Large-caps (BTC/ETH) saw their dominance rise temporarily (BTC from 40% to 43%) as investors fled to perceived safety, reflecting defensive capital rotation.

Mid-caps (SOL/AVAX) suffered the steepest declines (-35% vs BTC's -22%), showing leveraged speculative positions unwinding first. Their market share dropped sharply.

Small-caps faced liquidity crises, with many losing 50-70% as market makers withdrew. Their aggregate share collapsed, indicating capital exiting riskiest assets entirely.

This reveals a clear flight to quality: money moved from altcoins → large-caps → stablecoins (USDC supply surged). The hierarchy of sell pressure (small > mid > large) mirrors traditional risk-off cascades. Expect this pattern to repeat in future downturns until volatility subsides.