CryptoQuant analyst Darkfost said altcoins have been among the hardest-hit sectors in the current weak market, with repeated failed momentum recoveries. According to CryptoQuant, about 84% of Binance-listed altcoins are now trading below their 200-day moving averages, an extreme depressed state that has lasted nearly eight months — the second-longest weak cycle since 2020, behind only the roughly 10-month downturn in the previous bear market.