How can a new bullrun sustain in 2024??

I know that BTC has the backing of blackrock and institutions and 15yrs of sustained uptime and trust.

But the bull run of 2021 was a perfect storm. People were told to stay home. DEMAND GOT PENT UP. Then helicopter money rained for 2 yrs straight. Rent didn't have to be paid. Mortgages went into forbearance Student loans paused. Once in a lifetime type stuff

Retail pumped up dogecoin and every other alt you can think of. Life was good.

Outside of BTC…how can a true bullrun be sustained if cost of living is high and layoffs are ramping up??

I just dont see it. Unless theres some alts out there woth actual use case. (Which 99% have none)

What do you think?