Analysts believe the worst is yet to come for Altcoins as Bitcoin's strength expands

The global crypto market has not been able to capture the total dynamics that Bitcoin has experienced in recent times. The avalanche of funds for Bitcoin suggests that investors are interested in exposing themselves to the upside potential offered by their growing status as "hard assets".

The manifest strength of the benchmark cryptocurrency is due to the fact that it shows immense signs of optimism in a dark global context.

Its popularity with mainstream investors has also increased considerably, as prominent Wall Street investors such as Paul Tudor Jones have offered optimistic outlook on BTC.

All of this sparked their dominance in the global market, with many alternative currencies posting unfortunate performances compared to their BTC trading counterparts.

This led an analyst to note that an episode of surrender could be imminent for these smaller digital assets.

Bitcoin Gains Greater Dominance In Crypto Market

Bitcoin's dominance in the crypto market has increased since the uptrend of the early 2020s started to stagnate in mid-February.

At this point, BTC's market dominance was around 60%, with the turmoil in the following months leading to annual highs of 68% last week.

This suggests that investors are fleeing from significantly riskier assets in favor of the benchmark cryptocurrency. His global media attention stemming from comments by Paul Tudor Jones and others may also play a role in this trend.

Today, almost all of the top 20 alternative currencies by market capitalization are traded against their BTC trading counterparts.

Market data via CoinMarketCap

A similar trend has been observed in the past two weeks, as its recent push towards $ 10,000 has likely been fueled by investors embezzling alternative currency funds.

Altcoins could soon capitulate, paving the way for the next "Altseason"

The long-awaited "high season" has caused great disappointment among investors, as many smaller cryptocurrencies are trading at multi-year lows against Bitcoin.

A pseudonymous crypto trader talked about it on a recent tweet, explaining that he thinks that many altcoins will soon see capitulation.

He also notes that this could offer investors "huge opportunities".

"ETH headed for levels not seen since 2016. LTC trade is lower than prices for 2014-2016. XRP headed for levels in 2014, 2016 and 2017 "It seems that the alternative market may capitulate soon. It looks like the worst is yet to come, but then that should offer great opportunities," he said.

Another merchant echoes that feelingNoting that he believes Bitcoin continues to push higher, as the decline of alternative currencies could provide the perfect conditions for the "high season".

"I hope that BTC will continue to grow while ALTS capitulates in the coming months, as these would be the perfect conditions for the high season."