Ethereum, Solana, Dogecoin, Ripple Tumble Amid Broader Crypto Market Sell-Off, Weakening Retail Sentiment

Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Ripple (XRP) – the four largest cryptocurrencies after Bitcoin (BTC) – declined sharply on Monday as the broader cryptocurrency market fell following a tech sell-off and mounting concerns over China-based DeepSeek app.

Bitcoin, the largest cryptocurrency, dropped below $98,000 as U.S. stock markets opened. The decline was linked to DeepSeek’s cost-efficient AI model, which challenges OpenAI’s high-cost framework and raises questions about U.S. tech valuations. 

This uncertainty spilled over into crypto markets, intensifying selling pressure.

Liquidation data from CoinGlass revealed that $941.9 million in positions were wiped out in the last 24 hours, with $830.41 million being long liquidations.

Ethereum saw a 6% drop over 24 hours, pushing its year-to-date decline to 7%. 

Retail sentiment on Stocktwits remained in the 'neutral' zone (49/100), though message activity increased to 'normal' from 'low' levels a day ago.

Some investors cited concerns about Ethereum’s short-term trendline and feared further declines if it slips below $3,000. 

Others noted optimism over former U.S. President Donald Trump reportedly adding Ethereum to his portfolio.

Solana, known for its high-performance blockchain, declined more than 9% in 24 hours but remained up 20% for the year. 

Retail sentiment on Stocktwits improved to 'bullish' from 'neutral,' with discussions around Ethereum-to-Solana capital flow gaining traction. 

However, some investors dismissed the sell-off as an overreaction to DeepSeek's developments.

Dogecoin dropped by over 8% as retail sentiment fell to 'bearish' from 'neutral' a day ago. 

Discussions ranged from jokes about Elon Musk not using Dogecoin’s logo for the Department of Government Efficiency (DOGE) to more serious concerns about breaking key technical support levels. 

Despite the decline, some retail investors expressed optimism, recalling similar short-term dips in the past. 

Dogecoin has gained 2.5% year-to-date.

Ripple’s XRP saw a 6% decline, though its price remains up 40% year-to-date. 

Retail sentiment on Stocktwits stayed 'bearish,' with investors voicing concerns about Ripple Labs’ control of over 50% of the token’s supply. This centralization has drawn criticism for contradicting Bitcoin’s decentralized ethos.

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