Yes 100%, because a lot of coins are traded against the value of Bitcoin itself, so if Bitcoin drops so do the altcoins!
Its being observed that most of the altcoins price does change as per the btc price movement. As the btc price increases so does the other altcoins keep up and vie versa. This I feel happen due to other coins were born after the bitcoin or due to bitcoin it resulted in other altcoin so invariably other coins is depended sort of on bitcoin price.