Altcoins shed about $200 billion as 70% slip below 200-day moving average

A CryptoQuant analyst says the altcoin market has erased most of its late-summer rally, though extreme readings like this have historically preceded reversals The altcoin market has given back most of what it earned this fall. Altcoins, measured excluding Bitcoin and stablecoins, have lost about $200 billion in market value. About 70% of Binance-listed altcoins now trade below their 200-day moving average. From broad strength to broad weakness The figures come from a CryptoQuant Quicktake by analyst Darkfost, dated November 7, 2026, and shared on X around November 6-7. The analysis tracks the altcoin market cap with Bitcoin and stablecoins stripped out. That isolates the riskier end of the crypto market. Between mid-August and late September 2026, that segment added roughly $320 billion in value. Then the selling started. The subsequent drop of about $200 billion effectively reversed two-thirds of those gains, according to the analysis. The more telling number is the breadth of the damage. In early October, only about 10% of Binance-listed altcoins traded below their 200-day moving average. Put the other way, nearly 90% were sitting above that line. By early November, the picture h...