When somebody wants to promote cryptocurrency, the first thing that they will promote might be Bitcoin. Whenever somebody talks about cryptocurrency, Bitcoin is the first thing that comes to their mind. Of course, let's also include the fact that scammers also used Bitcoin to scam people hence, it also increased its popularity in a bad way though.
It is very true. Bitcoin leads cryptocurrency market from noise on media, advertisement to investment and trading capital. It is a first cryptocurrency to be mentioned in any bull run and Bitcoin with its halving, triggers a new market bull run every four years.
Institutional investors have very big capital and if they are interested in this market, firstly it is because of Bitcoin which is a first objective for their research and next Bitcoin will be a first cryptocurrency they will invest money in.
Retail investors, traders and speculators will follow steps of institutional investors because big investment and announcement from institutional investors will drag so much attention of retail investors, traders, speculators to this market.