Bitcoin is witnessing a remarkable upward movement, reaching new all-time highs, which is significantly influencing the altcoin market. As Bitcoin's value increases, it absorbs a larger portion of the market share, causing a decrease in the influx of capital into other cryptocurrencies.
This dominance by Bitcoin often results in stagnation or even depreciation of prices for alternative cryptocurrencies, as investors focus their attention and resources on Bitcoin rather than diversifying their portfolios.
As a result, the broader cryptocurrency market is experiencing a dynamic shift, where the balance of power is heavily tilted in favor of Bitcoin, raising questions about the future prospects for altcoins in such an environment.
