Which Altcoins Could Crash if Bitcoin Closes Below $100,000?

Bitcoin briefly dipped below the $100,000 mark, causing a wave of uncertainty in the market and igniting fresh volatility. As traders work to evaluate their next steps, attention is turning towards altcoins that could face steep declines, given their strong price correlation with Bitcoin. With Bitcoin’s dominance climbing, several tokens that closely track Bitcoin’s price movements are showing early signs of weakness.

Bitcoin Cash (BCH) is one of the altcoins most likely to decline if Bitcoin's price drops further, due to its strong price correlation with BTC. - 7-day correlation coefficient: 0.94, indicating BCH moves almost in tandem with Bitcoin. - 1-year correlation coefficient: 0.80, highlighting a consistently high connection. Recently, both Bitcoin Cash and Bitcoin have seen similar declines, with BCH down 18.9% this month, compared to Bitcoin's 18.1% drop. Furthermore, large BCH holders (whales) have reduced their positions since November 1, cutting holdings by approximately 50,000 BCH, worth around $25 million as per Santiment data. On the price chart, BCH is trading near $484, and key support lies at $439. Any further breakdown in Bitcoin could pull BCH lower, though a recovery setup could materialize if Bitcoin rebounds above its resistance levels.

The BNB token also exhibits strong price correlation with Bitcoin, with a 7-day correlation coefficient of 0.97 and a 1-year coefficient of 0.67. Despite a recent 4% drop in 24 hours for both BTC and BNB, BNB has proven to be a strong performer during this cycle, up 23.5% in the past three months. Signs of recovery are visible in Chaikin Money Flow (CMF) trends post-October 22, indicating renewed buying interest as Bitcoin stabilized above $101,600. The RSI (Relative Strength Index) has also suggested a hidden bullish divergence, signaling a potential price uptrend beneath recent corrections. Key levels for BNB: - Critical support: $946. - Bullish confirmation: Daily close above $1,084. If Bitcoin weakens further, BNB could face pressure towards supports at $859 and $817.

Litecoin (LTC) ranks among the altcoins most susceptible to Bitcoin's volatility. Its monthly Pearson correlation coefficient with BTC is 0.92, showing tight synchronization over the short and medium term. - Recent Performance: Bitcoin fell 18% this month, while Litecoin performed worse, dropping 28%. - Large Holders' Action: Large LTC addresses reduced their holdings by 0.32 million coins since October 29, equating to $28.8 million. On the price chart, LTC faces a keenly watched support level at $86. A break below this could see losses extending to $79 or even $71. However, as with BCH and BNB, Litecoin's high correlation with Bitcoin means any rebound in BTC could lift LTC. Key Levels for LTC: - Bullish scenario: A move above $96 confirms recovery. - Bearish scenario: Drops below $86, with next supports at $79 and $71.

As Bitcoin dominance rises above 60%, altcoins like Bitcoin Cash (BCH), BNB, and Litecoin (LTC) face heightened risks due to their strong price correlation with BTC. Recent whale actions, technical indicators, and chart analyses indicate potential further downside if Bitcoin weakens below key levels. However, the reverse correlation effect offers a glimmer of hope: if Bitcoin stabilizes or rebounds, these altcoins are likely to recover and could potentially invalidate their bearish setups. Staying informed and vigilant will be key for traders navigating this volatile market.