自2023年以來，比特幣（BTC）的優勢一直在穩步上升

目前的BTC市場優勢約為61.6％，低於2月3日記錄的64.3％的當地峰值。

Bitcoin (BTC) dominance, a measure of the flagship cryptocurrency's overall share of the crypto market, has been steadily rising since 2023 amid a torrent of new cryptocurrency coins and tokens.

比特幣（BTC）優勢是旗艦加密貨幣在加密貨幣市場中的總體份額的衡量標準，自2023年以來，在新的加密貨幣硬幣和代幣的洪流中一直在穩步上升。

The current BTC market dominance is roughly 61.6%, down from the local peak of 64.3% recorded on Feb. 3. BTC market dominance broke back above 60% on Feb. 2 amid a general market downturn over fears of a prolonged trade war between the United States and its trading partners.

目前的BTC市場優勢約為61.6％，比2月3日記錄的當地高峰降低了64.3％。BTC市場優勢在2月2日以上的60％以上，因為人們擔心對美國及其貿易零件之間的貿易延長貿易戰爭的一般市場下降。

Macroeconomic uncertainty typically takes a toll on risk-on assets, and the recent market downturn hit altcoins harder than BTC due to their lower liquidity and higher-risk profiles.

宏觀經濟的不確定性通常會損害風險資產的損失，並且由於其流動性較低和較高風險的概況，最近的市場下跌比BTC更嚴重。

Bitcoin market dominance has been rising since 2023. Source: TradingView

比特幣市場的優勢自2023年以來一直在上升。資料來源：TradingView

The current market cycle also features Bitcoin exchange-traded funds (ETFs), which silo liquidity into these financial instruments — preventing capital rotation into altcoins, which crypto traders and investors have become accustomed to.

當前的市場週期還包括比特幣交易所交易基金（ETF），這些基金（ETF）將其流動到這些金融工具中，以防止資本旋轉到AltCoins，加密貨幣商和投資者已經習慣了。

Previous cycles were characterized by investors rotating profits from less risky assets such as BTC into progressively higher-risk investments, beginning with high market cap altcoins and eventually working their way into smaller cap tokens.

先前的周期的特徵是投資者將來自BTC等風險較小的資產的利潤旋轉為逐步的高風險投資，從高市上限山頂船上開始，最終將其發展為較小的帽子代幣。

The liquidity siloed in traditional investment vehicles coupled with the proliferation of new coins and tokens competing for limited investor attention and capital has led some analysts to suggest that altcoin season is now a thing of the past and will not be a feature of the current or future market cycles.

傳統投資工具中孤立的流動性，再加上新硬幣和代幣的擴散，爭奪有限的投資者註意力和資本，導致一些分析師表明，AltCoin季節現在已經成為過去，並且不會成為當前或未來市場週期的特徵。

Related: Bitcoin poised to reclaim $90,000, according to derivatives metrics

相關：根據衍生品指標的說法，比特幣準備收回$ 90,000

Too many tokens have saturated the market

太多的代幣使市場飽和

The total number of cryptocurrency tokens and coins listed on CoinMarketCap on Feb. 8 was below 11 million unique assets, as of March 15 the number of digital assets listed on the website has surged to over 12.7 million.

2月8日，在CoinMarketCap上列出的加密貨幣令牌和硬幣的總數低於1100萬個唯一資產，截至3月15日，該網站上列出的數字資產數量已飆升至1,270萬。