Altcoins are getting crushed! 70% are below the 200-day moving average—is a reversal closer than we think?

What’s the most interesting thing about the market?
When prices rise, everyone thinks they’re an investment genius; when they fall, everyone starts studying long-term investing!
Now, another noteworthy data point has emerged in the altcoin market.
CryptoQuant analyst Darkfost pointed out that around 70% of altcoins on a certain exchange are currently below their 200-day moving average, compared with only about 10% in early October.
Meanwhile, the total altcoin market cap has shrunk by about $200 billion from its previous peak, and nearly two-thirds of the gains from August to September have been wiped out.
What signal does this data send?
On the one hand, the widespread drop below the 200-day moving average indicates a weak long-term trend, and altcoins have yet to show a clear signal of a broad reversal.
On the other hand, as market sentiment remains depressed and some assets have already undergone significant corrections, opportunities may gradually emerge.
But keep in mind: extreme weakness does not mean a bottom is imminent.
What’s truly worth watching is whether the share of coins below the 200-day moving average can keep declining, whether the total altcoin market cap can stabilize, and whether trading volume becomes active again.
Only if these indicators gradually improve will there be more reason to discuss a trend recovery.
So, is this the continuation of the bear market, or the final shakeout before a reversal?
Do you think altcoin season still has a chance to return?
$NVDA

‌#70%山寨币跌破200日均线