这个加密货币市场周期有些不满意

如果您想知道为什么Altcoins不按预期的方式表现，那么您并不孤单。从历史上看，Altseason（Altcoins胜过比特币）一直是关键阶段

In the constantly shifting landscape of cryptocurrency, a question that has occupied the minds of many is: When will altseason arrive?

在加密货币的不断变化的景观中，这个问题占据了许多人的思想：altseason何时到达？

Historically, altseason — when altcoins outperform Bitcoin — has been a key phase in every major bull run. However, this time, things are different. Bitcoin (BTC) has already reached new all-time highs multiple times, yet many top altcoins are still lagging behind their previous cycle peaks.

从历史上看，Altseason（Altcoins胜过比特币）在每次大公牛比赛中都是一个关键阶段。但是，这次情况有所不同。比特币（BTC）已经多次达到了新的历史最高高点，但是许多顶级山羊仍然落后于其先前的周期峰。

Despite Bitcoin hitting new highs and crypto exchange-traded funds (ETFs) gaining immense popularity among institutional investors, one would expect to see new liquidity translate into altcoins performing well. But that doesn’t seem to be happening.

尽管比特币达到了新的高点和加密交易所交易的资金（ETF），但在机构投资者中获得了巨大的知名度，但人们希望看到新的流动性转化为Altcoins的表现良好。但这似乎没有发生。

Instead, most of the attention is on memecoins, which have seen a recent surge in interest. However, this has also led to a saturation of the market with an overwhelming number of tokens.

取而代之的是，大多数关注是对纪念因素的关注，这些因素最近引起了人们的兴趣激增。但是，这也导致了市场饱和的含量，使代币数量不堪。

Moreover, with rising inflation and a potential recession looming, one would expect institutional investors to shift their focus toward safer assets like bonds.

此外，随着通货膨胀率不断上升和潜在的衰退迫在眉睫，人们会期望机构投资者将注意力转向诸如债券之类的更安全的资产。

So, what’s going on here? Is altseason just delayed, or could it be that it won’t come at all? And if it does eventually arrive, how will it differ from previous cycles?

那么，这是怎么回事？ Altseason只是延迟了，还是根本不会来？如果它最终到达，它与以前的周期有何不同？

To get a better understanding of the current crypto market trends and what to expect next, we spoke with several crypto analysts.

为了更好地了解当前的加密市场趋势以及接下来的期望，我们与几位加密分析师进行了交谈。

Why is new liquidity primarily flowing into Bitcoin ETFs and not altcoins? Could institutional investors be permanently reshaping the crypto landscape, and what does that mean for altcoins?

为什么新的流动性主要流入比特币ETF而不是山寨币？机构投资者可以永久重塑加密货币景观，这对山寨币意味着什么？

In addition, we discuss whether the rise of memecoins has diluted liquidity, diverting attention away from altcoins’ chances to rally. As the market becomes saturated with tokens and institutional capital moves toward safer assets, what does this mean for altcoins’ future?

此外，我们讨论了模因素的兴起是否已稀释流动性，将注意力从山寨币的机会转移到集会上。随着市场变得饱和，代币和机构资本向更安全的资产迈进，这对altcoins的未来意味着什么？

Our discussion will also include altcoins that are positioned to benefit despite market challenges. Could these altcoins be the ones to catch the next big wave?

我们的讨论还将包括尽管有市场挑战，这些山寨币有助于受益。这些山寨币可能是捕捉下一波大浪的山币吗？

To find out the answers to these questions, check out the full video on Cointelegraph’s YouTube channel, and don’t forget to subscribe for more insights on the crypto market!

要查找这些问题的答案，请查看Cointelegraph的YouTube频道上的完整视频，不要忘记订阅对加密市场的更多见解！