Every time the prices of cryptocurrencies stagnate, people are always going to feel like its not going up forever. No wonder the prices dips further more and then panics for the rest of the holders.
I can say things have changed since the 2018 bear market. Even in 2021 the market is not so alive but there are still altcoins that reaches its heights. This 2024 only BTC and a handful of altcoins are rising. Its like everyone is only interested in BTC.
There is always FOMO, unfortunately, many people don't released that this bullish momentum don't last for ever. Some people buy Bitcoin on the resistance price level which is absolutely the act of inexperienced traders/investors on the crypto market.
There are few altcoins that followed the Bitcoin trends in 2024, though some of them are built on the Bitcoin protocol eg Litecoin, Pepe. There are also other tokens that moved along side Bitcoin trends, these tokens might have been driven by demands and other factors like platform upgrades, news etc.