84% of Altcoins Trade Below 200-Day Average After Eight Months of Sustained Weakness, CryptoQuant Reports

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According to CryptoQuant researcher Darkfost, 84% of altcoins listed on Binance for spot trading are currently trading below their 200-day moving average (200-DMA), a key technical indicator for assessing long-term market trends. This period of underperformance has persisted for nearly eight months, marking the second-longest stretch since 2020, with only the previous bear market having lasted longer at approximately 10 months. The Total3 index, which measures altcoin market capitalization excluding Bitcoin and Ethereum, has declined and recorded a weekly close below its 200-DMA as altcoins remain closely correlated with Bitcoin's price movements.
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