That is what happens every time when we see the price in the bitcoin price, but to me, the effect is not completely reflected over every cycle. In the previous cycle if Bitcoin jumps 30% then most altcoins will surge 30% in average but now its not even 10% but random coins jumps 100% in 24 hours and in the next few days it will bleeds out which means the altcoins are only used by bump and dump investors and not for any real use cases.