So I am a newbie and I always had this question in my mind why all altcoins are backed with BTC because at times like these altcoins are the most affected one there are some really great altcoins out there but due to this correction we can see a massive drop in those coins and I don't think it is fair to other coins that because of only one single coin they also see a massive drop.
I am saying again I am just a newbie who is trying to understand these market.
Thank you
Bitcoin is still the indicator for the whole crypto market. So even today it is still the case that if bitcoin starts to drop than almost all other coins are dropping too. The reason for that is that bitcoin is around the longest and a lot of people that are not really into crypto or do only know a little about cryptos in general don't really know about any other coins except bitcoin and maybe ethereum. Also most other projects have a BTC/altcoin trading pair which means the prices of that trades automatically go down to if the rates are not adjusted by the users which rarely happens.