Altcoins are arguably the phase that has suffered probably the most all through this bear market, stated CryptoQuant analyst ‘Darkfost’ on Tuesday.
84% of altcoins are buying and selling beneath their 200-day shifting common and are in a “state of complete underperformance,” he added.
“Each try at a momentum restoration has failed outright,” he stated, including that the altcoin market capitalization (excluding ETH) continues to slip, with a weekly shut beneath the 200 DMA now confirmed.
Altcoin Apocalypse
This isn’t new, as altcoins have been battered for the previous eight months and have the second-longest underperformance streak since 2020.
The analyst described it as a “extended interval of stagnation throughout nearly all of altcoins, one that’s pushing traders to their limits.”
He ended on a bullish word, stating that such durations have “traditionally additionally offered medium-term alternatives,” however figuring out them “calls for considerably extra rigorous asset choice” than in earlier cycles.
84% of Altcoins are buying and selling beneath their 200-DMA
Altcoins are arguably the phase that has suffered most all through this bear market.
Each try at a momentum restoration has failed outright, and the Whole 3, which tracks altcoin market capitalization excluding ETH,… pic.twitter.com/Umz8ONIZQu
— Darkfost (@Darkfost_Coc) June 29, 2026
The broader crypto market is down round 51% from its peak when it comes to capitalization, which is at present $2.15 trillion.
Nonetheless, high-cap altcoins corresponding to BNB, XRP, and Solana are down between 60% and 75% from their peaks. Nearly all of the lower-cap altcoins are down between 80% and 90% from their all-time highs.
Nonetheless, the highest three altcoin season indexes present between 48 and 51 out of 100, which is impartial.
Permabull analyst ‘Sykodelic’ was bullish as regular, stating, “issues are shaping up very nicely for altcoins.”
“I do know that could be very laborious to consider after the soul-destroying efficiency of alts over the previous few years, however issues actually are trying very constructive right here,” he stated on Monday.
This was backed up by technical analysts displaying that, for the primary time in over two years, the 1-week MACD has entered optimistic territory, “with the chart forming a robust backside place,” mirroring the 2020 cycle backside.
Crypto Market Outlook
A number of altcoins have made marginal beneficial properties in the present day, together with Solana, Hyperliquid, and Zcash, however most stay at bear-market bottoms.
Bitcoin reclaimed $60,000, nevertheless it didn’t final, falling again beneath that psychological stage throughout the Tuesday morning Asian buying and selling session.
In the meantime, Ether reclaimed $1,600 after Bitmine’s newest buy, nevertheless it solely lasted a number of hours, with the asset falling again to $1,590 on the time of writing.
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