I have realized that whenever the value of bitcoin drops in the cypto market almost all the altcoins' values also drop. Bitcoin is and has been the father of all cryptocurrencies but i still do not get the relationship and the rationale for the effects of bitcoin value on altcoins.
I think most of the altcoins are traded against Bitcoin but not all of them. If the price of bitcoin rises then people will start selling their altcoins to buy bitcoin because they are afraid that this can reduce the price of altcoins. They sell altcoins in panic that the market may experience congestion so long that time altcoin can fall even more. but not everyone thinks that way.