Why All Cryptocurrency are Pump Now ?

I’m trying to understand why almost all cryptocurrencies seem to be pumping together right now. Bitcoin, Ethereum, and even many altcoins are moving up simultaneously, which makes me curious about the real reasons behind this kind of market behavior. Is this mainly driven by Bitcoin dominance, or is there some broader macro factor involved like global liquidity, interest rate expectations, or institutional money entering the market?
I also wonder how much of this pump is based on actual fundamentals versus hype, FOMO, and leverage in the derivatives market. When the entire market moves together, it feels less like individual projects performing well and more like a wave of sentiment pushing everything up.
Another question is whether this kind of pump is sustainable or just a temporary cycle that could reverse quickly. Historically, we’ve seen sharp pumps followed by heavy corrections. I’d really like to hear different perspectives—especially from people who’ve been through multiple market cycles. What signals do you personally watch to decide whether a pump is healthy or risky?