Ethereum Selloff Deepens: Top 5 Coins Plunge Up to 50% – Is the Altcoin Season Over?

The cryptocurrency market experienced a significant downturn this week, with the top five altcoins suffering losses of up to 50%. This shakeout has left investors questioning whether the recent surge in altcoin prices is over. RAY, WIF, BONK, and FARTCOIN were among the hardest hit, with their valuations plummeting considerably. While some believe this may be a temporary correction, others see it as the end of speculative altcoin cycles. 10-day moving average of the top cryptocurrencies has crossed the support levels, signaling sustained bearish momentum for the market.