I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again
I do not think that your analysis is correct because the price movement mostly is influenced by the overall market conditions, sentiment and volume and sometimes on the individual performance of the project itself so do not worry much about price fluctuations if you truly support the project.