Over 40% of altcoins are nearing their all-time lows, surpassing the previous bearish cycle's peak of 38%, according to CryptoQuant analyst Darkfost. This downturn follows Bitcoin's significant drop from $126,000 to $67,000 in October 2025, leading to severe corrections in assets like Ethereum, Solana, and XRP, which have fallen by up to 40%. The market is experiencing critical saturation, with over 47 million cryptocurrencies primarily on Solana, Base, and BNB Smart Chain networks, diluting global liquidity. The report highlights that memecoins are among the most affected, with tokens like Shiba Inu and Dogecoin retracing 50%, and emerging projects like Official Trump losing 71% of their value. The fragmentation, particularly on the Solana network with 22 million tokens, hinders efficient capital concentration. Despite the grim outlook, such historic lows often precede institutional accumulation phases, where projects with robust fundamentals may survive the oversupply and geopolitical uncertainties.