At the time of 17-20, the market makers in the cryptocurrency circle were mainly individuals, mining companies, and other players. Now, things are different. Giant institutions such as BlackRock and Fidelity have entered the market, and the market has directly risen to a new level. Institutions pay attention to risk control, stability, and have a large amount of funds. When buying coins, they only choose super large cap coins such as BTC, ETH, and SOL, in order to both withstand inflation and make money. So the current market pattern may be dominated by institutions leading BTC's long bull market and slow bull market, while the market for altcoins will only appear in a few sectors. Overall, most altcoins cannot rise above BTC. Another important point is that there are too many altcoins now, and there is simply not enough money in the market to rise together, let alone skyrocket tens or hundreds of times.