About 84% of the altcoins in the currency fell below the 200-day moving average, and the weakness lasted for nearly eight months

CryptoQuant analyst Darkfost issued a document saying that about 84% of the altcoin trading price in Binhang fell below the 200-day moving average. This situation has lasted for nearly eight months, which is the second longest weak cycle since 2020, second only to the previous bear market. The record of about ten months. The Total3 index, which tracks the market value of altcoins divided by Taifang, continues to fall, confirming that the weekly close is below the 200-day moving average. Darkfost pointed out that altcoins maintain a high correlation with bitcoin prices in this cycle. Although the current weakness confirms a downward trend, historical patterns show that such periods usually provide medium-term opportunities, but this cycle requires stricter asset screening than before.