比特币优势标志着长期变化，替代币季节可能无限期暂停 - 市场更新比特币新闻

在过去的几周中，比特币在整个市场上的主导地位一直在稳步增长，即使许多比特币和许多其他加密货币也以负面的声明开始。

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.

根据CoinMarketCap的数据，比特币在加密货币市场中的主导地位已达到60.4％。这标志着自2021年牛市以来比特币优势的最高水平。

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.

随着比特币的主导地位的上升，已经讨论了山寨币季节的潜力，其中一些猜测可能是即将出现的。但是，加密分析师本杰明·考恩（Benjamin Cowen）认为，比特币的统治地位可能暂时持续下去，尤其是考虑到新的模因硬币推出的持续趋势。

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

比特币的主导地位显示出资本流的长期变化

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.

根据Cowen的说法，如其他/BTC图表所示，更广泛的观点表明，尽管偶尔会出现短暂的集会，但自2021年以来，Altcoins与比特币逐渐失去了蒸汽。该观察结果反驳了一些投资者对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，强调关键市场指标，其他/BTC的比率衡量了在前十名以外的比特币以外的所有加密货币的市值，但已有近三年的持续下降。

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.

该度量标准是Altcoin性能的晴雨表，自2021年牛市以来，本周已达到新的低点。这种下降表明，尽管少数山寨币的暂时集会，但与比特币相比，ALTS始终如一地失去了平地。

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将比特币优势的这种兴趣归因于Altcoin市场中的特定动态。 Altcoin市场的很大一部分是由炒作周期驱动的，新的模因硬币在崩溃之前出现了短暂的比特币。

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.

根据分析师的说法，许多投资者预计基于这些短寿命的泵将是一个山寨币季节，但未能认识到资本流回比特币的更广泛趋势。这种现象强调了在评估市场周期时考虑长期市场指标的重要性。

Key Market Indicators for Anticipating Altcoin Recovery

预期山寨币恢复的关键市场指标

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的持续下降表明，资本的始终流失远离山寨币，强调了比特币作为主要的加密货币的实力，尤其是在机构投资者中。但是，许多Altcoin支持者继续预期复兴。

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.

根据Cowen的说法，确定AltCoin季节的时间安排的一个关键因素是定量收紧（QT）。在最后一个牛市中，QT的结论标志着Alts的转折点，使他们能够对比特币进行动力。

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，鉴于QT仍然有效，他坚持认为，Altcoin卷土重来所需的条件尚未实现。结果，Altcoin季节可能无限期停顿。

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

目前，比特币在写作时的交易价格为97,900美元。