Altcoins Just Got Slammed

DAILY MARKET OVERVIEW

🔻 Altcoins Got Hit

👋 Hey, Crypto Enthusiasts! Yesterday was rough for the altcoin crowd. Let’s explore what happened.

Ethereum, XRP, Solana, and Dogecoin all took a sharp dive, wiping out a chunk of July’s hard-fought gains.

But before you panic - take a breath.
This kind of shakeout is normal for the course in bull markets.

Let’s break it down 👇

💥 Derivatives Overload Sparked the Drop

According to data, altcoin open interest has skyrocketed from $25B to $45B in just a few weeks - a new all-time high.

Which means that too much leverage entered the market, too fast.
And when the market starts unwinding, things get violent.

Yesterday’s dip? Pure liquidation-driven volatility:

• Ethereum: $130M in liquidations

• $100M+ from overleveraged longs

• XRP, SOL, DOGE: also saw heavy wipeouts

But here’s where things get interesting…

📈 Ethereum Leads the Recovery

Even after the flush, Ethereum held up - and today, it’s bouncing.

ETH is now climbing back toward $3,800, and that strength is key.
When ETH holds ground, alts tend to follow.

If Ethereum can push closer to $4,000, we could see a broader altcoin recovery gain serious momentum.

Still, Volatility remains elevated.

This isn’t the moment to go full degen. Manage risk and be selective.

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SOCIAL SENTIMENT

What Came Out of the Dip

This dip revealed a lot. Here's what we and the community noticed.

🔹 Meme Coins Flopped

Retail-favorite memes like Pepe and MOG got crushed.
No surprise - in volatility, capital retreats to safety.

🔹 ETH Is the Anchor Right Now

Institutional flows are still heavy into Ethereum.
And until ETH decisively reclaims $4K, most altcoins are in wait-and-see mode.

🔹 Looking for Beta to ETH? Try Ethena (ENA)

When ETH bounced, Ethena was one of the only ETH-betas that responded with strength.It’s showing strong recovery behavior.

But we’re not chasing here. The risk/reward isn’t ideal yet, and most of the smart money is still playing it close to the chest.

⚖️ Final Take: This Is a Classic Bull Market Correction

• Heavy leverage flushed.

• Weak hands got shaken.

• ETH is holding the line.

If we stabilize here, the next move up could be powerful - but patience is key.

Focus on ETH. Watch the majors. Avoid chasing weakness.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

deBridge Launches Buyback Fund Backed by 100% Protocol Revenue
deBridge will use all of its protocol revenue to buy back DBR tokens, aiming to boost value transparency and grow a $30 million reserve.

Dormant 2011 Bitcoin Wallet Moves $468M After 14 Years
A long-inactive Bitcoin wallet from January 2011 transferred nearly 4,000 BTC on Thursday, continuing a trend of massive whale awakenings.

Anchorage to Issue First GENIUS-Compliant Stablecoin With Ethena
Anchorage Digital will mint Ethena’s yield-bearing USDtb stablecoin, making it the first to comply with the newly signed GENIUS Act.

Trump-Affiliated World Liberty Partners With Vaulta, Buys $6M in Tokens
World Liberty has partnered with Web3 bank Vaulta and purchased $6M of its A token, while Vaulta will adopt the Trump-linked USD1 stablecoin.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

Lark Davis – Crypto Drops [Time To Worry?} (24.07.2025 Summary)

In this video, Lark addresses the recent crypto market drop and explains why he sees it as a normal correction rather than a major red flag.

• Pullback Was Expected: After a big run-up, some cooling off was inevitable. Many traders got liquidated after going long into resistance.
  

• Bitcoin Is Stable: Despite the noise, Bitcoin is holding up and consolidating - a healthy sign. No major warning signs of a top yet.
  

• Altcoins Hit Support: Coins like Ethereum, Solana, and Dogecoin have pulled back to strong technical support levels, offering potential trade setups.
  

• Institutional Demand Remains Strong: ETF inflows and corporate buys continue to add pressure on the supply side, especially for Bitcoin and Ethereum.
  

• Leverage Washout Is Normal: High-risk positions are being cleared, which helps reset the market and build a healthier base.

Takeaway: Lark views the pullback as part of a normal cycle, not the end of the bull run. He remains bullish, especially on BTC and ETH, and encourages smart, risk-managed entries.

Josh Olszewicz – Alt Coins: Is Alt Season Over? (24.07.2025 Summary)

Josh gives a comprehensive look at altcoins, treasury-backed crypto companies, and where the broader market may be headed. While some traders are asking if alt season is over, Josh urges caution and patience.

• Treasury Companies Under Pressure: Crypto firms holding BTC or ETH (like MSTR, SBET, BMR) have mostly pulled back. Many look weak on the charts, and Josh advises against jumping in without clear technical strength.
  

• Altcoin Rally Losing Steam: After big gains over the past month, many altcoins are now consolidating or retracing. Josh sees this as normal and expected, not necessarily the end of the cycle.
  

• Short-Term Weakness Likely: August and September tend to be slower months. BTC dominance may rise short term as alts cool off. A broader move may resume in Q4.
  

• Be Selective: While most charts look shaky. Josh emphasizes focusing on relative strength and avoiding overexposure to weak setups.
  
  

• Watch Gold: Josh sees gold setting up for a breakout. If it runs first, crypto may follow later - suggesting a rotation in Q4.

Bottom Line: The altcoin rally has paused, not ended. Josh sees signs of strength in select names, but overall urges caution, especially in the short term. October and beyond could offer better conditions.

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