Altcoins Pull Back, TAC Drops Over 40% in 24 Hours

A 40% single-day drop in TAC, set against a broad altcoin pullback, points to a market where liquidity is thinning and idiosyncratic weakness gets punished fast. The significance lies less in the headline number than in what it says about positioning: risk-off sentiment is no longer confined to majors, and smaller tokens are absorbing the sharpest moves. Whether this remains a correlated de-risking episode or starts to expose token-specific fragilities is the open question worth watching.