yes there is a possibility that other projects ( token/alts ) can fall when bitcoin's value is falling and infact it did happen several times before .however there were times that btc falls but other projects were still stable and continue to increase on thier own .
in my country, Japan, I think people are leaving blockchain scene believing that there's no future.
In Korea, on the contrast, people are waiting for the listing of the KLAY, the token made by Klaytn.
Which is the real??
you said people on japan are leaving the blockchain scene but your still asking if what is real ? japan is a well develop country and blockchain/cryptos is a perfect fit to thier economy as it adds more invotation so i dont think they would quit . same as with korea but i dont know if what is klay/klaytn your talking about .