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
It's not necessarily "backed" by bitcoins. Bitcoin is just a pair of altcoin for trading.
People trade altcoins bother with BTC pair and Altcoin pairs such as USDT, BNB etc...
Most of the times people sell their altcoins in bitcoin pair to get hold of bitcoins during a bull run.
This is the reason why many altcoins dump in price in BTC pair during a bull run.