Altcoins Lose $200 Billion as 70% of Binance Tokens Fall Below Key Average

Highlights:

• Altcoins have lost around $200 billion in market value, wiping out much of their recent gains.
• Nearly 70% of altcoins on Binance now trade below their 200-day moving average after October’s rally faded.
• Darkfost points to higher interest rates, political uncertainty, and falling stock markets as reasons behind the decline.

Altcoins have lost around $200 billion in market value as the recent rally comes to an end. The sell-off has pushed nearly 70% of altcoins on Binance below their 200-day moving average. In early October, most of these tokens traded above that level, but prices have since dropped across the market.

CryptoQuant analyst Darkfost shared the figures in a November 7 post on X. He reported that altcoins, excluding Bitcoin and stablecoins, gained around $320 billion in market value between mid-August and late September before losing much of those gains.

🗞️ Altcoins shed $200B as 70% on Binance fall below the 200-dma

The euphoria surrounding altcoins was short-lived. Between mid-August and the end of September, their market capitalization, excluding Bitcoin and stablecoins, rose by $320 billion.

The subsequent correction has… pic.twitter.com/2yOgY82ZCA

— Darkfost (@Darkfost_Coc) November 7, 2026

Altcoins Give Back Nearly Two-Thirds of Recent Gains

Altcoins added around $320 billion to their market value between mid-August and late September as prices rose across the market. The recovery continued into early October, but it soon lost momentum. Since then, altcoins have shed nearly $200 billion, losing almost two-thirds of their earlier gains. Darkfost’s Binance data shows that the sell-off has hit a large share of altcoins rather than just a few major tokens.

The $200 billion figure shows how much their combined market value has fallen, not how much money investors have withdrawn from exchanges.

Seven in Ten Binance Altcoins Now Trade Below a Key Average

The change is especially clear in the share of Binance-listed altcoins trading below their 200-day moving average. The indicator uses an asset’s average price over roughly 200 days to help traders see its longer-term direction. In mid-August, around 82% of altcoins on Binance were below the indicator. By early October, that figure had dropped to just 10%. Almost 90% had moved above their longer-term average during the recovery.

Now about seven in ten altcoins sit below the same benchmark. That is close to the weak reading seen before the rally, although the share has not returned to August’s 82%. Trading below a moving average does not guarantee further price declines. Still, the number of tokens below that level gives a broader picture than looking at the price of one cryptocurrency alone. It also helps distinguish a market-wide slump from weakness in just a few tokens.

Interest Rates and Stock Market Losses Add Pressure

The analyst linked the reversal to a tougher economic and political backdrop. The US Federal Reserve and European Central Bank raised interest rates in September. Both held rates steady at their October meetings, while the Bank of England raised its benchmark rate to 4% on November 5. Higher borrowing costs can reduce demand for riskier investments, including cryptocurrencies. Geopolitical and trade tensions have also added uncertainty.

Meanwhile, Democrats won control of both chambers of Congress in the November 3 US midterm elections. US technology stocks have come under heavy selling pressure. Darkfost cited a 14% decline in the Nasdaq from its recent peak, compared with around 6% for the S&P 500.

Altcoins have weakened alongside that broader sell-off. Meanwhile, Bitcoin is also facing weaker demand. According to a November 7 Crypto2Community report, Bitcoin’s apparent demand fell to −251,000 BTC, nearing its June low. Spot Bitcoin ETFs also recorded net outflows of 5,759 BTC, worth around $446 million, during the week ending November 6.

⚠️ Demand failed to materialize this week and instead deteriorated further.

Spot Bitcoin ETFs recorded net outflows of 5,759 BTC, equivalent to approximately $446 million.

Apparent demand has now fallen below August’s level and currently stands at −251,000 BTC. It is… pic.twitter.com/SCrqwzLjki

— Darkfost (@Darkfost_Coc) November 7, 2026