Altcoin spot markets are under heavy pressure, with cumulative net selling reaching negative $209 billion, according to new data from CryptoQuant.
The data shows that altcoins, excluding Bitcoin and Ethereum, have recorded 13 consecutive months of net selling on centralized exchanges. Analysts say this marks the most sell-dominant phase in the past five years.
Back in January 2025, buy and sell pressure across altcoins was roughly balanced. Since then, the gap has widened sharply, with cumulative outflows reaching around -$209 billion. The figures suggest that supply has consistently exceeded demand.
While Bitcoin has also retraced from its October 2025 all-time high, altcoins appear to be facing stronger structural weakness. Market observers say retail demand has faded, and there is little sign of strong institutional accumulation in smaller tokens.
Analysts warn that a negative $209 billion reading does not automatically signal a market bottom. Extended periods of net selling can continue until fresh liquidity enters the market or broader sentiment improves.
Historically, durable reversals only begin after sustained net buying replaces heavy distribution. For now, altcoin spot markets remain under pressure, and a clear recovery in demand has yet to emerge.
