CryptoQuant analyst Darkfost revealed that nearly four in 10 altcoins are trading close to their all-time price lows, a sign of deep and widespread weakness in the broader cryptocurrency market.
The analytics provider’s latest on-chain indicator shows that 38% of altcoins are near their historic bottoms, a percentage that has not been exceeded at any point since the shockwaves of FTX’s bankruptcy in late 2022. The metric, which tracks the share of tokens trading at a small percentage of their all-time lows, points to a market under immense bearish pressure.
Altcoin Weakness Greater Than Post-FTX Levels
Following the collapse of FTX in November 2022, altcoins broadly plunged amid deteriorating confidence. Many major tokens fell sharply as liquidity dried up and risk assets were sold off. The percentage of altcoins trading near their ATL quickly climbed to 37.8%. However, current price trends show that several leading altcoins are far below even those stressed post-FTX levels. For added comparison, the bearish market of April 2025 only brought the metric down to 35%.
Polygon, for example, reached its peak above $1.2 just two years ago. Currently, POL sits at around $0.098, roughly 92% lower than its ATH and just 14% above its ATL. Jupiter, another high-cap token, has likewise tested the lower bounds of its price basis. Trading around $2 at its peak, JUP currently trades around $0.13, a major 91% drop from its ATH and just 34% above its ATL.
Many more altcoins are subject to these price dynamics, contributing to the rising number of tokens approaching their all-time lows. Analysts say the trend reflects not only macro risk aversion but also concentrated capital flows toward more liquid assets such as Bitcoin, equities, and commodities.
Market Forces Behind Bearish Altcoins Trend
Several overlapping factors continue to exert pressure on smaller crypto assets. Macro conditions, including higher interest rates, risk-off sentiment, and geopolitical uncertainty, have pushed capital toward traditional safe havens.
At the same time, major liquidity providers and ETF flows have shown a clearer preference for Bitcoin and other large tokens, leaving thinner markets, such as smaller altcoins, more vulnerable to drawdowns. Recent market analysis has highlighted record liquidations and structural selling in crypto markets as contributing to ongoing weakness.
Another factor is the lack of substantial retail and institutional reinvestment into altcoin projects. Without renewed demand or fresh capital injections, prices near historic lows can persist, especially when Bitcoin leads or dominates broader market sentiment.
Historically, similar patterns have coincided with long consolidation periods in which only fundamentally strong projects regain upward momentum. However, Darkfost believes this risk-off environment may amplify opportunities that eventually emerge.
Temitope Olajide
The CoinRemark Team
