For years, the crypto industry argued that institutional adoption would drive price momentum and prevent major crashes.

Currently, that narrative appears broken as the market is not just slowing; it is showing signs of deep struggle.

Crypto market tests hard waters

As per an analyst, in the past 140 days, more than $2 trillion in value has been wiped out. The total crypto market cap has shrunk sharply. Bitcoin [BTC] has fallen to around $63,228, nearly 50% below its peak as of writing.

Ethereum [ETH] was trading near $1,825, down about 62% from its high. The biggest damage, however, is in altcoins. Solana [SOL] has dropped around 68%, and many smaller tokens have lost up to 90% of their value.

Instead of fear and greed, the…