Analyst: 38% of all altcoins are near all-time lows, worse than during FTX collapse

Thirty-eight percent of all altcoins have fallen to near their all-time lows, signaling an extreme deterioration in market conditions, crypto analyst Darkfost said in a contribution to CryptoQuant. He explained that market liquidity is flowing into more volatile stock and commodity markets, leaving the crypto market in a very fragile state. The pressure on altcoins this cycle is the most significant on record, Darkfost noted. The percentage of altcoins hitting new lows now surpasses the 35% seen in April of last year and the 37.8% recorded during the FTX collapse. This trend, he argued, indicates declining market interest and worsening sentiment toward altcoins, with investors maintaining a conservative stance and staying away from the market.