Small-cap cryptocurrency falls to lowest level since the epidemic, speculative sentiment plummets.

The cryptocurrency market shows no signs of easing the selling wave, with the smallest market value and highest risk tokens bearing the brunt. The MarketVector Digital 100 Small Cap Index, which tracks the 50 smallest market cap tokens among 100 digital assets, fell to its lowest level since 2020 last Sunday. At this low point, the largest cryptocurrency Bitcoin has erased 30% of its gains so far this year, just weeks after hitting a historic high. The "altcoins", seen as a barometer for high-risk speculative sentiment, have significantly underperformed compared to larger market cap tokens in 2025.