Altcoins plunged steeply on Feb. 14 after the cost of Bitcoin (BTC) achieved a brand-new all-time high above $49,000. The timing of the altcoin markets drop was notable since it remedied as BTC was rallying, which generally does not happen.So why precisely did altcoins crash?There are two primary reasons that the altcoin market drew back despite the strength of the dominant cryptocurrency.First, when the price of Bitcoin rallied to a new record-high, it drew out the majority of the volume in the cryptocurrency market. This naturally caused the market to sway towards BTC, contributing to the pullback of altcoins.Second, Ether (ETH), which often leads the momentum of the altcoin market, fell greatly versus Bitcoin. BTC/USD vs. ETH/BTC (orange) 1-hour candle chart. Source: TradingviewThe mix of these two aspects, integrated with the uncertainty around Bitcoin at the $50,000 resistance level, has actually enhanced the selling pressure on the altcoin market.A pseudonymous trader called “Kaleo” highlighted that anticipating Bitcoins rally to $50,000 was probably simple. However, whether BTC breaks past $50,000 stays an essential concern that would decide the instructions of the crypto markets near-term rate cycle. He stated:”So this relocation up to simply under $50K was extremely easy to area. The real question is what occurs next. Im favoring short consolidation and breaking out of the range, but Im unsure. How long will it take? Does it get declined? Idk.”If Bitcoin combines first before breaking out of $50,000, in theory, this trend would likely benefit altcoins in the foreseeable future.During a Bitcoin uptrend, altcoins tend to surge when BTC is consolidating after a preliminary impulse rally. However, when BTC is rallying or seeing a slight pullback, altcoins often see large rate drops versus both BTC and the U.S. dollar.Bitcoin is bullish for now, which is helpful for altsFor now, Bitcoin is keeping its bullish market structure, which would alleviate a few of the selling pressure on the altcoin market in the foreseeable future.Scott Melker, a cryptocurrency trader and expert, said that Bitcoin is continuing to see successive bull flags.Bitcoin bull flag. Source: Scott Melker, TradingView.comBull flags are a market structure in technical analysis that materialize when the property breaks out after combining within a range. This usually demonstrates a staircase-like rally that is sustainable over the longer term. Melker said:”Little bull flags all over. Closed above $48,200 after 7 rejections. Consolidation below resistance usually causes a separate.”As long as Bitcoin safeguards the newly developed $48,200 support location and consolidates between $48,200 and $49,700, another breakout is more probable.If Bitcoin sees another breakout, this time, the altcoin market is likely to rally in tandem with Bitcoin after seeing a preliminary dip on BTCs very first impulse rally.

“If Bitcoin combines initially prior to breaking out of $50,000, theoretically, this pattern would likely benefit altcoins in the foreseeable future.During a Bitcoin uptrend, altcoins tend to rise when BTC is combining after a preliminary impulse rally. When BTC is rallying or seeing a small pullback, altcoins frequently see large rate drops versus both BTC and the U.S. dollar.Bitcoin is bullish for now, which is valuable for altsFor now, Bitcoin is maintaining its bullish market structure, which would relieve some of the selling pressure on the altcoin market in the foreseeable future.Scott Melker, a cryptocurrency trader and expert, said that Bitcoin is continuing to see successive bull flags.Bitcoin bull flag.”As long as Bitcoin protects the freshly established $48,200 support location and combines between $48,200 and $49,700, another breakout is more probable.If Bitcoin sees another breakout, this time, the altcoin market is most likely to rally in tandem with Bitcoin after seeing a preliminary dip on BTCs first impulse rally.

By