Ether follows Bitcoin because the Decentralized World follows the market rules and the wBTC in their stability of financing models. We all know this is for Ether and the outlook to Ethereum 2.0 in a new Definancial Area the best advertisement when Bitcoin moves ahead but doesn't make this a winner. If you compare all charts of Altcoins and Bitcoins the so called "Altcoin"-Season is only created to make more money. As you know mothers day was initiated by the flower stores to gain revenue altcoins just created for that reason in a digital world. So remember three phases: 1) Bitcoin moves on - everyone sells Altcoins to jump onto the Bitcoin train. Altcoins lose value 2) Investors in big style diversificate and buy both - Bitcoin and Altcoins acculumate and grow both 3) Bitcoin fell down - People sell Bitcoin and jump into Altocins - Altcoins grow - and this is called Altcoin Season. But you see first Bitcoin has to do something and thats because Altcoins have no Utility. DeFi would change that for ETH but the road is full of traps, because the DeFi market is a product of old economy and depends on traditional stock markets in a digital way by a lending system for cryptos - in easier terms: creating debts ! CRYPTO MARKETS
Bitcoin rose to its highest price in a month after weeks of stagnancy, but ether stole the headlinesthis week, soaring more than 20% as the boom in DeFi applications began to pay dividends. After two years of disappointment relative to bitcoin since its early 2018 crash, ether may have found its next killer app.
Bitcoin’s gains were more modest after the European Union agreed to a coronavirus stimulus package early in the week, though its price has still plateaued below $10,000. But Binance CEO Changpeng Zhao told Bloomberg he worries bitcoin is still tied to the stock market and is vulnerable to another crash.
Don't think it is bind to the stock market. See the stock market during Corona and the stability of Bitcoin, during Maker DAO and DAI stable coin ran out of support and money causing a class action lawsuit. Read the full story here