Same experience with cold applications, despite similarly “prestigious” CV. Did the same thing two years ago and had about 80% hit rate, this time it was close

Same experience with cold applications, despite similarly “prestigious” CV. Did the same thing two years ago and had about 80% hit rate, this time it was close to 0%. My only hits have been through network and responding to recruiters on LinkedIn. I think part of it is that I was applying to a lot of larger companies with efficient hiring pipelines, none of which are currently hiring.