Bitcoin dominance in the crypto market almost 51% right now. If bitcoin price will go to the moon again then this dominance percentage may increase! But we have many options in altcoins, and many altcoins are better than bitcoin in several ways! Do you think, in future, Altcoins will dominate the crypto market? Or will it be a strong competitor to bitcoin?
There are mostly 2 main reasons of High Bitcoin Dominance in Market:
1. People believe more in bitcoin rather then any ALTCoins
2. Bitcoin being the major trading pair for buying ALTCoins, people buy bitcoins so that they can trade BTC satoshis into Altcoins
A higher bitcoin dominance is at many times a very good sign of Altseason too. As a majority holding of Bitcoin shows investors are ready with the funds to buy ALTs.
Bitcoin prices mooning will not necessarily mean to have a higher dominance, for example, during Bitcoin's ATH time, (Dec 2017-Jan 2018), BTC dominance was around 40% only.