比特幣優勢標誌著長期變化，替代幣季節可能無限期暫停 - 市場更新比特幣新聞

在過去的幾周中，比特幣在整個市場上的主導地位一直在穩步增長，即使許多比特幣和許多其他加密貨幣也以負面的聲明開始。

Bitcoin’s dominance in the cryptocurrency market has reached a new high of 60.4%, according to data from CoinMarketCap. This marks the highest level of Bitcoin dominance since the 2021 bull market.

根據CoinMarketCap的數據，比特幣在加密貨幣市場中的主導地位已達到60.4％。這標誌著自2021年牛市以來比特幣優勢的最高水平。

As Bitcoin’s dominance rises, there have been discussions about the potential for an altcoin season, with some speculating that it may be imminent. However, crypto analyst Benjamin Cowen suggests that Bitcoin’s dominance may continue for now, especially considering the ongoing trend of new meme coin launches.

隨著比特幣的主導地位的上升，已經討論了山寨幣季節的潛力，其中一些猜測可能是即將出現的。但是，加密分析師本傑明·考恩（Benjamin Cowen）認為，比特幣的統治地位可能暫時持續下去，尤其是考慮到新的模因硬幣推出的持續趨勢。

Bitcoin’s Dominance Shows a Long-Term Shift in Capital Flow

比特幣的主導地位顯示出資本流的長期變化

According to Cowen, the broader perspective, as depicted by the OTHERS/BTC chart, reveals that altcoins have been gradually losing steam versus Bitcoin since 2021, despite occasional short-lived rallies. This observation counters the anticipation among some investors for a爆発的なaltcoin rally.

根據Cowen的說法，如其他/BTC圖表所示，更廣泛的觀點表明，儘管偶爾會出現短暫的集會，但自2021年以來，Altcoins與比特幣逐漸失去了蒸汽。該觀察結果反駁了一些投資者對Altcoin Rally的期望。

Highlighting a key market indicator, Cowen points out that the OTHERS/BTC ratio, which measures the market capitalization of all cryptocurrencies outside the top ten relative to Bitcoin, has been continuously declining for nearly three years.

Cowen指出，強調關鍵市場指標，其他/BTC的比率衡量了在前十名以外的比特幣以外的所有加密貨幣的市值，但已有近三年的持續下降。

This metric, which serves as a barometer for altcoin performance, has reached a new low this week since the 2021 bull market. This decline indicates that alts have lost ground consistently compared to Bitcoin, despite temporary rallies by a handful of altcoins.

該度量標準是Altcoin性能的晴雨表，自2021年牛市以來，本週已達到新的低點。這種下降表明，儘管少數山寨幣的暫時集會，但與比特幣相比，ALTS始終如一地失去了平地。

Cowen attributes this rise in Bitcoin dominance to a specific dynamic within the altcoin market. A significant portion of the altcoin market is driven by hype cycles, with new meme coins emerging to briefly outshine Bitcoin before crashing.

Cowen將比特幣優勢的這種興趣歸因於Altcoin市場中的特定動態。 Altcoin市場的很大一部分是由炒作週期驅動的，新的模因硬幣在崩潰之前出現了短暫的比特幣。

Many investors anticipate an altcoin season based on these short-lived pumps but fail to recognize the broader trend of capital flowing back into Bitcoin, according to the analyst. This phenomenon highlights the importance of considering long-term market indicators when assessing market cycles.

根據分析師的說法，許多投資者預計基於這些短壽命的泵將是一個山寨幣季節，但未能認識到資本流回比特幣的更廣泛趨勢。這種現象強調了在評估市場週期時考慮長期市場指標的重要性。

Key Market Indicators for Anticipating Altcoin Recovery

預期山寨幣恢復的關鍵市場指標

The sustained decline in OTHERS/BTC demonstrates a consistent flow of capital away from altcoins, highlighting Bitcoin’s strength as the dominant cryptocurrency, particularly among institutional investors. However, many altcoin proponents continue to anticipate a resurgence.

其他人/BTC的持續下降表明，資本的始終流失遠離山寨幣，強調了比特幣作為主要的加密貨幣的實力，尤其是在機構投資者中。但是，許多Altcoin支持者繼續預期復興。

One crucial factor in determining the timing of an altcoin season is quantitative tightening (QT), according to Cowen. During the last bull market, the conclusion of QT marked a turning point for alts, enabling them to regain momentum against Bitcoin.

根據Cowen的說法，確定AltCoin季節的時間安排的一個關鍵因素是定量收緊（QT）。在最後一個牛市中，QT的結論標誌著Alts的轉折點，使他們能夠對比特幣進行動力。

However, given that QT is still in effect, he maintains that the conditions necessary for an altcoin comeback have not yet materialized. As a result, the altcoin season may be on an indefinite pause.

但是，鑑於QT仍然有效，他堅持認為，Altcoin捲土重來所需的條件尚未實現。結果，Altcoin季節可能無限期停頓。

Bitcoin is currently trading at $97,900 at the time of writing.

目前，比特幣在寫作時的交易價格為97,900美元。