$XRP , $DOGE , and $SOL led a sharp drop in altcoins this week, falling around 5% in 24 hours and up to 18% from recent highs. Meanwhile, Bitcoin held relatively steady, down just 3% from its peak.
The pullback was likely driven by excessive leverage in altcoin markets, with open interest hitting historically risky levels. Despite the drop, analysts say altcoin season could still continue — but only if Bitcoin Dominance stays below its 200-day moving average, a key technical signal that has historically preceded extended altcoin rallies.
For now, traders are advised to be cautious and wait for confirmation before diving back into altcoins.
