They are dropping cause bitcoin is dropping. And bitcoin was dropping cause MT GOX trustee was dumping the coins in large amounts in open markets instead of OTC. And the reason altcoins were dropping is cause they are still tied to the price of Bitcoins and a drop in bitcoin price leads to drop in alts.
Yes all of alternative coins followed bitcoin's price, due to bitcoin is first cryptocurrencies in the world, so the alternative coins will follow bitcoin's price, bitcoin is the leader of cryptocurrencies in the world, if the king is falling all of the followers will be falling. It is the most reasonable answer about the alternative coins price went down trend now.