Small-cap crypto tokens hit four-year low as 'altcoin bull market' fades

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Altcoin market sentiment has deteriorated sharply in 2025, with small-cap crypto tokens hitting a four-year low. The CoinDesk 80 index has fallen nearly 40% year-to-date, while the MarketVector Digital Assets 100 small-cap index has reached its weakest level since late 2020. The broader crypto market has lost over $1 trillion in value by year-end, with small-cap altcoins underperforming Bitcoin and Ethereum. Meanwhile, major U.S. stock indices have posted double-digit returns with lower volatility, highlighting the altcoin market’s struggles.
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