山寨幣季節已經到來：HBAR、XRP、DOGE 跑贏比特幣 (BTC)

進入 12 月之後，期待已久的山寨幣季節即將到來。根據區塊鏈中心的數據，山寨幣季節指數讀數觸及 82 的 12 個月高點。

After a strong December showing, the altcoin season, which has been eagerly anticipated, has finally arrived.

經過 12 月的強勁表現後，萬眾期待的山寨幣季節終於到來。

The altcoin season index reading reached a 12-month high of 82, according to Blockchain Center data, strongly indicating an “alt season” rather than a Bitcoin [BTC] season.

根據區塊鏈中心的數據，山寨幣季節指數讀數達到 82 的 12 個月高點，強烈表明「山寨幣季節」而不是比特幣 [BTC] 季節。

Top gainers – HBAR, XRP, DOGE

漲幅最大的股票——HBAR、XRP、DOGE

The high reading was a result of substantial pumps on major tokens like Ripple [XRP], Hedera [HBAR], Stellar [XLM], and Dogecoin [DOGE], which outperformed the king coin.

高讀數是由於 Ripple [XRP]、Hedera [HBAR]、Stellar [XLM] 和 Dogecoin [DOGE] 等主要代幣大幅上漲的結果，這些代幣的表現優於王幣。

HBAR has seen over 600% growth in the last 90 days, with XLM and XRP following closely behind at 515% and 402%, respectively. However, Ethereum [ETH] and Binance [BNB] both fell short of BTC.

HBAR 在過去 90 天內成長了 600% 以上，XLM 和 XRP 緊隨其後，分別成長了 515% 和 402%。然而，以太坊 [ETH] 和幣安 [BNB] 均低於 BTC。

The spectacular altcoin surge in November was fueled by a decrease in Bitcoin dominance (BTC.D).

11 月山寨幣的驚人飆升是由於比特幣主導地位（BTC.D）的下降而推動的。

On November 21st, BTC.D reached a peak of 60%, but it has since decreased to 54%, enabling the altcoin sector to flourish as capital flows from the king coin to other sectors.

11 月 21 日，BTC.D 達到 60% 的峰值，但此後已降至 54%，隨著資金從王幣流向其他領域，山寨幣領域得以蓬勃發展。

In fact, if historical trends continue, the altcoin surge could continue. At the time of writing, OTHERS, which tracks the altcoin sector excluding the top 10 tokens, had been gaining ground against BTC over the past four weeks.

事實上，如果歷史趨勢持續下去，山寨幣的飆升可能會持續下去。截至撰寫本文時，追蹤除前 10 名代幣外的山寨幣領域的 OTHERS 在過去四個星期內一直在相對 BTC 取得進展。

The ratio crossed a key 50-day Moving Average (MA) but was still far from overhead resistance, which halted the 2017 and 2021 rallies.

該比率穿越了關鍵的 50 日移動平均線 (MA)，但仍遠離上方阻力位，該阻力位阻止了 2017 年和 2021 年的反彈。

OTHERS/BTC could aim for overhead resistance if history repeats, enabling the sector to rally further, especially if BTC dominance remains minimal.

如果歷史重演，其他/BTC 可能會瞄準上方阻力位，從而使該行業進一步反彈，尤其是在 BTC 的主導地位仍然很小的情況下。

However, Ki Young Ju, the founder of CryptoQuant, warned that with more ETF players and institutions on BTC, the historical capital rotation to altcoins might not occur.

然而，CryptoQuant 創始人 Ki Young Ju 警告稱，隨著越來越多的 ETF 參與者和機構投資 BTC，歷史性的資金轉向山寨幣的情況可能不會發生。

“This alt season won’t be what you anticipated It’ll be odd and difficult Only a select few will succeed in the game. The market mood is upbeat, but there isn’t much new liquidity.”

「這個另類賽季不會是你預期的那樣，這會很奇怪，也很困難，只有少數人會在遊戲中取得成功。市場情緒樂觀，但沒有太多新的流動性。

Having said that, analysts have cautioned about a potential sell-the-news event during Trump’s inauguration in January 2025. If so, it might be critical to adjust risk management before the event to preserve capital.

話雖如此，分析師仍對 2025 年 1 月川普就職期間可能發生的拋售新聞事件發出警告。