84% altcoins below 200-day moving average for 8 months

Darkfost said altcoins remain highly tied to Bitcoin’s price action during this cycle. Weak Bitcoin demand can limit altcoin rebounds, even when some tokens post short-term gains. He recently flagged a rise in BTC flows into Binance after Bitcoin moved below $60,000. Average monthly inflows into Binance doubled from 3,880 BTC to 7,600 BTC since April 13, creating possible sell-side pressure.

Crypto search interest has also fallen to a one-year low. That report said retail attention is lower than during the 2022-2023 bear market, even though prices remain far above old cycle lows. Lower retail attention means less speculative buying pressure for altcoins.

Darkfost said long weak periods have “historically also presented medium-term opportunities.” He added that finding them now requires more careful asset selection than in earlier cycles. His view fits the current split in the market. Hyperliquid and Zcash recently led parts of the altcoin market, though analysts warned that crowded sentiment and stretched indicators could raise pullback risk.

The underperformance streak could persist as long as Bitcoin fails to reclaim $60,000 and Binance inflows stay elevated. A break above the 200-day moving average for at least two consecutive weekly closes would start to challenge the bearish read. Darkfost’s historical data suggests long streaks often end with a catalyst tied to Bitcoin demand or a specific altcoin narrative. Without either, the setup stays weak.