Altcoins Break Pattern During Bitcoin’s November Slide

Bitcoin plunged over 24% with RSI and MACD hitting multi-year lows, showing a deeply oversold market phase.

Alt/BTC ratio climbed nearly 9.5%, showing strong altcoin resilience despite Bitcoin’s sharp decline.

Divergence suggests traders rotated liquidity into higher-beta altcoins as leverage unwound across markets.

Analyst Bull Theory reported an unusual pattern during Bitcoin’s steep global price slide. Bitcoin fell sharply across major exchanges while altcoins held strength. The divergence appeared as heavy selling drained liquidity and changed trading behavior across digital asset pairs under intense pressure.

Bitcoin Drop Exposes Extreme Technical Readings

Bull Theory reported Bitcoin plunged 24.15% during November after weeks of near-vertical decline. Price dropped from near $110,000 to approximately $83,966 during the slide. Notably, red candles dominated, showing sustained downward control and repeated lower lows.

However, technical indicators reached rare levels during the same period. Daily RSI touched its lowest point in two years. Weekly RSI returned to levels last seen in January 2023. Meanwhile, Daily MACD printed its deepest reading on record this month.

Source: Bull Theory on X

These technical levels appeared as Bitcoin approached the $84,000 to $86,000 support range. Additionally, the decline unfolded without visible reversal patterns forming. Consequently, the data reflected a deeply oversold market phase based strictly on indicator measurements.

ALT/BTC Ratio Defies Bitcoin Weakness

While Bitcoin slid, the OTHERSBTC ratio moved sharply higher, according to Bull Theory. The ratio gained 9.44% in November, climbing from 0.1130 to near 0.1277. Notably, several strong green candles confirmed consistent upside movement during Bitcoin’s downturn.

However, recent candles showed mild cooling near 0.122988. Despite that pause, the structure maintained higher highs and higher lows throughout the period. This behavior marked a clear divergence between Bitcoin price action and altcoin performance relative to BTC pairs.

October data revealed heavy altcoin selling before the price structure stabilized. Subsequently, the ratio began a slow and steady upward grind despite ongoing Bitcoin weakness.

Indicators Align With Rotation Patterns

Bull Theory noted this divergence rarely appears during active Bitcoin crashes. According to the analyst, ALT/BTC strength alongside a falling Bitcoin price reflects internal liquidity shifts. Traders reportedly rotated into higher-beta assets while leverage cleared across markets.

Dominance data also showed pressure as dominance struggled to rise during Bitcoin’s fall. Additionally, seller exhaustion appeared across altcoin pairs following October’s washout activity. These developments occurred during Bitcoin’s continued correction phase.

The chart setup showed Bitcoin hovering near support while the altcoin ratio strengthened steadily. Recorded data showed a synchronized pattern between oversold Bitcoin conditions and relative altcoin resilience.

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