Altcoins collectively "break defense," who's holding up?

95% of altcoins have fallen below their long-term moving averages, and the scene is quite spectacular. It’s as if the entire altcoin army is simultaneously slipping on stairs.
But from a market structure perspective, this is a typical risk clearing phase. Mainstream funds are flowing back into core assets like BTC and ETH, reducing liquidity in altcoins, which naturally puts pressure on them.
The reason why long-term moving averages are important is because they represent the trend. Falling below indicates a weakening trend. Technical investors will choose to wait and see or even cut losses. As a result, selling pressure further amplifies.
However, history shows that extreme ratios often mean emotions are near freezing point. When most people are desperate, the market is actually brewing a turning point. Of course, the turnaround may not happen immediately, but at least the risk is being released.
Humorous summary: Altcoins are now like a group of students who failed their exams—some retake, some drop out, and some are preparing for a comeback.
The key is to filter, not to deny everything outright.
#95%山寨币跌破长期均线