As of March 2026, 38% of altcoins are trading near their historical lows, surpassing the 37.8% level seen after the FTX collapse, according to analyst Darkfost using CryptoQuant data. This marks the largest drawdown for altcoins in the current cycle, highlighting ongoing market fragility. Darkfost notes that liquidity remains fragile, with capital shifting towards volatile stocks and commodities. He suggests that such extreme market conditions could indicate a potential rebound, advising investors to watch for signs of a market bottom.