As a rule the coins move as a group, so when bitcoin drops so do the rest (as an average) its sort of a sector leader. Much like when gold drops in price, so does silver, platinum, palladium and copper.
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I think Steem should have a few more coin pairings in addition to BTC/STEEM and STEEM/SBD
Wish there was a STEEM/ETH pairing on Bittrex