\/a> indicator has also ticked down from 55 out of 100 to 47, demonstrating weakness across the altcoin sector despite a recent rise in retail participation.<\/p>\n

A return to altcoin season will likely be seen if bitcoin can form a new record high above $124,000 and begin to consolidate above that point, leaving capital to rotate to more speculative altcoin bets.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Several of the largest altcoins suffered corrective moves to the downside on Wednesday, suggesting a pause or even end to altcoin season before it ever really got started. The sharp declines pushed bitcoin dominance back above 60% as the world’s oldest crypto remained relatively stable. Also notable were more than $200 million worth of long […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-38392","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/38392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38392"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/38392\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}