比特币的主导地位接近顶峰，预示着山寨币季节即将到来

随着比特币在艾略特波浪结构中的主导地位接近顶峰，加密货币市场正在经历动态转变，这预示着潜在的修正和对山寨币有利的环境。

Key Takeaways

要点

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.

随着比特币在艾略特波浪结构中的主导地位接近顶峰，加密货币市场正在呈现动态转变，这预示着潜在的修正和对山寨币有利的环境。

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.

虽然比特币的价格继续稳步攀升，但 Stellar Lumens (XLM)、Mantra (OM) 和 Hedera (HBAR) 等山寨币却呈现出爆炸性增长，无论以比特币还是美元计价，其表现都显着优于比特币。

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

XLM 已成为涨幅最大的股票，即使在其他山寨币价格趋于稳定的情况下仍保持其势头，暗示着潜在的山寨币季节。

Bitcoin’s Dominance

比特币的统治地位

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.

比特币主导地位的日线图显示，在定义的艾略特波浪结构内呈稳定上升趋势，第五波现已接近完成。在 2023 年初突破 53% 左右的关键阻力位后，BTC.D 一直保持看涨轨迹，于 11 月 21 日达到 61.5% 附近的峰值。这一走势与上升楔形形态一致，表明一旦结构出现调整的可能性结论是。

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.

预计进一步上涨将达到下一个62.5%水平阻力位目标。随后可能会出现修正波，可能会回撤至先前的支撑区域并与第五波的结论保持一致。这种转变将表明势头从比特币转向山寨币，从而为山寨币市场创造更有利的环境。

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.

山寨币季节指数图衡量市场是否青睐山寨币或比特币。该指数范围从 0 到 100，读数低于 25 表示“比特币季节”，而读数高于 75 则表示“山寨币季节”。 25 到 75 之间的区域代表中性市场阶段，比特币和山寨币均不占主导地位。

Key Observations:

主要观察结果：

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.

该图表表明，市场目前正处于整合阶段，比特币或山寨币都没有决定性的领导地位，这可能为未来的转变奠定基础，具体取决于更广泛的市场状况。

Bitcoin Outperformers

比特币表现优异

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.

过去一周，山寨币的表现明显优于比特币，凸显了市场势头的转变。 Stellar (XLM) 以比特币计算上涨 101%，以美元计算上涨 122%，位居前列。 Mantra (OM) 紧随其后，比特币上涨 99%，美元上涨 120%，而 Hedera (HBAR) 也表现出色，比特币上涨 75%，美元上涨 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.

与此同时，比特币兑美元小幅上涨 10.50%，达到 98,835 美元的新高。该数据突显了山寨币的显着反弹，小盘股资产的表现大幅优于市场领先者。

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.

上图比较了上述三种加密货币的表现：Stellar Lumens (XLM)、Mantra (OM) 和 Hedera (HBAR)。 XLM（黄线）显示出最显着的上升趋势，超过了 OM（粉线）和 HBAR（紫线）。 XLM 已飙升至 0.30 美元，明显优于其他两种资产。

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 有所上涨，但未能赶上 XLM 的大幅上涨（11 月 18 日达到顶峰），而 XLM 的势头持续存在。

Altcoin Season Nears as Bitcoin Hits Key Resistance

随着比特币触及关键阻力位，山寨币季节即将来临

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.

总之，当前的市场动态反映了一个过渡阶段。比特币的主导地位即将完成一个重要的波浪结构，这标志着潜在的调整和山寨币市场取得进展的机会。

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.

山寨币季节指数证实了一个平衡但有利于比特币的环境，随着市场状况的变化，山寨币有可能突破。 Stellar Lumens (XLM)、Mantra (OM) 和 Hedera (HBAR) 就是这一趋势的例证，在投资者强烈兴趣和势头的推动下，它们相对于比特币表现出显着的优异表现。

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 脱颖而出，成为明显的领导者，在网络特定发展和交易活动增加的推动下，维持其看涨轨迹，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.

随着比特币的主导地位接近关键阻力位以及山寨币的崛起，市场可能会转向对小型资产更有利的环境，为年底的动态和 2025 年的潜在趋势奠定基础。