Looks like volume is drying up, and it failed to break the local high at 121k. Coupled with bitcoin currently plummeting IMO we are headed for a slight correction
Nothing is going to take off while BTC is still not performing. It's going to take some time for the market to recover. It was a nice bump though, just a shame it'll be absorbed by a falling BTC.
I see all my investments as long-term, so I'm not at all bothered by the prices right now.
It can go high even without BTC's value.
But yes, BTC growth increases motivation for all people to invest in.
Now with the market down, many people lost their interest in crypto (specially those who invested late), and are now just looking for a way out.
In "normal" times, people first invest in BTC/ETH and then they do some research into other coins, who grow when they redistribute their holdings