While writing the history of Bitcoin, Ethereum has been merely sweeping liquidity for 4 years... and this silence is not a coincidence.
There hasn't been a bull run for 4 years.
The last ATH was only to take the peak of 2021; it exceeded it but couldn't close above (those who knew this didn't buy altcoins, instead they sold, expecting price discovery, the real start of 'bear'...).
At the same time, it took the liquidity from region X and dropped...
In short, Ethereum has prevented the altcoin season for months, those who remember know.
While ETH was suppressing altcoins, $SOL was rallying, benefiting these altcoins; thanks to Solana, we saw rallies in certain altcoins...