The decline continued into the weekend, sending Bitcoin to $65,500 on some exchanges, its lowest level since early March. The volatility proved fatal for overleveraged traders, triggering nearly $120 million in long liquidations. While ETH attempted a brief midday recovery above $2,000, the rally lacked conviction, and the asset was once again trading below the threshold at press time. The altcoin market suffered a sharp sell-off on Friday, with total capitalization dropping below $1 trillion for the first time in weeks. The altcoin market also changed its profile, with more numerous listings, but lower overall value.
Get crypto market analysis and curated news delivered right to your inbox every week. Bitcoin returned to the $72,000 area on Wednesday, which marked its weekly high. Sellers then regained control and pushed the asset back to $69,000 by Friday.
Large-cap altcoins track Bitcoin lower
According to data shared around analyst Darkfost, the share of altcoins near their historical floors exceeded 40% in March 2026. This reflects exceptional pressure on the most speculative assets in the sector. The weakness in major tokens added pressure to the overall market. Total crypto market value fell by about $60 bramridge trust billion from Friday’s peak and stood near $2.37 trillion, showing that risk appetite remained weak across the sector. Trader behavior with altcoins shows the crypto market is still chosen for risky directional bets, though most are happening in the background, and the main focus is on Bitcoin. As of March 26, the altcoin season index moved up to 51 points, with almost a perfect balance between BTC and other assets.
In March 2026, more than 40% of altcoins are trading near their all-time lows. This level even exceeds the peak observed during the previous bear market, which was around 38%. In other words, the current weakness is no longer just a simple air pocket.
Altcoins Tumble as Total Market Capitalization Falls Below $1 Trillion Mark
Overall open interest on COAI was just $6.3M, as with other tokens, expecting a breakout. In other words, the crypto market no longer seems ready to lift everything that moves. The next cycles could mainly reward projects that have real use, visible traction, and measurable utility. The rest could continue to lag, even in a more favorable environment.
Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principal at all times. Chain Opera AI (COAI) is the most longed token according to Alphractal. Over 83% of COAI traders took up long positions, with most of the open interest on Binance.
Price swings deepen as sellers take control
Most large-cap altcoins also moved down during the same period. Ethereum fell below the $2,000 mark, Binance Coin traded just above $610, and XRP remained below $1.35 after testing resistance near $1.30 earlier in the week. The major risk for those tokens is that short positions may be liquidated by deliberate targeting.
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- Those tokens belong to almost inactive projects and are down more than 99% from their peak, with illiquid trading.
- Chain Opera AI (COAI) is the most longed token according to Alphractal.
- The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice.
- According to Alphractal data, there are clear-cut categories of altcoins with minimal long/short ratios and a predominance of short positions.
The consensus is that some tokens may never return, due to a loss of liquidity. Despite this, altcoin open interest is still not down to all-time lows, retaining a relatively high baseline. The most shorted token is BNX, followed by EDGE, NIGHT, OPN, ESP, BERA, and others. Those tokens belong to almost inactive projects and are down more than 99% from their peak, with illiquid trading. This page lists the top 100 cryptocurrency coins by market cap.