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BTC Altcoins are facing a new round of pressure: market breadth is weakening, and liquidity of small tokens continues to be sluggish.
Market overview: 40% of altcoins are approaching historical lows.
Cryptocurrency analyst Darkfost said that about 40% of altcoins are currently trading at close to their historical lows. He pointed out that the data reflects the pressure on projects that launch tokens during periods of weak demand. When Bitcoin fell below $60,000 again in late June, the ratio climbed to 45%. Darkfost sees this as a warning sign: Altcoins remain vulnerable when market liquidity dries up and buyers focus on strong assets.
Oversupply of tokens exacerbates price pressure
The surge in the number of tokens has become one of the key reasons for the weak performance of altcoins. As new assets continue to flood the market, liquidity is spread across more and more tokens, making it difficult for most projects to maintain price support. Darkfost believes that without strong liquidity injections, many of these assets could fail. This view is in line with the reality that investors are becoming more cautious in the current market environment and speculative capital has not poured into small tokens on a large scale.
Analysts pointed out that the current market landscape is different from previous cycles. The acceleration in token creation is particularly obvious-CoinMarketCap data shows that there are currently approximately 53.5 million crypto assets, and approximately 60,000 new tokens are added every day. At the same time, Bitcoin\'s dominance remains at approximately 58.2%, which means that BTC still controls most of the market value.
2026 shanzhai season is delayed
In 2026, the so-called \"shanzhai season\" has not arrived as scheduled. The reason is that the price of Bitcoin is still below historical highs, its market dominance remains high, and ETF funds are basically locked in BTC and have not been rotated into altcoins.
Dominance charts release mixed signals
However, not all analysts see only the weak side. Analyst Mikybull pointed out that the altcoin dominance chart appears quite solid after breaking through the four-year trend line. The breakthrough in the dominance of altcoins could show early signs that funds are shifting away from bitcoin to the wider market. Traders often watch this chart closely to determine whether altcoins are likely to move relatively strongly.
The market heat index is still low
However, a single chart does not confirm the arrival of a comprehensive copycat season. The \"Shanzhai Season Index\", which measures whether the top ten altcoins will outperform Bitcoin in 90 days, will read about 43 in mid-2026. This level indicates a recovery in altcoin performance, but is not enough to confirm that funds have continued to flow out of Bitcoin.
Retail activity is sluggish and the market remains selective
Weak retail activity has also limited demand for altcoins. Interest in \"Bitcoin\" searches has increased during the 2026 sell-off, but this fear-driven search does not prove that small investors are reentering. Currently, the cryptocurrency fear and greed index is about 27, which is in the fear range, indicating that market confidence is still weak, although the situation has eased from previous lows.
Market status: The split between two signals
For now, the altcoin market is showing two opposing signals: Darkfost\'s data shows a large number of coins pinned near historical lows, while Mikybull\'s chart points to a possible breakthrough in dominance. The division suggests that traders do not treat all altcoins equally. Stronger projects may attract selective capital inflows, but weaker tokens still face risks-liquidity is spread across millions of assets, and Bitcoin\'s dominance remains high.
