Altcoins Endure Longest Depression Streak Since 2022

Altcoins are in their longest depressed trading range since the 2022 bear market. Over 84% of altcoins trade below their 200-day moving average, with few signs of a turnaround, according to CryptoQuant analyst Darkfrost.

The streak began after the October 2025 liquidation event. Darkfrost said it is the second-longest continuous underperformance period since 2020.

Altcoins remain closely tied to Bitcoin (BTC) sentiment. A weakening BTC does not push traders into altcoins. Instead, altcoins track BTC's direction but suffer steeper losses during downturns. The altcoin season index sits at a neutral 49, showing no rotation from Bitcoin into smaller tokens.

Since October 2025, altcoins have drifted sideways for eight months. The market has lost over $1 billion in value during that stretch. Ethereum (ETH) and Solana, which historically triggered altcoin rallies, are both stagnant. User enthusiasm for both networks is low.