cryptosnake on Nostr: Altcoins on Binance are facing a prolonged downtrend, with 84% trading below their ...
Altcoins on Binance are facing a prolonged downtrend, with 84% trading below their 200-day moving average for nearly eight months. This period of weakness is the second-longest since 2020. The Total 3 index (altcoins ex-Ethereum) also shows a sustained downward trajectory, confirming weekly closes below its 200-day MA.
CryptoQuant analyst Darkfost notes altcoins' strong correlation with Bitcoin. While this indicates a clear downtrend, historical data suggests such phases often present mid-term investment opportunities. However, Darkfost emphasizes that this cycle demands a more discerning approach to asset selection.
#ALT #ETH #BTC #Darkfost
Published at
2026-06-30 03:36:26 UTCEvent JSON
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"content": "Altcoins on Binance are facing a prolonged downtrend, with 84% trading below their 200-day moving average for nearly eight months. This period of weakness is the second-longest since 2020. The Total 3 index (altcoins ex-Ethereum) also shows a sustained downward trajectory, confirming weekly closes below its 200-day MA.\n\nCryptoQuant analyst Darkfost notes altcoins' strong correlation with Bitcoin. While this indicates a clear downtrend, historical data suggests such phases often present mid-term investment opportunities. However, Darkfost emphasizes that this cycle demands a more discerning approach to asset selection.\n\n#ALT #ETH #BTC #Darkfost",
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