Big alts are buying bitcoin and using it as collateral, or wrapping it, or using it as part of their defi shenanigans.
Alts used to exist independently to compete with bitcoin, now they're drag it along with them and screwing bitcoiners.
Alts are the least of your problem, at least they buy some btc.
Your problems are :
1. Government warnings about excessive energy usage.
2. Lack of onchain transaction capacity.
3. Miners are all now ~$12K below the breakeven price of btc.
4. Every altcoin has higher transaction capacity.
5. Microstrategy Margin Call ,
which could cause an even worse selloff that what is currently happening.https://www.wsj.com/articles/microstrategy-stock-falls-23-on-bitcoin-plunge-11655150167The company had said it would face a margin call if the price of bitcoin drops to about $21,000