I want to understand if all altcoins are built upon the foundation of BTC. This is because when there is severe crash of BTC, all other coins, I mean all, also crash.
Is there no independence in the cryptocurrency world?
Thank you!
Most altcoins have no real connection to BTC, except their pairing on exchanges.
When BTC starts dropping, people usually exit alts and try to buy BTC at lower prices, thus causing a cascade effect
I hear what you are saying and kinda agree with you but why do the drop chats of all the ALTs almost the same as that of Bitcoin whether it is in an upward trend or downward trend? If you really take time to look at the chats during Bitcoin down trend and compare it with say, Ethereum, BNB and some other ALTs, it is almost 99% similar so I am thinking that same OPs question, why so much influence on other ALTs by Bitcoin whether positive or negative.