Glassnode: share of altcoins above 200-day average falls from 88% to 66%
- —Share of top-100 altcoins above 200-day average fell from 88% to 66%
- —Only 42% of a 500-token sample trade above their 200-day average
- —Month-to-date: ETH -11.2%, SOL -12.9%, XRP -13.1%, BTC -3%
- —Market-wide spot volume versus BTC volume fell from ~4x to ~3x
Why it matters: Weakening altcoin trends while bitcoin stalls point to fading risk appetite and raise the risk of another correction.
Source: Cryptoast