"95% of Altcoins Below the 200-Day Moving Average…Could This Signal a Local Bottom?"
Summary
- It said about 95% of altcoins listed on Binance are trading below the 200-day moving average, interpreting this as a signal that has repeatedly appeared near bear-market lows in the past.
- It added that 95–98% of all altcoins remain below long-term trend lines, with more than 37% trading near all-time lows—with some saying conditions are more severe than during the FTX collapse.
- It noted the Altcoin Season Index edged up to 37 from 35, but Bitcoin continues to dominate the market, with Bitcoin repeatedly moving above the $67,000 level.
Forecast Trend Report by Period
A majority of altcoins (cryptoassets other than Bitcoin) are trading below the 200-day moving average—a key long-term support level—raising the possibility that the cryptoasset (cryptocurrency) market may have entered a local-bottom zone.
According to Cryptopolitan, a cryptoasset (cryptocurrency) news outlet, about 95% of altcoins listed on Binance are currently trading below their 200-day moving averages. The indicator is viewed as a signal that has repeatedly appeared near bear-market bottoms in the past.
The outlet added that 95–98% of the overall altcoin market is now sitting below long-term trend lines. Historically, such phases have coincided with Bitcoin (BTC) bottoming and were followed by subsequent rebounds.
Altcoins are also being pressured by investor fatigue, low leverage and constrained returns. More than 37% of all altcoins are trading near all-time lows, with some assessments suggesting conditions are even more severe than during the FTX collapse.
Meanwhile, the Altcoin Season Index has inched up to 37 from 35, but the market is still classified as a phase dominated by Bitcoin. Bitcoin has been oscillating above the $67,000 level, but has failed to hold after touching $70,000.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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