3 Altcoins That Can Benefit If Bitcoin Crashes Below $100,000
Tezos (XTZ), Pi Coin (PI), and Zcash (ZEC) are identified as altcoins potentially benefiting from a Bitcoin drop below $100,000 due to their negative correlation.Summary
As Bitcoin trades near $103,600 and faces potential pressure below $100,000, attention turns to altcoins exhibiting negative correlation or independence from BTC's movements. The article highlights three such cryptocurrencies: Tezos (XTZ), which has a slight negative Pearson correlation (-0.07 over the past year) and shows early signs of smart money accumulation; Pi Coin (PI), demonstrating a stronger negative correlation (-0.30) and divergence from BTC's recent 10% drop; and Zcash (ZEC), which has recently shifted to a strong negative correlation (-0.55 over the last month) despite a positive yearly correlation, supported by strong momentum and whale inflows.
For Tezos, positive activity in the Smart Money Index (SMI) and an upward trend in Chaikin Money Flow (CMF) suggest accumulation, with key resistance at $0.53.
Pi Coin shows its SMI remaining above the signal line, indicating sustained buyer interest, with a crucial reclaim level at $0.26.
Zcash, which has rallied nearly 200% in the past month while BTC fell, shows CMF well above zero, suggesting aggressive accumulation, with a key technical resistance target near $594.
(Source：BeInCrypto)