Zcash, BNB, Sui Lead Altcoin Losses As Crypto Market Slides
Altcoins extended their losses as the February selloff deepened, with major tokens like Solana, XRP, BNB, and others dropping 4% to 6% in 24 hours. Zcash recorded the steepest loss among the top 30 altcoins, falling 6.5%. This decline gained momentum after Bitcoin’s October peak, with market liquidity remaining low and retail interest subdued. Analysts attribute the weakness to capital moving into safer assets like gold amid a risk-off macro environment, with cascading liquidations exacerbating the declines. Prediction markets indicate less than a 10% chance of an “alt season” in Q1. Liquidity concerns are also tied to Fed hawkishness and continued outflows from Bitcoin ETFs. Both analysts expect broader market consolidation, with upcoming inflation data set to be a pivotal factor. A rebound is anticipated only with renewed institutional interest and ETF inflows, while altcoins are expected to remain highly volatile and vulnerable to further drawdowns.
