What's strange about this bull run is when a pull back happens, the alts are not rising.  They're also dropping in unison.

In the past runs (I've been around), whenever bitcoin dropped, alts would rise, money stayed in the market.  It seems when bitcoin drops now, money is exiting the market to fiat.

The problem with institutional investment, ie GrayScale or MicroStrategy is that when the price dips below their average buy price, they may be forced to sell by their investors.  Institutional buying is great, but institutional selling at these levels could set off a bear market.

The recent spike to $34k and subsequent drop don't look healthy in terms of technicals.  I know technicals don't mean much with bitcoin, but I compare with bitcoin's own chart patterns historically.  This current drop coincides closely with money flowing to exchanges due to anticipation of upcoming regulations in the next few weeks. 

I predict we're due for another dip below $30k in the next few days, then the final rally of this bull run getting close to $40k (I'll know when this happens because it will coincide with Ethereum also setting an all-time high), followed by a major pull back, which will dip below $20k (within about a month or so).