比特幣在2月的低點：全秋季中季節，還是短暫的逃跑？

自2月以來，比特幣優勢已經下降到看不見的水平，這表明了潛在的​​山寨幣季節。但是，這是可持續的轉變還是臨時趨勢？

Bitcoin Dominance at February Lows: Altseason in Full Swing, or a Fleeting Fling?

比特幣在2月的低點：全秋季中季節，還是短暫的逃跑？

Bitcoin dominance is showing levels last seen in February, settling around 57%. Is this a sign of altcoins taking over or just a temporary dip? Let's dive into what's happening in the crypto market.

比特幣優勢顯示2月最後一次出現的水平，定居約57％。這是Altcoins接管還是只是臨時傾斜的跡象？讓我們深入了解加密貨幣市場的情況。

The Dip: Bitcoin's Dominance Decays

DIP：比特幣的主導地位衰減

Bitcoin dominance has slipped to its lowest point since February, hovering around 57.2%. This isn't just a minor adjustment; it's a clear indication that capital is flowing out of Bitcoin and into alternative cryptocurrencies (altcoins). As Rekt Capital pointed out, a break below 57.68% could trigger a full-blown "altseason."

自2月以來，比特幣優勢已滑到其最低點，徘徊在57.2％左右。這不僅僅是一個小的調整；這清楚地表明，資本正在從比特幣中流出並融入替代的加密貨幣（AltCoins）。正如Rekt Capital所指出的那樣，低於57.68％的休息可能會觸發成熟的“ Altseason”。

Back in May, Bitcoin held near 65% dominance. The drop to 57.16% by September represents a significant shift of capital. Altcoin spot volume share has climbed, while Bitcoin and Ethereum have seen drops, showing liquidity is moving fast. Institutional activity is shifting too, with Ethereum and other layer-1 ETFs seeing nearly double the inflows of Bitcoin ETFs in the US and Europe. In Asia, whale transfers from Bitcoin into Ethereum and altcoins are visible across major exchanges.

早在五月，比特幣的支配地位接近65％。到9月，下降到57.16％是資本的重大轉移。 AltCoin份量份額已攀升，而比特幣和以太坊的量已經下降，表明流動性正在迅速發展。機構活動也在不斷變化，以太坊和其他1層ETF看到了美國和歐洲比特幣ETF的流入的兩倍。在亞洲，鯨魚從比特幣轉移到以太坊，而在主要交易所之間可見山雀。

Altseason: A Wild Ride

Altseason：瘋狂的旅程

The Altcoin Season Index recently spiked 13% in a single day, hitting 76, its first true "altseason" signal since the last election frenzy. Traders are chasing bigger wins outside of Bitcoin, taking on higher risks.

Altcoin賽季指數最近在一天中飆升了13％，命中率為76，這是自上次大選狂潮以來的第一個真實“ Altseason”信號。交易者正在比特幣之外追求更大的勝利，承擔更高的風險。

Dogecoin, for example, is making waves, with the DOGE/BTC pair surging. The pattern is familiar: memecoins catch fire, Bitcoin dominance dips, and Ethereum treads water.

例如，Dogecoin正在引起海浪，Doge/BTC對飆升。模式很熟悉：Memecoins著火，比特幣優勢下降和以太坊踩水。

The Caution Flag: A History Lesson

警告旗：歷史課

History reminds us that altcoin euphoria doesn't last forever. In a previous cycle, the Altcoin Season Index soared, but when Bitcoin's dominance snapped back, altcoins got crushed. Data shows altcoin leverage is significantly higher than Bitcoin's, a sign that calm waters may not last.

歷史提醒我們，Altcoin Euphoria不會永遠持續下去。在上一個週期中，Altcoin賽季指數飆升，但是當比特幣的統治地位後退時，Altcoins被壓碎了。數據表明，山幣槓桿率明顯高於比特幣的槓桿作用，這表明平靜的水可能不會持續下去。

A New Twist in the Cycle?

週期中的新轉折？

Unlike the last cycle, Bitcoin dominance isn't bouncing back. It has printed two lower lows, suggesting capital isn't rotating back into Bitcoin but staying with altcoins. This persistent flow away from Bitcoin has left it trading sideways.

與最後一個週期不同，比特幣優勢不會反彈。它打印了兩個低低，表明資本不會旋轉回比特幣，而是與山寨幣保持在一起。從比特幣遠離的這種持續流使IT交易側向。

Thrill or Trap? Looking Ahead

刺激還是陷阱？展望未來

The altcoin crowd is dancing, but Bitcoin dominance is struggling. Explosive gains could be followed by a sharp correction. The question isn't whether altseason ends, but how messy the exit will be this time around.

Altcoin人群正在跳舞，但比特幣的優勢卻在掙扎。爆炸性收益可以進行急劇校正。問題不是阿爾特季節是否結束，而是這次出口會多麼混亂。

So, is this the start of a prolonged altcoin season, or just a temporary dip? Only time will tell! Either way, it's a wild ride, so buckle up and enjoy the show. And remember, always do your own research before diving into the crypto pool!

那麼，這是延長山寨幣季節的開始，還是只是臨時下降？只有時間會證明！無論哪種方式，這都是瘋狂的旅程，所以搭扣並享受演出。請記住，在潛入加密池之前，請務必做自己的研究！