A lot of people are rushing or bitcoin right now. The market dominance of bitcoin has increased a lot after there will be so many speculations about ETF. A lot of altcoin bag holders are putting bitcoin as the coin that has been getting a big portion on their portfolios. It's not about the market manipulation but the bad news has made it even worst.
I would not expect any smart investor not to pick bitcoin as the priority investment for the long run, considering the nature of the altcoin market.
Presently, altcoin market are more like distractions and they are certainly just good for pump and dump manipulations as you see coins going as high as 800% and then going back to historical support or even lower eventually without any form of sustenance of price. It is that bad, and that shows the level of speculation this market is going through and definitely need to change.