There is direct price effect on altcoins. You know, I've traded stocks and S&P 500 affect other markets, so here is the same situation in crypto.
Bitcoin is the main trigger for altcoins
the concentration movement of traders from bitcoin-altcoin is still the biggest even though this year there have been many conversions such as usdt and various exchange coins. But there are still many who believe that bitcoin can still be the best reference.
this of course has an impact on increasing volume holders and if bitcoin experiences a price decline, many traders prefer direct conversion of coins that tend to be stable, but altcoin prices as a whole still follow bitcoin price references under any circumstances.