FOMC's hawkish interest rate cut raises concerns about inflation, U.S. stocks plummet by 10%.
Most mid-to-large market cap memes on CEX and the Solana chain are bleeding heavily, only small-cap on-chain assets worth a few million hold up somewhat.
It's painful, but it's also expected.
Bull markets are never smooth sailing, and most altcoin holders also suffer during bull markets.
Sideways trading or declines for a few months, followed by a rally that ends in a month, is the norm.