Bitcoin and ethereum have nothing to do with the popularity of NFT. AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.
I suppose it's only relevant for AXS or some other big NFT project with larger audience for the smalles one Bitcoin market was really affecting it beside some development, Even though there are some rally on BTC some weeks before AXS seems doing some good performance without affected by the market.