84% of Binance Altcoins Below Key Level, Streak Nears Record

The proportion of altcoins on Binance trading below their 200-day moving average hit 84% last week, a reading that pushes the current underperformance streak into the second-longest since 2020, CryptoQuant analysts wrote in a report.

CryptoQuant measures the bear market toll by comparing each altcoin's drawdown from its Q4 2025 high to Bitcoin's decline. The gap has widened sharply: some altcoins have lost nearly 65% since that peak, while Bitcoin's drop fluctuates above 50%.

The Total 3 index, which tracks altcoin market capitalisation excluding Ethereum, also plunged further below its 200-day moving average. On Binance, wallet inflows continue, setting up additional selling pressure. Retail traders have been dumping positions to stem losses, and a cross-section of whales that accumulated during the first quarter of the year are now gradually exiting, the analysts said.

"A prolonged period of stagnation across the majority of altcoins, one that is pushing investors to their limits," the report said. "That said, this marks the second-longest underperformance streak since 2020. The only comparable episode occurred during the last bear market, where this dynamic lasted approximately ten months."