Most cryptocurrencies are in decline, according to fresh data. We break down what’s happening with altcoins on Binance in late June.
About 84% of altcoins listed on Binance are in a “state of complete underperformance,” trading below their 200-day moving average. CryptoQuant analyst Darkfost reported this. In his view, altcoins have been the hardest-hit segment of the current bear market.
Every recovery attempt has failed. The Total 3 index, which tracks altcoin market cap excluding ETH▼$1,576.27, continues to decline, confirming a weekly close below the 200-day MA.
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Altcoins at a Record Low — “Last Time It Was This Bad Was in 2020”
Darkfost emphasized that this pattern has persisted for nearly eight months–the second-longest underperformance streak since 2020. The only comparable episode was during the previous bear market, when the trend lasted about ten months.
The prolonged stagnation of most altcoins is testing investor patience. The chart also shows that altcoins remained closely tied to bitcoin’s (BTC) price action throughout the cycle.
Against this backdrop, total crypto market cap has fallen about 51% from its peak to $2.15T. Major altcoins like BNB, XRP, and Solana (SOL) have lost 60% to 75% from their highs. Most low-cap altcoins have dropped 80% to 90% from all-time peaks. Altcoin season indexes are in neutral territory at 48-51 out of 100.
Read more: Top 5 Altcoins for the Next 100x Crypto – Best Crypto to Buy Now 2026
“Such Periods Historically Opened Medium-Term Opportunities”
Darkfost noted that the current situation confirms the prevailing bearish trend. Still, similar periods have historically opened medium-term entry opportunities. But identifying such points has become harder than in previous cycles–requiring far more rigorous and selective asset picking.
“The era of broad-based growth, when the entire market moved up, is over. Now results depend on picking specific tokens, not on segment-wide momentum,” Darkfost concluded.
Perma-bull Sykodelic remains optimistic. He pointed out that for the first time in two years, the 1-week MACD has entered positive territory, mirroring the 2020 bottom pattern.
If historical patterns repeat, the current zone could be an entry point for medium-term positions–but with a high degree of selectivity. The key indicator to watch is altcoins moving back above their 200-day MA, which could signal a trend change.
Learn more: Crypto Market Crash or Next Mega Rally? Top 3 Scenarios That Decide Whether Bitcoin Hits $100K Again in 2026
