The collective movement of cryptocurrencies: Market's immaturity.

A brief look at the graphs on the right side of the snapshot shows a disturbing trend in which, the graph decline of all coins almost overlaps each others. This shows the extent to which all cryptos move up or down together with only a few coins breaking the general trend that too even for a short while.
Let’s take the example of Ethereum Classic. Ethereum Classic shot up by 23% after Binance pair listing and news of future listing at CoinBase. The coin touched $16, but since the market was in the bearish sentiment, ETC’s bullish momentum was cut short and the coin reached $13.5 by 13th June.
This is one of the many examples that highlight the dependency of altcoins on the behaviour of bitcoin. And it is this phenomenon in the cryptocurrency market that pushes institutional investors away and shows how immature the market still is.
The issue here is, even if a coin is meeting its quarterly deadlines, making partnerships and showing actual work done, that coin is bound to decline in value when the Bitcoin’s prices are falling.
This practice reduces the trading to just one basic rule: If the coin market cap is rising, most of the coins will rise with a few of them shooting to double-digit gains and if the coin market cap is declining, literally all the coins fall in value.
No altcoin has been able to break its correlation with BTC and it seems like its a long way before we see the market to mature a
t those levels.
Till then, all the respective technical analysis of coins, the Ichimoku clouds, the RSIs, the SMAs etc mean little when the dependency on bitcoin is too high.