The month of November (which is usually considered one of the bullish months of the year) showed negative performance, as the price of Bitcoin sharply declined. Amid this chaos, alternative coins are behaving unpredictably.
The well-known analyst Bull Theory pointed out that alternative coins do not collapse with Bitcoin; on the contrary, they show strength in resilience. This rare behavior may be the first indicator that the market is preparing to enter a new phase.
Altcoins refuse to collapse while Bitcoin declines
Analyst Bull Theory highlighted a significant change happening quietly; despite Bitcoin declining by over 24% in November, the relative value of altcoins has increased by about 9.5% compared to Bitcoin.
Typically, when the price of Bitcoin collapses in this manner, altcoins collapse even more, but this time they have maintained their value instead of collapsing. According to the analyst, this usually occurs after a strong wave of seller exhaustion in altcoins, when most holders have already sold, leaving little selling pressure.
Notably, the charts support this view, as altcoins faced heavy selling in October, but have started to rise gradually since early November, even as Bitcoin continues to decline.
Altcoins make up 60% of total trading on Binance
Analysts at CryptoQuant pointed to a significant shift in trading activity on Binance, noting that altcoins now represent about 60% of total trading, the highest level recorded since the beginning of 2025.
In contrast, Bitcoin and Ethereum together account for only about 20%, and this type of trading split often appears during periods when traders become more active and willing to take on more risk.
Bitcoin reaches oversold levels
While altcoins show unexpected strength, Bitcoin reaches its lowest levels in recent years. The daily RSI has dropped to its lowest point in two years, while the weekly RSI has returned to its levels in January 2023.
Additionally, the daily MACD indicator recorded its lowest reading ever, and these signals typically appear when intense selling is about to end, not at the beginning of a new downtrend.
Analysts believe that Bitcoin may be on the verge of reaching a short-term bottom soon, as it is currently trading at around $83,953, recording a 2.5% increase over the past 24 hours.
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