Altcoin Market Takes a Sharp Plunge: Expert Sees Corrective Cycle

The altcoin market has experienced a significant downturn, with widespread liquidation events wiping out leveraged positions across multiple asset classes. Crypto analyst Michaël van de Poppe attributes this selloff to a normal correction within an overall bullish trend, even though it’s been painful for many investors and traders. He notes the sharp drop in prices is largely caused by liquidations of leveraged long positions as market sentiment turns defensive.