ETHUSDT Altcoin market capitalization has fallen by $234 billion over the past two weeks, with a few days seeing even larger absolute declines. This can reasonably be considered an event in the altcoin space bear market. This is one of the largest altcoin devaluations ever and highlights a clear disconnect between Bitcoin and the typical rotation of capital into the altcoin landscape in previous market cycles. The market environment is made more challenging by the fact that many assets are struggling to achieve widespread adoption or product-market fit.