隨著比特幣（BTC）主導地位的下滑，山寨幣季節可能即將到來

過去一個月，比特幣 (BTC) 大幅上漲，交易員預計在年底前將突破 10 萬美元。

Bitcoin (BTC) price action showed signs of slowing down on 26th November, as the world’s largest cryptocurrency posted a 1.4% drop in 24 hours to trade at $94,198. This drop came after BTC rose to highs of $95,400 on 25th November.

11 月 26 日，比特幣 (BTC) 價格走勢出現放緩跡象，全球最大的加密貨幣在 24 小時內下跌 1.4%，交易價格為 94,198 美元。此次下跌是在 11 月 25 日 BTC 升至 95,400 美元高點之後發生的。

However, the recent drop in BTC price was not enough to stop a potential altcoin rally, as the Altcoin Season Index surged to multi-month highs.

然而，近期比特幣價格的下跌不足以阻止潛在的山寨幣反彈，因為山寨幣季節指數飆升至數月高點。

At press time, the altcoin season index surged to 53, marking its highest level since April 2024. A rise in this index shows that altcoins are performing better than Bitcoin. It could also suggest the start of a major rally in the altcoin market.

截至發稿，山寨幣季節指數飆升至 53，創下 2024 年 4 月以來的最高水準。這也可能表明山寨幣市場開始大幅反彈。

However, the beginning of an altcoin season will only be confirmed if this index rises above 75. If it rises to this level, it will confirm that other cryptos are delivering better returns compared to Bitcoin.

然而，只有當該指數升至 75 以上時，才能確認山寨幣季節的開始。

Bitcoin dominance slips

比特幣主導地位下滑

The surge in the altcoin season index has also been accompanied by a slight drop in Bitcoin’s dominance. In just one month, BTC’s market cap dominance has declined from 60% to around 56%, suggesting that altcoins were taking up Bitcoin’s market share.

山寨幣季節指數的飆升也伴隨著比特幣主導地位的略有下降。在短短一個月內，BTC 的市值主導地位已從 60% 下降至 56% 左右，這表明山寨幣正在佔據比特幣的市場份額。

Meanwhile, the ETH/BTC ratio has also bounced from range lows as Ethereum gains interest. Institutions also appear to be favoring Ethereum.

同時，隨著以太坊的興趣增加，ETH/BTC 比率也從區間低點反彈。機構似乎也青睞以太坊。

Data from SoSoValue shows that on 25th November, spot Ethereum exchange-traded funds (ETFs) had positive inflows of $2.8M, while inflows to Bitcoin ETFs came in negative at $438M.

SoSoValue 的數據顯示，11 月 25 日，現貨以太坊交易所交易基金 (ETF) 的資金流入為 280 萬美元，而比特幣 ETF 的資金流入為負，為 4.38 億美元。

However, ETH price is yet to post a strong rebound, given that it traded at $3,273 at press time after a 3.6% drop. But over the past seven days, ETH has gained by around 6%.

然而，鑑於 ETH 價格在下跌 3.6% 後截至發稿時交易價格為 3,273 美元，尚未出現強勁反彈。但過去 7 天，ETH 上漲了 6% 左右。

Cardano & XRP lead altcoin rally

卡爾達諾和瑞波幣引領山寨幣漲勢

While Ethereum is showing signs of strength, the two altcoins currently outperforming the other top-ten largest cryptocurrencies by market capitalization are Ripple’s XRP and Cardano (ADA).

雖然以太坊顯示出強勁的跡象，但目前按市值計算，表現優於其他十大加密貨幣的兩種山寨幣是 Ripple 的 XRP 和 Cardano (ADA)。

ADA has gained 4% in the last seven days, while XRP has gained 7%. These coins were also among the top performers in November.

ADA 在過去 7 天內上漲了 4%，而 XRP 則上漲了 7%。這些硬幣也是 11 月表現最好的硬幣之一。

Top meme coins, including Dogecoin (DOGE) and Shiba Inu (SHIB) had also posted strong gains over the past month before the recent pullback.

包括狗狗幣（DOGE）和柴犬幣（SHIB）在內的熱門模因幣在最近回調之前的過去一個月也出現了強勁上漲。