Ethereum haven't really moved in a long time compared to the BTC increase. What can be the reasons for this? Are people not as enthusiastic about Ethereum as they were, or is because of new scalable projects on the Bitcoin blockchain?
I can probably say that your observation is on point.
Clearly even if we say we also love ethereum, everyone will still agree that they will choose bitcoin over ethereum over and over again. Simply because bitcoins are more reputable because of its age. That is why people will always choose bitcoins(not to mention the price of bitcoin).