Altcoin Lows Exceed FTX Collapse Levels, Liquidity Shifts to Equities

According to CryptoQuant analyst Darkfost, nearly 38% of altcoins are trading at or near their all-time lows. This figure surpasses the 37.8% reading recorded after the FTX collapse and even exceeds the 35% level seen in April 2025.

The current environment is described as 'unfavorable' for risk-on assets, with liquidity moving out of altcoins and into equities and commodities.

Darkfost notes that crypto markets are among the first to absorb pressure when investors shift toward defensive positioning. He calls the current drawdown the largest regression recorded during this market cycle.