CryptoQuant: 39% of altcoins are close to historical lows

New data from CryptoQuant shows the deepest drop in altcoins in the current cycle: 38.8% of them are trading near all-time lows. This is higher than the 37.8% recorded immediately after the FTX crash in November 2022, and demonstrates even worse dynamics than the crisis at the time.

The context makes the figure particularly telling. After FTX, the market experienced a systemic shock: Bitcoin was worth about $ 16,000, a chain reaction was destroying lenders and exchanges, and investor confidence was at an all-time low. Nowadays, Bitcoin is hovering around $ 65,700, there are no large-scale bankruptcies or infrastructure collapses, but altcoins are still in an even worse state.

Analysts explain this as a «slow bleeding» of capital: investors are gradually withdrawing funds from altcoins and directing them to stocks and commodity markets. In contrast to the acute shock of 2022, the current decline is the result of a prolonged liquidity outflow and correction after the overheating of 2024−2025.

CryptoQuant’s chart shows three key spikes: after the FTX in 2022−2023, during the correction in April 2025, and the current one, the deepest, which exceeded 38%. At the same time, the high rate of Bitcoin did not protect altcoins; on the contrary, the concentration of capital in BTC only exacerbated their weakness.

At the same time, 61.2% of altcoins are not near historical lows. This is not a signal for growth, but rather a structural feature: some assets have already lost most of their value, while others still have room to fall. Whether the current situation will turn into an opportunity for investors depends on which projects are near their lows — due to fundamental problems or just macroeconomic capital outflows.