Why do cryptocurrencies fluctuate together?

The value of cryptocurrency is determined by supply and demand, just like anything else that people want. If demand increases faster than supply, the price goes up. For example, if there’s a drought, the price of grain and produce increases if demand doesn’t change.

Do cryptocurrencies move together?

Generally, the entire market follows Bitcoin’s price trajectory. When it experiences a huge drop, you can bet that other assets will do the same. When it’s on a rally, other coins will be as well.