Bitcoin dominance has reached a multi-year high, according to The Block's data dashboard. The digital asset's market share has risen to 51.5% of the entire cryptocurrency sector, the highest level since April 2021.

Bitcoin has posted more than two weeks of continuous rally, making gains of over 18% in the past week alone. It was changing hands for $33,909 at 1:30 p.m. ET, according to CoinGecko.

Altcoins are underperforming bitcoin

In comparison, ether's weekly performance lags behind BTC, with a 13% increase in the past seven days. BNB has fared even worse, with the token registering only a 4.8% increase in the past week.

The latest surge in the bitcoin's dominance can be attributed to a year-long rally, with the cryptocurrency's price increasing by around 100% since the start of …