One analyst sees a potential turning point forming if the current monthly candle holds a key level.
The altcoin market just set a new record that no one wanted. Crypto assets outside Bitcoin and Ethereum have now closed five consecutive months in the red, a streak that has no precedent in crypto history.
Michaël van de Poppe, CIO and Founder of MN Fund, highlighted this on X, calling it a first for the market.
“For the 5th month in a row, a red candle on #Altcoins. Interestingly enough; this has never happened before. Not once,” he wrote.
He also pointed out that social media interest in crypto has dropped to extremely low levels, reflecting just how far retail enthusiasm has fallen.
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The selling pressure behind this streak is even more alarming. Crypto analyst Ash Crypto shared CryptoQuant data revealing that altcoins have faced nonstop dumping for over a year.
“For 13 consecutive months, alts have been sold non-stop, with net sell volume hitting $209 billion,” Ash Crypto said.
That figure is worse than anything recorded during the 2022 bear market or the FTX collapse. The buy/sell difference for altcoins sat near zero in January 2025. Since then, selling has moved in one direction only.
Despite the brutal data, van de Poppe is not writing altcoins off. His chart marks the current altcoin market cap zone around $714 billion as a “Dip buying” area.
He said that a slight recovery in the current monthly candle over the next few weeks could signal the correction is nearing its end.
“If this monthly candle can climb up slightly more over the course of the next few weeks, the chances of this correction to be over have significantly increased,” van de Poppe added.
The next two weeks will be telling. February’s candle close will either break the five-month losing streak or push the altcoin market deeper into bearish territory.
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