pretty much the same thing that happened all the previous time when bitcoin had a big rise. in the beginning altcoins will get dumped hard as the traders that are already in the market would cash out to go back to bitcoin market. as the price grows and the hype grows a lot of newbies come in and the scammers seeing this would start creating a lot of new coins which they will sell to these newbies and pump them to the moon thousands of percentage.
then as bitcoin bubble bursts 80% of these coins disappear just like 2018 and the remaining 20% continue dumping.
then as bitcoin reaches the bottom and reverses like 2019 the altcoins continue duping as bitcoin rises back up.

this cycle has been repeating for more than 10 years now.