It may be in the next days ethereum will be passed $500 rate. In my opinion if it's quite difficult for ethereum to break another resistance on $500 and $600 consider there's a problem with the ethereum 2.0 and the news about infura was getting down has been creating a lot of FUD for ethereum.
We will see what will be happening but im sure $500 can be achieved easily. it's very interesting to see bitcoin gets another pump again.
if bitcoin pumps up again. this is bad for Ethereum,
definitely bitcoin dominance will also be higher and Ethereum will find it difficult to get to $ 500,
in fact I assume there will be a dump that occurs in ethereum to the point of support.
If you are talking about a short term yes that could be bad for Ethereum for a short period of time . But why wouldn't you go long time for it ? Surely after a bitcoin pump most of money will split into altcoins and we will see a decent pump on other coins