When Bitcoin rises to a relatively high point, people's interest in trading Bitcoin diminishes, leading to a flow of funds into Ethereum and some mainstream coins. Once these coins reach a relatively high point, funds will flow into other altcoins. Due to their smaller market capitalization, we can see that a portion of fund inflow can bring several times of growth.
Finally, when Bitcoin's market capitalization drops to about half of the peak market capitalization of this bull market, the bull market ends and enters a bear market. After Bitcoin drops by about 70%, the main players start to accumulate at the bottom, waiting for the accumulation to finish before starting to push up, entering a new round of bull market, and the cycle repeats.
