Market analyst Darkfost, citing CryptoQuant data, reports that current market risk appetite remains weak, with liquidity favoring stocks and commodities over cryptocurrencies. Approximately 38% of altcoins are nearing their all-time lows, marking one of the most pressured phases for altcoins in this cycle. This is compared to 35% in April 2025 and 37.8% following the FTX collapse. Darkfost suggests this indicates a continued decline in investor interest in altcoins, though it may also signal emerging opportunities during this extreme pressure phase.