Bitcoin's market dominance is increasing, not due to its own strength, but rather reflecting the weakness of altcoins and concentrated capital, according to XWIN Research Japan. Approximately 75% to 80% of the top 50 altcoins have declined, with their total market capitalization falling about 20% from its peak. Additionally, trading volumes on centralized exchanges have dropped by around 40%. The continued inflow into spot Bitcoin ETFs further strengthens Bitcoin's dominant position.