比特幣的主導地位接近頂峰，預示著山寨幣季節即將到來

隨著比特幣在艾略特波浪結構中的主導地位接近頂峰，加密貨幣市場正在經歷動態轉變，這預示著潛在的修正和對山寨幣有利的環境。

Key Takeaways

重點

The cryptocurrency market is showing a dynamic shift as Bitcoin dominance nears its peak within an Elliott wave structure, signaling a potential correction and a favorable environment for altcoins.

隨著比特幣在艾略特波浪結構中的主導地位接近頂峰，加密貨幣市場正在呈現動態轉變，這預示著潛在的修正和對山寨幣有利的環境。

While Bitcoin’s price continues to climb steadily, altcoins like Stellar Lumens (XLM), Mantra (OM), and Hedera (HBAR) have demonstrated explosive growth, significantly outperforming Bitcoin in both BTC and USD terms.

雖然比特幣的價格繼續穩步攀升，但Stellar Lumens (XLM)、Mantra (OM) 和Hedera (HBAR) 等山寨幣卻呈現出爆炸性增長，無論以比特幣還是美元計價，其表現都顯著優於比特幣。

XLM has emerged as the top gainer, maintaining its momentum even as other altcoins plateau, hinting at a potential altcoin season.

XLM 已成為漲幅最大的股票，即使在其他山寨幣價格趨於穩定的情況下仍保持其勢頭，暗示著潛在的山寨幣季節。

Bitcoin’s Dominance

比特幣的統治地位

The daily chart for Bitcoin dominance reveals a steady upward trend within a defined Elliott wave structure, with wave 5 now nearing completion. After breaking above critical resistance levels around 53% in early 2023, BTC.D has maintained a bullish trajectory, peaking near 61.5% on Nov. 21. This movement aligns with a rising wedge pattern, which indicates the possibility of a correction once the structure concludes.

比特幣主導地位的日線圖顯示，在定義的艾略特波浪結構內呈現穩定上升趨勢，第五波現已接近完成。在 2023 年初突破 53% 左右的關鍵阻力位後，BTC.D 一直保持看漲軌跡，於 11 月 21 日達到 61.5% 附近的峰值。結論是。

A further rise is expected to reach its next 62.5% horizontal resistance level target. A corrective wave could follow, potentially retracing to prior support zones and aligning with the conclusion of wave 5. This shift would indicate a transition in momentum from Bitcoin to altcoins, fostering a more favorable environment for the altcoin market.

預計進一步上漲將達到下一個62.5%水平阻力位目標。隨後可能會出現修正波，有可能回撤到先前的支撐區域並與第五波的結論保持一致。

The Altcoin Season Index graph measures whether the market favors altcoins or Bitcoin. The index ranges from 0 to 100, with a reading below 25 indicating a “Bitcoin Season,” while a reading above 75 suggests an “Altcoin Season.” The zone between 25 and 75 represents a neutral market phase where neither Bitcoin nor altcoins dominate significantly.

山寨幣季節指數圖衡量市場是否青睞山寨幣或比特幣。該指數範圍從 0 到 100，讀數低於 25 表示“比特幣季節”，而讀數高於 75 則表示“山寨幣季節”。 25 到 75 之間的區域代表中性市場階段，比特幣和山寨幣均不占主導地位。

Key Observations:

主要觀察：

This chart suggests that the market is currently in a consolidation phase, with no decisive leadership by either Bitcoin or altcoins, potentially setting the stage for a future shift depending on broader market conditions.

該圖表表明，市場目前正處於整合階段，比特幣或山寨幣都沒有決定性的領導地位，這可能為未來的轉變奠定基礎，具體取決於更廣泛的市場狀況。

Bitcoin Outperformers

比特幣表現優異

Over the past week, altcoins have demonstrated significant outperformance against Bitcoin, highlighting a shift in market momentum. Stellar (XLM) leads the pack with a 101% gain in BTC terms and a 122% increase in USD. Mantra (OM) follows closely with a 99% BTC gain and a 120% surge in USD, while Hedera (HBAR) also performed impressively, posting a 75% gain in BTC terms and a 92% rise in USD.

過去一周，山寨幣的表現明顯優於比特幣，凸顯了市場動能的轉變。 Stellar (XLM) 以比特幣計算上漲 101%，以美元計算上漲 122​​%，位居前列。 Mantra (OM) 緊隨其後，比特幣上漲 99%，美元上漲 120%，而 Hedera (HBAR) 也表現出色，比特幣上漲 75%，美元上漲 92%。

Meanwhile, Bitcoin saw a modest 10.50% increase in USD, reaching a new high of $98,835. This data underscores a notable altcoin rally, with smaller-cap assets dramatically outperforming the market leader.

同時，比特幣兌美元小幅上漲 10.50%，達到 98,835 美元的新高。該數據突顯了山寨幣的顯著反彈，小型股資產的表現大幅優於市場領先者。

The chart above compares the performance of the three mentioned cryptocurrencies: Stellar Lumens (XLM), Mantra (OM), and Hedera (HBAR). XLM (yellow line) shows the most significant upward movement, surpassing both OM (pink line) and HBAR (purple line). XLM has surged to $0.30, significantly outperforming the other two assets.

上圖比較了上述三種加密貨幣的表現：Stellar Lumens (XLM)、Mantra (OM) 和 Hedera (HBAR)。 XLM（黃線）顯示出最顯著的上升趨勢，超過了 OM（粉線）和 HBAR（紫線）。 XLM 已飆升至 0.30 美元，明顯優於其他兩種資產。

OM and HBAR have seen gains but have not matched XLM’s steep rally, which peaked on Nov. 18, while XLM's momentum persisted.

OM 和 HBAR 有所上漲，但未能趕上 XLM 的大幅上漲（11 月 18 日達到頂峰），而 XLM 的勢頭持續存在。

Altcoin Season Nears as Bitcoin Hits Key Resistance

隨著比特幣觸及關鍵阻力位，山寨幣季節即將來臨

In conclusion, the current market dynamics reflect a transitional phase. Bitcoin’s dominance nears the completion of a significant wave structure, signaling a potential correction and opportunities for the altcoin market to gain ground.

總之，當前的市場動態反映了一個過渡階段。比特幣的主導地位即將完成一個重要的波浪結構，這標誌著潛在的調整和山寨幣市場取得進展的機會。

The Altcoin Season Index confirms a balanced but Bitcoin-favoring environment, with the possibility of an altcoin breakout as market conditions shift. Stellar Lumens (XLM), Mantra (OM), and Hedera (HBAR) exemplify this trend, showcasing remarkable outperformance against Bitcoin, driven by strong investor interest and momentum.

山寨幣季節指數證實了一個平衡但有利於比特幣的環境，隨著市場狀況的變化，山寨幣有可能突破。 Stellar Lumens (XLM)、Mantra (OM) 和 Hedera (HBAR) 就是這一趨勢的例證，在投資者強烈興趣和勢頭的推動下，它們相對於比特幣表現出顯著的優異表現。

XLM stands out as the clear leader, sustaining its bullish trajectory beyond the peaks of OM and HBAR, fueled by network-specific developments and heightened trading activity.

XLM 脫穎而出，成為明顯的領導者，在網路特定發展和交易活動增加的推動下，維持其看漲軌跡，超越了 OM 和 HBAR 的峰值。

As Bitcoin dominance approaches key resistance levels and altcoins gain ground, the market could pivot toward a more favorable environment for smaller-cap assets, setting the stage for a dynamic end to the year and potential trends for 2025.

隨著比特幣的主導地位接近關鍵阻力位以及山寨幣的崛起，市場可能會轉向對小型資產更有利的環境，為年底的動態和 2025 年的潛在趨勢奠定基礎。