Whenever the percentage of altcoins outperforming BTC drops to single digits, a major rally is seen.
The altcoin market has reached a critical juncture. After two years of relentless underperformance against Bitcoin, altcoins are now showing a level of historic weakness that has, in the past, been the prelude to a major market reversal.
Data shared by analyst Michael van de Poppe shows that only 8% of altcoins (excluding stablecoins) have outperformed Bitcoin over a rolling 90-day period, the lowest level in the past two years, and one of the weakest since 2019.
“Right now, the #Altcoins are the heaviest underperforming vs. Bitcoin for the past 2 years,” van de Poppe noted, adding that the last bottom formations in June 2022 and June 2023 marked major altcoin rallies.
