Crypto market erases 40% from October peak at ₱41.41 trillion ($713 billion)
Following a massive post-election rally that doubled altcoin valuations in weeks, the crypto market has surrendered those gains entirely. The Fear and Greed Index now sits at 14, in extreme fear territory.
The Total market cap tracking all cryptocurrencies except Bitcoin and Ethereum dropped to ₱41.41 trillion ($713 billion), matching levels last seen on November 10, 2024. That's a 40% plunge from the ₱69.12 trillion ($1.19 trillion) peak hit in October 2025.
The November 5, 2024 election outcome triggered a massive 91% surge in Total3, rocketing the metric from about ₱34.85 trillion ($600 billion) to $1.16 trillion by December 2024. The market briefly climbed back to $1.13 trillion on January 18, 2025, two days before Trump's inauguration, before collapsing to the $900 billion range.
Bitcoin shed over 50% from peak to trough during the downturn, falling to about $60,000 before staging a limited recovery to around $68,000. Ethereum took an even harder hit, plummeting roughly 60% from its peak.
Investor sentiment crashed alongside prices. The Fear and Greed Index sits at 14, firmly in extreme fear territory according to CoinMarketCap's sentiment tracker. That's a deterioration from normal market conditions, though still above the record low of 5 recorded on February 5, 2026.
This article was written based on reporting from Cointelegraph.
