altcoin

CryptoQuant analyst Darkfost pointed out that the market capitalization of altcoins has shrunk by about 200 billion dollars, with about 70% of altcoins on Binance falling below the 200-day moving average. From mid-August to the end of September, the market capitalization of altcoins, excluding Bitcoin and stablecoins, had increased by 320 billion dollars, but the subsequent pullback erased most of the gains.Darkfost stated that in mid-August, 82% of altcoins on Binance were below the 200-day moving average, and by early October, this proportion had dropped to 10%, with nearly 90% above that average. Following this, the macro and political environment deteriorated, with central banks in the US, Europe, and the UK raising interest rates, and the results of the midterm elections increasing uncertainty. The stock market, especially technology stocks, saw a significant decline, with the Nasdaq falling 14% from recent highs.As a result, the market capitalization of altcoins has shrunk by about 200 billion dollars, erasing nearly two-thirds of the gains from August to September. Currently, about 70% of altcoins on Binance have fallen below the 200-day moving average, and this proportion is approaching 80% again. Darkfost indicated that historically, such extreme situations sometimes signal a trend reversal.

The proposed rule allowing alternative assets such as cryptocurrencies to enter 401(k) retirement plans has been submitted to the White House for final review on November 5. The proposal does not limit the types of cryptocurrencies that can be included, nor does it set a minimum market capitalization threshold, meaning that altcoins and small to mid-cap tokens may also have the opportunity to enter U.S. retirement investment plans in the future.However, industry insiders point out that asset management firms still need to comprehensively assess performance, fees, liquidity, valuation, benchmark indicators, and investment complexity when selecting investment targets. Bitcoin and Ethereum, with their mature markets and investment products, are expected to gain access first, while small to mid-cap tokens may face higher barriers due to insufficient historical data, limited liquidity, and lack of reliable valuation benchmarks.In addition, experts expect that cryptocurrency ETFs and managed funds will enter 401(k) plans before direct holding products, as the former are easier to adapt to existing custody and account management systems. The industry anticipates that some cryptocurrency investment options may begin to be implemented in 2027, with further expansion of coverage expected around 2028.The proposal still needs to complete the White House review and subsequent legislative processes, and it will not completely exempt retirement plan managers from fiduciary responsibilities and litigation risks.

According to monitoring by Lookonchain, the Mercado Bitcoin hacker has sold various altcoins including PEPE, AAVE, UNI, ONDO, and ENA, and has converted all the obtained assets into ETH. Currently, the hacker holds 7,988 ETH, worth approximately 18.19 million USD.

According to on-chain analysis platform Lookonchain, the Brazilian cryptocurrency exchange Mercado Bitcoin has been hacked, resulting in a loss of over 46 million dollars, with more than 9 million dollars of stolen assets already frozen.The hackers currently hold a total of approximately 9.2 million dollars worth of altcoins, which may face selling pressure. This includes 37.29 billion PEPE, valued at about 1.79 million dollars; 12,820 AAVE, valued at about 161 thousand dollars; 769,950 PENDLE, valued at about 135 thousand dollars; and 29,830 EVA, valued at about 126 thousand dollars.Additionally, it includes 1.98 million VIRTUAL, valued at about 115 thousand dollars; 147,840 UNI, valued at about 104 thousand dollars; and 2.67 million ONDO, valued at about 103 thousand dollars.

According to monitoring by Lookonchain, the Binance hacker has cumulatively sold over 130 types of altcoins on the EVM chain, exchanging them for approximately 123,400 ETH and 1.69 million USDC, with a total value of about 279 million USD.Among them, approximately 7.0188 million UNI were sold for 17,585 ETH; approximately 217 million ENA were sold for 15,288 ETH; and approximately 7.77 trillion PEPE were sold for 14,049 ETH.

Binance co-founder He Yi responded to users on the X platform, stating that after the other altcoins are completed, reserve proofs will be provided for user verification.He Yi previously stated that Binance is in the process of supplementing other altcoin assets that have not yet been fully matched; the completed reserve proof snapshots involve 10 tokens, which are expected to be available for holders to verify after the complete zero-knowledge proof is generated.

Bonk Guy posted that BTC has fallen from about $79,000 to about $77,000, with most altcoins following with slight declines, but overall performance is stronger than BTC.He believes that Binance seems to have repurchased most of the stolen tokens from the theft incident, with the involved funds amounting to about $6.3 billion, of which about half (approximately $3 billion) has been frozen and is expected to be returned to Binance, while the remaining portion is also expected to recover most of it within a reasonable timeframe.Bonk Guy assesses that BTC may dip slightly again to form a local low, after which the market may turn positive in the coming weeks to months, and most of the downward pressure on altcoins may have been released, leaning towards going long on altcoins and gradually dollar-cost averaging during pullbacks.

Binance CEO He Yi stated that Binance's SAFU fund and the cryptocurrencies held by Binance include a large amount of assets such as BTC and ETH. Currently, they are completing the Proof of Reserves (POR) by fully matching all stolen altcoins through OTC and on-exchange purchases. After the purchases are completed, they will update everyone with the information again.

The cryptocurrency KOL Seven research stated that currently, the majority of the major funds and main margin accounts of market makers and quantitative institutions in the cryptocurrency market are on Binance. Many institutions are engaged in cross-exchange arbitrage or hedging, and the suspension of withdrawals by Binance could lead to a sudden halt in their capital chain.Seven research mentioned that if the market continues to fluctuate violently, relevant institutions will be unable to withdraw funds from Binance to supplement margins elsewhere. To prevent liquidation, they will be forced to close positions on other exchanges and on-chain, forcibly pulling cash back. They also indicated that this is why the stolen assets were Ethereum-based, resulting in Solana and a bunch of altcoins dropping on the same day.

Arthur Hayes posted on platform X that he has closed out the directional trading positions of Maelstrom, taking profits on ETH, ENA, UNI, and other altcoins.He believes that the market may need to experience a decline before it can rise again. Given the current uncertainties in the macroeconomic and geopolitical situation, he has decided to temporarily step back and wait for clear signals of risk resolution before re-entering the market.

According to on-chain analysis platform Glassnode, the leverage level in the altcoin market remains high. Since the leverage rate peaked earlier this month, the prices of related cryptocurrencies have experienced a pullback, but over 40% of large-cap altcoins still have leverage rates close to the highest levels of the year.The proportion of mid-cap altcoins in a high-leverage state has risen to a year-to-date high. Glassnode points out that if prices continue to decline, a large number of long positions in the market may face the risk of being liquidated.

Cryptocurrency trader Ansem shared his recent investment views, stating that the crypto market is gradually shifting towards a phase that places greater emphasis on the fundamentals of individual projects, capital inflows, and actual business performance. Therefore, identifying mispriced assets and determining which teams are truly driving project development will become increasingly important, rather than relying entirely on the trends of mainstream assets like Bitcoin and Ethereum.Ansem believes that the investment approach for altcoins in this cycle is different from previous ones. Assets like HYPE and ZEC have shown independent trends from Bitcoin and Ethereum even during periods of overall market weakness.

According to on-chain analyst Ai Yi's monitoring, a certain whale withdrew 2.455 million ONDO from Binance 12 hours ago, worth 1.144 million USD. Currently, this address still holds three major altcoins worth 9.218 million USD: UNI 1.014 million, worth 8.91 million USD, with an average withdrawal price of 8.79 USD, currently at a floating loss of 1.551 million USD; ONDO 2.455 million, with an average withdrawal price of 0.4662 USD; LTC 12,400, worth 841,000 USD, with an average withdrawal price of 67.86 USD, currently at a floating loss of 101,000 USD. This address is suspected to have cleared out BNB 6 days ago, with an expected loss of 73,000 USD.

Wintermute stated that the Federal Reserve's meeting minutes show that most officials expect another interest rate hike within the year, with the market pricing in a roughly 20% probability of a rate increase by the end of October. The yield on the 10-year U.S. Treasury bond rose to 5.24%. Against this backdrop, the S&P 500 index rose 1.2% last week, reaching a historic high, while the cryptocurrency market performed weakly. The rise in U.S. stocks was supported by expectations of corporate earnings growth, while the cryptocurrency market lacked similar earnings support and relied more on new capital inflows.As capital flows reversed, the cryptocurrency assets' sustained upward momentum over the previous six weeks became difficult to maintain. Bitcoin fell back from around $86,000 to $87,000 last week, dipping to about $80,400 on Thursday before rebounding above $83,000 and regaining the range high of $82,500. The U.S. spot Bitcoin ETF saw a net outflow of approximately $679 million last week, the largest single-week outflow since late June, while the Ethereum ETF experienced a net outflow of about $542 million.The cryptocurrency market has lost the support of capital inflows, while U.S. stocks still have earnings growth as a cushion. Therefore, in the short term, the market outlook will only remain optimistic if long-term Treasury yields stabilize and spot ETF funds turn back to net inflows. Before these two conditions are met, Bitcoin remains an asset that is more sensitive to U.S. stock volatility and has higher downside risks, making it inadvisable to chase low-quality altcoins. If the 30-year U.S. Treasury yield breaks above the 5.64% reached on September 30, or if Bitcoin continues to face resistance around $82,500, Wintermute will adopt a cautious stance. This week, attention should be focused on the U.S. September CPI data to assess whether energy inflation is spreading to core inflation, as well as the financial performance of financial institutions and AI-related companies.

According to Ai Yi's monitoring, the address 0x129...72EbE has accumulated a position worth 8.09 million dollars in altcoins over the past 4 hours, mainly involving artificial intelligence (AI) and cross-chain infrastructure sectors.The specific holdings and withdrawal price details are as follows:ZRO: 2.55 million coins (approximately 5.3 million dollars), withdrawal price is 2.08 dollars;WLD: 4.41 million coins (approximately 2.29 million dollars), withdrawal price is 0.5189 dollars;CHIP: 10 million coins (approximately 492 thousand dollars), withdrawal price is 0.04928 dollars.

@frankdegods is the founder of DeGods, who sold over 1 million dollars worth of altcoins on-chain in the past half hour, including 1 million dollars worth of BP, 250,000 dollars worth of EDEL, and 70,000 dollars worth of GP.

Liquid Capital founder Yi Lihua stated that he has recently warned multiple times that the market may experience a correction. Currently, Bitcoin has not yet broken through the key support level, but altcoins have undergone a comprehensive correction. He pointed out that he previously predicted a correction might occur after Bitcoin rose to around $86,000 about a month ago.Yi Lihua stated that during a bull market trend, most of the time will also be in a consolidation phase, with only a small portion of the time experiencing rapid increases and normal corrections; there will not be a continuously rising bull market. He believes that even if this correction is significant, it is a normal phenomenon within the bull market trend and advises investors not to attempt to trade constantly or seize every opportunity.

Cryptocurrency trader Ansem posted that frequently monitoring the market and judging price trends based on 15-minute candlesticks can easily lead to overtrading. Investors should manage their spot, perpetual contract, and high-risk on-chain trading accounts separately, and should not attempt to catch every local top and bottom, as this may harm long-term investment returns. Instead of frequent trading, it is better to study historical bull markets and observe how long upward trends typically last.The upward cycles of altcoins are usually faster, often outperforming the market for 4 to 6 months, after which new market leaders emerge, especially after a market capitalization growth of more than 10 times. However, there may be a few exceptions in this cycle: some altcoins may see significant revenue growth alongside price increases, thus their fundamentals may improve simultaneously.In past cycles, altcoins primarily peaked due to shifts in market attention and weakening momentum, but in this cycle, if some projects experience substantial changes in revenue and other data, institutional funds may continue to buy actively, and investors need to adjust their original judgments in a timely manner based on new information.In the last cycle, Bitcoin bottomed out in January 2023 and peaked in October 2025, with an upward trend lasting about 33 months. If this cycle bottomed out in July, it is currently only in the 4th month.It is believed that in a longer-term bull market, multiple "mini-bulls" led by specific altcoins will emerge, and investors need to identify these phase-strong assets and continuously reinvest profits into high-performing targets, allowing short-term winners to gradually transform into long-term investments.