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Because this round of funds mainly comes from US-listed companies and TradFi, it can be said that the bull run is completely supported by institutions. They currently only recognize BTC and Ether, so it is said that $BTC and $ETH, which have ETFs, are experiencing continuous pump, and funds basically won't flow out. Occasionally, a few altcoins surge explosively, also due to market manipulators organizing the situation.
Most users hold primarily altcoins from various sectors, and the losses from altcoins do not offset the gains from BTC and Ether. This is also a major reason why the market appears prosperous now, but the sentiment does not seem particularly high.
As long as Ether is above 4000, you can choose not to wait for a pullback to go long, but don't easily go short. If you're feeling impatient, you can look for altcoins that haven't started yet to play with small amounts for short-term trading.
#ETH