According to TechFlow, 10x Research released a report saying that altcoins are in a bear market. It analyzed 115 coins and the average cryptocurrency has fallen 50% from its high in March 2024. Unless the liquidity of cryptocurrencies is improved, these losses will be even more serious.

Bitcoin (-11%) and Ethereum (-13%) performed well, likely benefiting from smarter traders rotating into these two coins from altcoins, as has happened in the past two cycles.