CryptoQuant: 84% of altcoins below 200-day average, momentum recovery fails
CryptoQuant analyst Darkfost says broad altcoin weakness persists. About 84% of Binance spot altcoins are trading below their 200-day average, a long-term trend gauge. Darkfost called the current backdrop “total underperformance,” now lasting nearly eight months and the second-longest stretch since 2020.
He adds that “every attempt at a momentum recovery has failed outright.” The weakness also shows up beyond small caps: “Total 3” (altcoins excluding ETH) closed below its 200-day average on the weekly chart.
Price action looks mixed but fragile. BTC is around $59.5k (24h -1.06%, 7d -6.08%) and ETH around $1.59k (24h +0.4%, 7d -7.22%). Some large alts like SOL, HYPE, and ZEC posted modest daily gains, but the altcoin market still struggles to reclaim the 200-day trend.
Darkfost links this to BTC’s behavior: after BTC fell below $60k, BTC inflows into Binance reportedly rose (monthly inflows roughly doubled), and retail attention has reportedly cooled to a one-year low. Traders may continue to favor BTC-led moves while altcoin bounces face resistance near the 200-day average.
Bearish
Altcoins are in a prolonged downtrend: 84% below the 200-day average and “Total 3” also under the same trend gauge. The analyst’s note that momentum recoveries repeatedly fail suggests rallies may be corrective rather than trend-breaking. BTC-related factors (rising Binance inflows after BTC loses $60k, cooling retail attention) can keep sell/pressure and limit sustained altcoin bid, weighing on both near-term rebounds and longer-term rotation into alts.