AltCoins將市場份額作為比特幣優勢下降：旋轉正在進行中嗎？

最近的市場動態表明，整個加密貨幣領域的資本分配發生了細微但顯著的轉變。

Recent market data suggests a gradual shift in capital allocation across the crypto sector, with altcoins reclaiming some lost ground.

最近的市場數據表明，整個加密貨幣部門的資本分配逐漸轉移，而Altcoins則恢復了一些損失的地面。

According to Glassnode's latest “Major Asset Dominance” chart, Bitcoin dominance—after reaching highs of 64%—has now slipped to 61%. At the same time, Ethereum has climbed to a 9.7% share of the market, marking a +3% gain, while other altcoins have collectively surged to 22.3%, up by 2%.

根據GlassNode的最新“主要資產優勢”圖表，比特幣優勢（達到64％的高點）現在已經滑至61％。同時，以太坊已攀升至9.7％的市場份額，幅度 +3％，而其他山寨幣則共同飆升至22.3％，增長了2％。

This movement comes amid a broader risk-on sentiment returning to markets. Bitcoin's dominance rose steadily throughout the past year, peaking above 64%, as investors favored its relative safety during macroeconomic uncertainty. However, the recent decline in its share hints at renewed confidence in higher-beta crypto assets.

這一運動發生在返回市場的更廣泛風險的情緒中。在過去的一年中，比特幣的優勢穩定增長，高於64％的峰值，因為投資者在宏觀經濟不確定性期間贊成其相對安全。然而，最近的份額下降表明，人們對高價加密資產的信心增強了信心。

Ethereum's growth in market share likely reflects increasing traction from Layer 2 innovations, staking participation, and the anticipation of future network upgrades. Meanwhile, altcoins—especially in the AI, DeFi, and gaming sectors—are attracting speculative capital once again.

以太坊的市場份額增長可能反映出第2層創新，參與以及對未來網絡升級的期望而增加的吸引力。同時，AltCoins（尤其是在AI，DEFI和遊戲領域）再次吸引了投機資本。

Complementing this narrative, the Glassnode chart also shows a gradual reduction in stablecoin dominance. Investors appear to be rotating out of cash-equivalent assets and back into riskier plays, a behavior typical of early- to mid-stage bull market environments.

玻璃節圖表還補充了這種敘述，還顯示了穩定的主導地位的逐漸減少。投資者似乎正在從現金當量的資產中旋轉，並重新回到風險更大的戲劇中，這是典型的早期至中期牛市環境的行為。

While BTC still leads with over 61% dominance, the growing strength in ETH and altcoins could signal the early phases of a broader market rotation. Historically, similar patterns have preceded altcoin seasons, where non-BTC assets out-perform the market leader.

儘管BTC仍然以超過61％的優勢領先，但ETH和AltCoins的強度增長可能標誌著更廣泛的市場輪換的早期階段。從歷史上看，類似的模式之前已經是Altcoin季節，非BTC資產的表現不佳。

If Bitcoin's dominance continues to slip and stalls near the 60% level, market watchers may see a more aggressive push into altcoins over the coming weeks.

如果比特幣的統治地位繼續滑倒並接近60％的水平，那麼在接下來的幾週內，市場觀察家可能會發現對山寨幣的推動力更高。

The dip in Bitcoin dominance alongside gains in Ethereum and other altcoins indicates a possible shift in investor behavior. With risk appetite growing and capital beginning to diversify, the stage may be set for the next leg of altcoin momentum—pending Bitcoin's ability to hold its current price levels.

比特幣優勢與以太坊和其他山寨幣的收益同時傾斜表明投資者行為可能發生變化。隨著風險胃口的增長和資本開始多樣化，可以為下一個Altcoin勢頭設定階段，這將使比特幣保持其當前價格水平的能力。