Great post, really gots the cogs turning for sure.
I feel that people (not saying you) do not fully understand why the price of Bitcoin impacts all other coins or tokens. Every other cryptocurrency has a satoshi value attached to it and is only worth x dollars as the current satoshi value is worth x dollars.
As an example, as I am writing this EOS is valued at $13.35 and 0.00158605 satoshi's.
Bitcoin is currently at $8,417.17 or 1.00000000 satoshi's (1 Bitcoin).
let's break that down
EOS = 0.00158605 ( $13.35)
Bitcoin = 1.00000000 ( $8,417.17)
8417.77 * 0.00158605 = 13.3510041 or 13.35.
So of course if the price of bitcoin drops, the value of 0.00158605 also drops, therefore, the dollar value drops. This then usually starts the panic and traders sell there EOS which further impacts the price.