There are many reasons for this bear market, but the most important is that there are more Bitcoin holders selling for a lower price that those willing to by at a higher price.
I don't see it that way. In fact I see it the way you explain and know forgot : As Bitcoin gets lower and lower, money flows from altcoins to Bitcoin. Check ☑ dominance at 42.5%. It used to be lower
And bitcoin is down 👇 until the market absorbs the 1.7 billion dollar MtGoxxed Whale is dumping into the market