$200 billion evaporated! 70% of altcoins fall below the 200-day moving average—is money fleeing?

If Bitcoin’s decline is painful, the drop in altcoins may make you question everything! 😂
The latest data shows that CryptoQuant analyst Darkfost noted that about 70% of Binance altcoins have now fallen below the 200-day moving average.
At the beginning of October, that figure was still only about 10%.
This means the overall technical structure of the altcoin market has deteriorated significantly in a short period.
More concerning, the total market cap of altcoins has shrunk by about $200 billion from its previous peak, and nearly two-thirds of the gains accumulated from August to September have been erased.
This is not just a matter of a few coins falling; the market’s overall risk appetite may be shifting.
When many altcoins fall below their long-term moving averages at the same time, investors tend to become more cautious, and funds may flow first into more liquid assets.
However, a $200 billion drop in market cap does not mean that $200 billion in cash has all flowed out of the market; changes in market cap cannot be equated with actual fund outflows.
What’s truly worth watching next is whether BTC can stabilize market sentiment and whether altcoins can climb back above key moving averages.
If these signals continue to worsen, the altcoin market may need to go through a further period of correction.
How long do you think this retreat of funds will last?

#70%山寨币跌破200日均线