Analyst: The resilience shown by altcoins amid increased volatility in BTC may indicate potential decoupling from Bitcoin

ChainCatcher news, according to The Block, major altcoins have outperformed Bitcoin in both weekly and monthly indicators, demonstrating greater stability, even amidst Bitcoin's recent volatility. After Bitcoin reached an all-time high of $103,000, its price has dropped over 5% in the past 24 hours, falling below the $100,000 mark. In contrast, altcoins like Ethereum and Solana have only seen a slight pullback of about 1% during this decline.

Bitwise's Head of Research in Europe, André Dragosch, stated, "Since the beginning of November and the U.S. elections, an increasing number of altcoins have outperformed Bitcoin. The Altcoin Season Index shows that 85% of the altcoins it tracks have outperformed Bitcoin in the past 30 days. Additionally, altcoins seem to be driven by a more diversified investment narrative, with their performances showing an increasingly widening divergence."

André Dragosch pointed out that Bitwise's data indicates that the correlation between Bitcoin and major altcoins is weakening. He explained, "The performance correlation between altcoins and Bitcoin has significantly decreased. A lower correlation means that altcoins now have a greater likelihood of achieving excess returns or outperforming Bitcoin compared to before the U.S. elections."