Altcoin市值（不包括ETH）在第二季度獲得了126B美元

總山幣市值（不包括ETH）在第二季度獲得了1,260億美元，這加劇了人們對Altseason的猜測。

The total cryptocurrency market capitalization excluding Ether (ETH) has increased by $126 billion in Q2, sparking enthusiasm from analysts anticipating an altseason.

不包括Ether（ETH）的總加密貨幣市值在第二季度增加了1,260億美元，這引起了預計將要出現的分析師的熱情。

Analyst Javon Marks, known for his analysis of the TOTAL3 index (total market cap of altcoins excluding Bitcoin (BTC) and Ethereum) against the US money supply, recently pointed out a breakout on the 4-hour chart.

分析師Javon Marks以他對美國貨幣供應的總計3指數（不包括比特幣（BTC）和以太坊的總市值）的分析而聞名，最近指出了4小時圖表上的突破。

According to the analyst, this breakout, which occurred after a retest of the breakout level, is a critical indicator.

根據分析師的說法，這次突破是在重新測試水平重新測試後發生的，這是一個關鍵指標。

Likewise, anonymous crypto trader Moustache shared an analysis on X, highlighting a weekly inverse head-and-shoulders pattern in the TOTAL3 chart. Comparing 2021 and 2025, the chart mirrors 2021’s altcoin season when top alts surged 174% against Bitcoin’s 20% during the final leg. The pattern, a bullish reversal indicator, suggests a rally, with the analyst forecasting "much higher levels" for altcoins.

同樣，匿名加密交易員鬍鬚在X上分析了分析，突出了總計3圖中的每週倒數頭和股模式。與2021和2025相比，圖表反映了2021年的Altcoin賽季，當時Top Salts在最後一回合中對比特幣的20％飆升了174％。該模式是看漲的逆轉指標，暗示了一個集會，分析師預測了山寨幣的“更高水平”。

“Altseason” sparks mixed sentiment among analysts

分析師之間的“ Altseason”火花混合情緒

While some analysts are on the altcoin rally bandwagon, others are approaching with caution. Technical analyst Crypto Scient explained that the recent rise in altcoin market cap is yet to reflect a higher time frame (HTF) bullish trend shift. The analyst noted that the TOTAL2 trend remained bearish after hitting resistance at the $1.25 trillion level, and said,

雖然一些分析師在Altcoin Rally Bandwagon上，而另一些分析師則謹慎接近。技術分析師Crypto Scient解釋說，Altcoin市值最近的上升尚未反映出更高的時間範圍（HTF）看漲趨勢的變化。分析師指出，總計2趨勢在以1.25萬億美元的價格達到抵抗後仍然是看跌，並說，說，說，

Similarly, Crypto commentator DonaXBT argued that a significant breakdown in Bitcoin’s dominance trendline is essential for altcoins to experience a substantial move. The accompanying chart reveals that Bitcoin dominance is above 60%, with the weekly uptrend still intact.

同樣，加密評論員Donaxbt認為，比特幣主導地位趨勢線的嚴重崩潰對於Altcoins經歷實質性舉動至關重要。隨附的圖表顯示，比特幣優勢超過60％，每週上升趨勢仍然完好無損。

According to the analyst, a decline below the 60% level, followed by a retest of the support zone between 56% and 58%, could serve as the initial catalyst for a full-fledged altcoin season to emerge.

根據分析師的說法，低於60％的水平下降，隨後將支持區的重新測試在56％至58％之間，可以作為全面替代季節的初步催化劑。

Related: Warren Buffett exits crypto-friendly Nubank (NYSE:NU) holdings, netting $250M profit

相關：沃倫·巴菲特（Warren Buffett

Altcoin spot trading volume is still under $10 billion

Altcoin現貨交易量仍低於100億美元

Data from CryptoQuant indicates that altcoin spot trading volumes remain low, averaging $3-$5 billion/per day compared to $8-$12 billion/per day in Q4 2024, suggesting that altcoins are in the early stages of a rally. Despite these lower volumes, market observers see this as a precursor to significant growth, suggesting that altcoins have yet to reach their peak momentum.

來自CryptoQuant的數據表明，Altcoin景點交易量保持較低，平均每天3-5億美元/天，而第4季度2024年每天每天120億美元/天，這表明AltCoins處於集會的早期階段。儘管這些量較低，但市場觀察家將其視為顯著增長的先驅，這表明山寨幣尚未達到高峰動量。

The Altcoin Season Index, currently at 24, further supports this outlook by confirming that the market is in Bitcoin season, as noted by Blockchaincenter.net. Historically, an index below 25 indicates Bitcoin dominance, which can be a positive setup for altcoins. When the index climbs above 30-40, altcoins experience significant pumps as capital shifts from Bitcoin.

正如BlockchainCenter.net指出的那樣，目前24歲的Altcoin季季指數（目前為24歲）進一步支持了這種前景。從歷史上看，低於25的索引表示比特幣的優勢，這可能是山寨幣的積極設置。當索引攀升至30-40以上時，山寨幣會隨著比特幣的資本轉移而經歷重要的泵。

With trading volumes showing signs of recovery and the Altcoin Season Index suggesting a shift, investor optimism for an altcoin rally is increasing.

由於交易量顯示了恢復的跡象和Altcoin季節指數表明轉變，投資者對Altcoin Rally的樂觀態度正在增加。

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

本文不包含投資建議或建議。每個投資和交易舉動都涉及風險，讀者在做出決定時應進行自己的研究。