等待阿爾特賽季返回？厭倦了看到比特幣上升，但是您最喜歡的Altcoin似乎無法跟上嗎？

好吧，根據Arca的說法，在每個加密週期中，這個小事稱為“ Altseason”可能不再是穩定的。

In the dynamic realm of cryptocurrency, the occurrence of altseason has been a subject of keen interest and discussion, especially as it may be losing steam.

在加密貨幣的動態領域中，Altseason的發生一直是濃厚的興趣和討論的主題，尤其是因為它可能會失去動力。

Known for its lively discussions on cryptocurrency, a recent post on the Bankless forum delved into the possibilities of altseason returning in 2024, considering the sluggish performance of many top altcoins despite Bitcoin’s strong rally.

考慮到儘管比特幣的強大集會，許多頂級替代幣的表現遲鈍，因此以其對加密貨幣的生動討論而聞名。

A factor that may be affecting the cryptocurrency market is the approval of spot Bitcoin ETFs, which has brought a greater focus on the flagship cryptocurrency.

可能影響加密貨幣市場的一個因素是批准比特幣ETF，這使人們更加關注旗艦加密貨幣。

However, according to Jeff Dorman, chief investment officer at Arca, that little event called ‘altseason’ may not be a stable occurrence in every crypto cycle anymore.

但是，根據ARCA首席投資官Jeff Dorman的說法，這一小事稱為“ Altseason”可能不再是每個加密週期中的穩定事件。

As major cryptos like Solana (SOL) and Dogecoin (DOGE) are closely mimicking the move of the big one – Bitcoin – smaller altcoins may struggle to keep up the pace.

由於諸如Solana（Sol）和Dogecoin（Doge）之類的主要加密貨幣正在密切模仿大型的移動 - 比特幣 - 較小的Altcoins可能難以保持步伐。

Analysts Agree: ETF a Gamechanger for Crypto

分析師同意：ETF是加密貨幣的gamechanger

Echoing this, CryptoQuant CEO Ki Young Ju said that while altseason might still be a thing, it would be different than it had been in the past.

CryptoQuant首席執行官Ki Young Ju回應了這一點，雖然Altseant可能仍然是一回事，但它與過去不同。

In a post on social platform X, the analyst said that “the era of everything pumping is over”.

在社交平台X上的一篇文章中，分析師說：“一切泵的時代已經結束”。

As per his analysis, the likely winners for 2025 are those altcoins with a looming ETF approval, projects that can generate income and those that are “sustainable attention drivers” – the rest “won’t make it”, Ju added.

根據他的分析，2025年的可能獲勝者是那些擁有迫在眉睫的ETF批准的Altcoins，可以產生收入的項目以及那些是“可持續的關注驅動因素”的項目 - 其餘的“不會成功”。

According to a Bloomberg report, Cosmo Jiang, general partner at Pantera Capital, said that the ETFs have created a barrier between Bitcoin and other digital assets. He also said that most of crypto is still not easily accessible to traditional brokerage accounts “and the more that happens, the more it builds on itself, because these are momentum assets”.

根據彭博社的一份報告，Pantera Capital的普通合夥人Cosmo Jiang表示，ETF在比特幣和其他數字資產之間造成了障礙。他還說，傳統的經紀帳戶仍然不容易訪問“加密貨幣”“越多，它就越多，因為這些是勢頭資產”。

“Altseason is Brewing”, Says Crypto Trader

加密交易員說：“阿爾特賽季正在釀造”

Not everyone shares the negative sentiment though. For example, Bitcoin and altcoin trader Merlijn The Trader, anticipated on X that if current trends follow past patterns, the market could see a rise to over US$9 trillion (AU$14.4 trillion) in total market cap over the next year.

並非每個人都有負面情緒。例如，比特幣和替代幣交易者Merlijn交易員預計，如果當前趨勢遵循過去的模式，那麼明年的總市值將會在總市值上增加9萬億美元以上（AU 14.4萬億美元）。

Related: Slam Dunk in the Crypto Court: Rumble Kong League Set to Launch FAME Token on Ronin

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He said the “resistance trendline” suggests a point where rising prices have previously ceased increasing, implying that if this resistance is broken, a significant upward movement in market cap could occur.

他說，“抵抗趨勢線”表明，價格上漲以前已經停止上漲了，這意味著，如果這種阻力破裂，可能會發生重大的市值向上移動。