The cryptocurrency market experienced a significant downturn, with altcoins losing $600 million in value, while Bitcoin maintained its position above $100,000. This market correction, described by analysts as temporary, saw altcoins suffer substantial losses, with XRP plummeting nearly 50% within an hour. Despite the intense sell-off, Bitcoin's stability suggests the bull market could persist if it remains above the $100K threshold. Crypto analyst VirtualBacon highlighted the severity of the crash, marking it as one of the most intense in eight years. However, the market's future outlook remains optimistic, with expectations of rising liquidity and potential interest rate cuts later in the year possibly aiding a recovery.