I think for BTC it doesn't really matter too much, but for alts we might not see the kind of returns everyone's expecting.
It would not matter for Bitcoin because regardless of the retail investors not having interest to invest as they did in 2021, the institutional investors are still going to pump the market to get high price as they can because they want to make profits from their investments and when Bitcoin is going up is the only way they can get the profits. They might not care too much about altcoins because alot of them are not focus on investing in altcoins but Bitcoin. Some exchanges are trying to push altcoins to the faces of institutional investors because they are listing as many of them but still they are not getting the attention. Only memecoins had a very bullish period but it did not last. Until Bitcoin has reduced in market dominance, there is no need to invest in any altcoins yet but to keep waiting.