What everyone is most concerned about is whether ETH, as the leader of altcoins, can drive the entire altcoin market this time. My conclusion is: probably not! Reasons:

1. Price trends reveal the truth: If there was really a big market movement, it should have surged like last time's crash, pulling up several large green candles, but this time it clearly lacks momentum.

2. Trading volume shows the reality: The trading volume during this rise is not even as high as during last time's crash, indicating that not many people are following the trend to go long. Last time, the sell-off involved everyone participating, and trading volume doesn't lie.

3. Historical scripts don’t match: The big market movement on November 5th began with Bitcoin moving first, followed by ETH, and finally, altcoins took off together. Situations like SOL's individual surge can actually siphon off market funds.

4. The followers are underperforming: ETH has returned to its starting point, while Bitcoin and other altcoins (like SOL/ADA) have not yet recovered from their previous drop, indicating that the market has not reached a consensus on an upward trend.

There are many reasons why altcoins have been sluggish. The capital inflow into the market has not yet overflowed into altcoins and is still in the capital allocation stage. Take Dogecoin as an example; in January 2021, Dogecoin began to gain attention due to Musk's public promotion and started to surge. However, before Musk's promotion, Dogecoin's price had not shown significant improvement, indicating that capital needs to be allocated when there is little interest.