Bitcoin is trading near $103,600, sliding deeper into red territory after falling more than 10% over the past week. As traders brace for the possibility of a drop below $100,000, attention turns to another mover: altcoins that could benefit from Bitcoin’s selloff.
Most tokens move in the same direction as BTC, but some tokens show negative or minimal correlation, meaning they tend to rise when Bitcoin weakens. Here are three altcoins that could benefit if the selloff deepens this month.
Tezos (XTZ)
Tezos is one of the first altcoins that could benefit from the Bitcoin crash. The smart contract platform, known for its self-upgrading blockchain and on-chain governance, has moved differently than most large tokens this year. While many coins continue to mirror the direction of Bitcoin, Tezos is showing signs of independence.
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Over the past year, the Pearson correlation between Tezos and Bitcoin has been -0.07. This means moving slightly in the opposite direction. The Pearson correlation coefficient measures how two assets move together. +1 means they move in the same direction, -1 means they move in opposite directions. Bitcoin is currently hovering around $103,600 and facing pressure above $100,000, but Tezos’ negative correlation suggests that further declines in Bitcoin could spook traders.
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On the 4-hour chart, whale and smart money activity has turned positive. The Smart Money Index (SMI), which tracks how savvy or institutional traders are taking positions, has started rising, showing renewed confidence. Similarly, Chaikin Money Flow (CMF), an indicator of large inflows into wallets, is still below zero but has curled upwards, suggesting that accumulation may have already begun.
In terms of price action, Tezos is facing the first major resistance level at $0.53. A break above $0.55 would confirm increased momentum, while a break above $0.58 could open the door to $0.60 and above. Conversely, a decline below $0.51 would weaken the setup and invalidate our near-term bullish view.
If Bitcoin falls below $100,000, Tezos’ low correlation history and early accumulation trend make it one of the few altcoins likely to benefit.
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Pi coin (Pi)
Pi Network is another altcoin that could benefit from Bitcoin’s selloff, especially considering Bitcoin’s apparent deviation from the trend. Bitcoin has fallen nearly 10% this week, while Pi has fallen just 1%, showing early signs of possible independence.
Over the past year, Pi Coin has had a Pearson correlation of -0.30 with Bitcoin, a much stronger negative correlation than Tezos. This suggests that Pi Coin often reacts differently to Bitcoin price movements and can rise when BTC falls. If Bitcoin fails to sustain above the critical $100,000 level, a reverse movement pattern in PI could help attract rebound traders.
On the daily chart, PI indicates a constructive technical setup. The Smart Money Index (SMI) remains above the signal line, meaning informed buyers have not yet given up on the rebound theory. This suggests that despite widespread bearish sentiment, smart money still expects a potential upside.
Regarding price levels, Pi Coin needs to recover $0.26 first to confirm new strength. A break above $0.29 could pave the way for further gains. However, if Pi falls below $0.22, there is a risk of testing $0.19, potentially weakening the bullish correlation-based case.
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Given its strong negative association with Bitcoin and early signs of accumulation, Pi Coin remains one of the altcoins that would benefit most if Bitcoin crashes below $100,000.
Zcash (ZEC)
Zcash rounds out the list of altcoins that could benefit from a Bitcoin crash, especially given its rapidly changing correlation with Bitcoin.
According to experts, ZEC has been one of the leaders in the privacy coin space for many years and is often considered a potential Bitcoin replacement. Over the past year, the Pearson correlation coefficient with Bitcoin has averaged +0.28, meaning that Bitcoin has moved almost independently.
However, over the past month, that number has dropped to -0.55, indicating that Zcash is now moving almost completely in the opposite direction to Bitcoin.
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This negative change suggests that Zcash could be the first to benefit if Bitcoin falls below $100,000.
On the price chart, ZEC is showing strong momentum. The token is up nearly 200% over the past month, while Bitcoin is down about 15.8%. Chaikin Money Flow (CMF) is still well above zero at 0.18, indicating steady inflows from whales. CMF is at its highest since October 27th, indicating more large holders are adding to their positions.
Active whale accumulation will be confirmed if the CMF exceeds 0.33, a level last seen on October 1st. It will probably provide another leg support.
From a technical perspective, the Fibonacci extension pattern indicates that Zcash’s next major resistance level is near $594. Above this would mean an increase of about 23% from current levels, which could sustain the rally.
However, this bullish setup will weaken if ZEC falls below $341 or $245. It could also mean that Bitcoin could have avoided another collapse.
For now, Zcash is one of the few altcoins that has a clear negative correlation with Bitcoin. And it’s supported by both strong inflows and a momentum-backed chart.
