XRP and Dogecoin drop 12%: The notable 12% decline in both XRP and Dogecoin signals a severe downturn in the altcoin market. This decrease is part of a broader altcoin carnage leading to widespread investor concern and uncertainty.

Bullish liquidation peaked: The sharp plunge of these altcoins triggered the highest bullish liquidation levels in almost three years, highlighting significant market instability. This trend has further fueled fears of increased volatility and uncertainty across the cryptocurrency space.