Is ETH at ~$1900 still just riding the Bitcoin wave?

Been watching $ETHUSD closely, currently sitting around the $1902 mark, bouncing within that $1894-$1914 range today. While BTC has had its moments of strong conviction, I can't help but feel that a significant portion of ETH's recent stability and modest upward movement is still largely tethered to Bitcoin's trajectory rather than developing its own robust, independent narrative for a sustained break higher. We talk a lot about the 'flippening' and ETH's fundamental strength, but when it comes to price action, it often feels like BTC is still the primary driver for the broader crypto market, including ETH. I'm wondering if the institutional money flowing in isn't as discerning between the two as we'd like to believe, simply seeing it as 'crypto exposure' rather than a deep dive into Ethereum's ecosystem value. Am I missing something crucial in this assessment? Would be keen to hear where others stand on this.