the price of all coins dropped because the price of bitcoin was down. all altcoins are based on bitcoin. if bitcoin goes down, all altcoins will go down.
In my opinion, coin prices are currently based on ETH prices, as current ETH prices are falling, and that is the common currency used to buy altcoin.
No, basically the price of ethereum doesn't give a huge impact to the price of altcoin but it seems like there was a party that has been controlling the hype and you can see that how it has become a very bad thing.
So far ethereum still follows the bitcoin and then the altcoin just try to follow that at the same time.