10x Research: Average price of top 115 cryptocurrencies down 50% from this year’s high

Markus Thielen, CEO of 10x Research, released a report saying that by analyzing the top 115 coins, the average price of cryptocurrencies has fallen by 50% from its 2024 highs. Unless cryptocurrency liquidity improves significantly, these losses will continue to mount. Currently, Bitcoin (-11%) and Ethereum (-13%) are performing relatively solidly, likely due to smart traders moving funds away from altcoins and into these two major cryptocurrencies, a phenomenon that has occurred over the past two years. It occurs in every market cycle. In an altcoin bear market, effective risk management becomes the key to survival. Token unlocking and unfavorable cryptocurrency liquidity indicators are believed to be the main triggers of the plunge. Thielen emphasized that today, altcoins are in a bear market. In 2024, 73% of these 115 coins peaked in March.