TOTAL3 Slides 44.6% in 238 Days to $660B as Altcoin Breadth Stays Weak

TOTAL3, a proxy for the crypto market excluding Bitcoin and Ethereum, fell to $660 billion after a 44.6% drop from its October 2025 peak over 238 days. Market breadth remains pressured, with 83% of Binance-listed altcoins below their 200-day moving average and CoinMarketCap's Altcoin Season Index at 43. Analysts cited these readings as late-cycle capitulation signals, while noting that confirmation of a durable bottom is still lacking.