比特幣優勢（BTC.D）及其在加密貨幣市場週期中的作用

比特幣優勢（BTC.D）在理解加密貨幣市場週期中起著至關重要的作用。它指的是比特幣的市值，佔加密市值總數的百分比。

Bitcoin dominance, represented by BTC.D, is a critical metric that provides insight into the cryptocurrency market cycle. It measures Bitcoin’s market capitalization as a percentage of the total crypto market cap.

由BTC.D代表的比特幣優勢是一個關鍵指標，可洞悉加密貨幣市場週期。它衡量比特幣的市值是加密市值總數的百分比。

When BTC dominance is high, indicating that Bitcoin is absorbing a large portion of the liquidity, altcoins often find it difficult to gain momentum. However, based on past trends, once BTC dominance peaks, an altcoin season usually follows.

當BTC優勢較高時，表明比特幣吸收了很大一部分流動性時，AltCoins通常會發現很難獲得動量。但是，基於過去的趨勢，一旦BTC優勢達到峰值，通常會隨後一個山寨幣季節。

In every bull market, Bitcoin tends to lead the rally as the first cryptocurrency to attract both institutional and retail investment. Being the most established and widely recognized digital asset, investors view Bitcoin as a safer entry point before exploring riskier altcoins.

在每個牛市中，比特幣傾向於將集會作為吸引機構和零售投資的第一個加密貨幣。作為最成熟，最廣泛認可的數字資產，投資者將比特幣視為探索風險較高的山寨幣之前的更安全的入口點。

As a result, Bitcoin dominance tends to rise during the early and mid-phase of the bull cycle, as observed in past market cycles like 2017 and 2021.

結果，在過去的2017年和2021年（如過去的市場週期）中，比特幣的優勢傾向於在公牛週期的早期和中期上升。

However, Bitcoin’s dominance does not remain high indefinitely. Once Bitcoin reaches new highs and stabilizes, investors typically begin to take profits and reallocate funds into altcoins in search of higher returns.

但是，比特幣的主導地位並不能無限期保持高。一旦比特幣達到新的高點並穩定下來，投資者通常會開始將利潤付出，並將資金重新分配給Altcoins，以尋求更高的回報。

At this point, BTC dominance usually starts to decline, marking a shift in market dynamics and paving the way for altcoins to gain traction.

在這一點上，BTC的優勢通常開始下降，這標誌著市場動態的轉變，並為Altcoins獲得吸引力鋪平了道路。

If Bitcoin dominance reaches 71%, it could indicate that Bitcoin is close to peak dominance in the current cycle. This level suggests that Bitcoin has absorbed the majority of available capital in the market, leaving altcoins undervalued.

如果比特幣優勢達到71％，則可以表明比特幣在當前週期接近峰值優勢。該水平表明，比特幣吸收了市場上可用資本的大部分，而山寨幣則被低估了。

At this stage, traders and institutions may begin rotating capital from Bitcoin into Ethereum, Layer 1 blockchains, DeFi projects, and other altcoins.

在此階段，貿易商和機構可能會開始將資本從比特幣旋轉到以太坊，第1層區塊鏈，DEFI項目和其他Altcoins。

Historically, this transition has led to an altcoin season, where altcoins significantly outperformed Bitcoin in percentage gains. The moment BTC dominance starts to decline from its peak, the broader crypto market experiences a surge in altcoin demand, driven by speculation and profit-seeking behavior.

從歷史上看，這種過渡導致了山寨幣季節，在該季節中，Altcoins在百分比增長方面的表現大大優於比特幣。 BTC的優勢從其頂峰開始下降的那一刻，更廣泛的加密市場經歷了山寨幣需求的激增，這是由投機和尋求利潤的行為驅動的。

Bitcoin’s maturity in the market cycle is a key indicator of an upcoming altcoin season. If BTC dominance reaches 71% and begins declining, history suggests that altcoins could soon experience a major rally.

比特幣在市場週期中的成熟度是即將到來的Altcoin季節的關鍵指標。如果BTC的優勢達到71％並開始下降，歷史表明，Altcoins很快可能會發生重大集會。

Investors should closely monitor BTC dominance as it acts as a leading signal for when capital rotation into altcoins might begin. As Bitcoin stabilizes, altcoins often deliver higher risk-adjusted returns, making this phase one of the most exciting periods in the crypto market.

投資者應密切監視BTC的優勢，因為它可以作為何時開始向山寨幣旋轉的主要信號。隨著比特幣的穩定，AltCoins通常會帶來更高的風險調整回報，這使該階段成為加密貨幣市場上最激動人心的時期之一。

Understanding this shift can help investors make informed decisions and capitalize on emerging opportunities in the altcoin space.

了解這一轉變可以幫助投資者做出明智的決定並利用Altcoin領域的新興機會。