Bitcoin has been the dominant cryptocurrency for long now, I think that could change in the future. For the market to grow large and compete with global market, its becoming clear that other cryptocurrencies might rise to compete with the Bitcoin's marketcap. Top players from the traditional market need to get involved in cryptocurrency and issue decentralized products, the space need a lot of attention at this time. Such close competition could be setting the stage for a multi trillion crypto market.
There was a moment in the past when Bitcoin's market share was 37.8% and Ethereum's share was 31.1%. Now Bitcoin stabilized at 60-65% dominance, major altcoins struggle to keep up with its price gains and lesser shitcoins are disappearing. With this trend, alts have no chance to dethrone Bitcoin. Some major fundamental breakthrough would be needed, but how can you be sure that Bitcoin won't be the coin to have it?
As for traditional market players, they are into crypto purely speculatively. Even if we are getting more insitutional investors, we are not getting any payment method adoption from larger companies.
I remember those times, many people back then were talking about how ethereum and bitcoin will switch positions for good and ethereum will leave bitcoin behind and never look back, and we know what happened, no altcoin can threaten bitcoin at the moment simply because it does not make sense, most coins are copies of bitcoin with just a few cosmetic changes, they are still using the core technology of bitcoin for themselves and as long as an altcoin that is completely innovative does not come forward the chances of altcoins surpassing bitcoin are zero.