Bitcoin briefly fell below $100,000 overnight, shaking market confidence and triggering renewed volatility. As traders evaluate next steps, attention is turning to altcoins that may decline if Bitcoin continues downward, given their strong price correlation with BTC.
Bitcoin Cash (BCH)
Bitcoin Cash is highly correlated with Bitcoin, making it particularly vulnerable to BTC’s movements. Its 7-day Pearson correlation with Bitcoin stands at 0.94, indicating almost synchronous price action. Over the past year, BCH maintained a correlation of 0.80, reflecting its consistent alignment with Bitcoin.
Recent price action confirms this connection: BCH has fallen roughly 18.9% over the last month, closely tracking Bitcoin’s 18.1% decline. Large holders—those with 100,000 to 1 million BCH—have reduced positions since November 1, liquidating approximately 50,000 BCH (~$25 million).
Key support levels for BCH include $439, while resistance levels for potential recovery are around $491 and $523, signaling the possible resumption of a bullish trend if Bitcoin stabilizes.
BNB (BNB)
BNB is another altcoin closely tied to Bitcoin. Its 7-day correlation with BTC is 0.97, showing near-identical movements, while the annual correlation is 0.67, still reflecting a strong positive relationship.
Despite recent weakness, BNB has gained 23.5% over the past three months. Indicators such as the Chaikin Money Flow (CMF) show an inflow of funds into large wallets as Bitcoin recovered above $101,600, suggesting renewed buying interest.
Key price levels to watch: support at $859–$817, with bullish confirmation above $1,084 and initial recovery signals above $946.
Litecoin (LTC)
Litecoin also mirrors Bitcoin’s price trends, with a monthly Pearson correlation of 0.92. LTC has demonstrated heightened sensitivity: a 28% drop this month compared to Bitcoin’s 18%, and a 3% decline in the last 24 hours.
Large LTC holders (100,000–1 million LTC) have reduced holdings from 28.51 million to 28.19 million LTC (~$28.8 million), signaling caution. Support levels for LTC are $86, with further declines to $79 or $71 possible if Bitcoin weakens further. On the upside, a move above $96 would invalidate the current bearish setup, with $100 signaling renewed strength.
Altcoins closely correlated with Bitcoin, such as BCH, BNB, and LTC, remain highly sensitive to BTC’s movements. Traders should monitor key support and resistance levels and observe large holders’ activity to gauge potential price trajectories. While a Bitcoin recovery could trigger rebounds across these altcoins, continued BTC weakness may lead to accelerated declines.
