Upon my analysis, the investors and whales do not want to rush with the altcoins bull run , but rather want to study how stable will be for bitcoin.
Your analysis can be correct but seen from the trend it looks like the altcoin will not be bull run easily, surely the price of bitcoin will change again because the price of falling bitcoin prices is just like a reasonable correction done by traders who take profits.
The altcoin is waiting for the right time to get the bull run to happen, and that will happens no matter if it comes in the next months. I hope we will go to see a new thing in the Q3 this year and we could expect the altcoin will have the bull run. But with the down of bitcoin price, that will make some altcoin could increase from the last bottom price but the other altcoin still at the lower price. The chance of the altcoin to increase still wide open and we will see it soon, so you need to prepare your altcoin and place in the price you want.