Altcoins with 80-90% Losses Could Outperform Bitcoin, Analyst Claims

Crypto analyst Credible Crypto thinks that several beaten-down altcoins could offer better risk-reward than Bitcoin at current prices.

The analyst pointed out that many projects are trading between 80-90% below their all-time highs and may deliver outsized returns if the market turns.

Credible believes Bitcoin has been in a higher time frame downtrend since hitting its $126,000 peak last October, but thinks it's building a base within an important support zone rather than breaking the broader bull market.

The analyst cited on-chain data showing that nearly 80% of the BTC supply is now in the hands of long-term holders, which is the highest level on record. He believes these investors tend to gradually absorb supply until prices recover.