Darkfost, a CryptoQuant analyst, reported that 84% of altcoins on Binance are trading below their 200-day moving average, signaling underperformance.
This is the second-longest streak since 2020 and comparable to the previous bear market.
The prolonged stagnation has led to investor fatigue and raised questions about the possibility of an altseason.
Darkfost noted that similar periods have historically opened medium-term entry opportunities, but this requires rigorous and selective asset picking.