Question about trading in/out of fiat vs in/out of BTC

Hello everyone, I hope I'm posting in the right sub for my question. I'm hoping you can clear up a question I have regarding trading, so thanks for your advice!

If I'm trading BTC with alt coins, (LTC/BTC, XMR/BTC, etc), is it possible for the value of BTC to drop enough to where I end up cashing out to fiat with less than what I put in? I don't know if this makes sense so let me illustrate.

I have $100, and trade BTC/USD. I make $10 and cash out back to USD.

Now let's say I have $100 worth of BTC (converted from USD), and make $10 trading a pair like LTC/BTC. I would like to convert it back into USD.

Is it possible for me to end up with less than $110 if BTC drops? Let's say at the time I try to trade BTC back to USD, and I find BTC/USD has dropped with quite a correction. I used to have $100 worth of BTC but now the USD trade value is $90. Is this possible or does the market correct for this between multiple coin/currency pairs?

Does this make sense? I'm thinking I may have a misunderstanding of how this all works, and hoping someone can help me clear it up.

Thank you!

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