Bitcoin's dominance in the cryptocurrency market has increased to almost 50% following a recent drop in the altcoin market. The Bitcoin Dominance Index (BTC.D) reached 49.29% on June 13, slightly down from its 14-month high of 49.66% two days earlier. The surge in Bitcoin dominance comes after the US Securities and Exchange Commission (SEC) accused many leading altcoins of being "unregistered securities."

While some analysts predict that Bitcoin's dominance could continue to grow, others suggest that altcoins may rebound and Bitcoin's dominance could decline towards 39% by late 2023 or early 2024.