随着动量在加密货币市场的转变，Altcoin季节可能会出现

比特币的优势从65％以上急剧下降到63.89％，就像BTC自2月3日以来首次损失了100,000美元。

Altcoin season could be on the horizon as momentum shifts across the crypto market. Bitcoin dominance fell sharply from over 65% to 63.89% just as BTC broke past $100,000 for the first time since February 3.

随着动量在加密货币市场的转变，Altcoin季节可能会出现。自2月3日以来，BTC首次损失了100,000美元，比特币优势从65％以上急剧下降到63.89％。

This triggered a broad altcoin rally, with Ethereum (ETH) up nearly 13% and major names like Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) each gaining over 6%.

这引发了广泛的Altcoin集会，以太坊（ETH）上涨了近13％，诸如Solana（Sol），Dogecoin（Doge）和Cardano（Ada）等主要名称都获得了6％以上。

Combined with a bounce in the ETH/BTC ratio from its lowest levels since 2020, the setup suggests a possible rotation into altcoins for the first time in months.

结合自2020年以来的最低水平的ETH/BTC比率弹跳，该设置表明可能是几个月来首次旋转到AltCoins。

Altcoin Season Incoming? Bitcoin Dominance Dips as ETH and Majors Surge

Altcoin季节即将到来？随着ETH和专业的激增，比特币优势下降

Bitcoin's dominance dropped sharply from above 65% to 63.89% in just a few hours. This shift began as BTC breached the $100,000 mark for the first time since February 3.

在短短几个小时内，比特币的优势从65％以上急剧下降到63.89％。自2月3日以来，BTC违反了100,000美元的成绩，开始了这一转变。

The move sparked a strong altcoin rally, with Ethereum surging nearly 13% in the last 24 hours, and Solana, Dogecoin, and Cardano each rallying more than 6%.

此举引发了强大的山寨币集会，在过去的24小时内以太坊飙升了近13％，而Solana，Dogecoin和Cardano则均涨幅超过6％。

Until yesterday, Bitcoin's dominance was at its highest level since January 2021, highlighting how aggressively BTC outpaced the broader market in recent months.

直到昨天，比特币的统治地位一直处于自2021年1月以来的最高水平，强调了BTC在近几个月来积极地超过了更广泛的市场。

A sudden reversal like this often signals a capital rotation, with traders shifting profits from BTC into altcoins. Recently, CryptoQuant CEO Ki Young Ju called Bitcoin Cycle Theory obsolete as TradFi takes over.

这样的突然逆转通常标志着资本轮换，交易员将BTC的利润转移到了Altcoins。最近，随着Tradfi接管，CryptoQuant首席执行官Ki Young Ju称为比特币周期理论。

Adding to this narrative, the ETH/BTC ratio recently hit its lowest level since 2020—highlighting extended Ethereum underperformance versus Bitcoin.

除了这种叙述外，ETH/BTC的比率最近达到了自2020年以来的最低水平，高显示了以太坊的表现不佳与比特币。

A bounce from such historical lows could indicate the start of a structural shift favoring altcoins. If BTC dominance continues to fall while ETH/BTC rises, it would be a strong signal that the market is transitioning into an altcoin season.

这种历史低点的反弹可能表明有利于山寨币的结构转变的开始。如果BTC的优势在ETH/BTC上升时继续下降，那将有很大的信号表明市场正在过渡到Altcoin季节。

With altcoin volumes increasing and capital shifting into broader sectors, May 2025 could usher in a major altcoin season.

随着Altcoin量的增加，资本转移到更广泛的部门，2025年5月可以迎来一个主要的Altcoin季节。

May 2025: A Turning Point Toward Altcoin Season?

2025年5月：向山寨币季节的转折点？

The CoinMarketCap Altcoin Season Index has surged from 23 to 36 in the last four days. This index tracks whether Bitcoin or altcoins outperform over a specific period.

在过去的四天中，CoinMarketCap Altcoin季节指数从23升至36。该索引跟踪比特币和山寨币在特定时期内是否胜过。

Readings below 25 indicate “Bitcoin Season,” where BTC outpaces most altcoins. Scores between 25 and 75 are considered neutral, and values above 75 officially signal “Altcoin Season.”

下面的读数25表示“比特币季节”，BTC超过大多数山寨币。 25至75之间的分数被认为是中性的，高于75的值正式表示“山寨赛季节”。

The current surge into neutral territory follows a到達 at a yearly low of 12 in late April—its weakest point since December, when it peaked at 87.

当前进入中性领土的激增在4月下旬的年度低点为12点，这是自12月以来的最弱点，当时它达到了87个。

The CMC Altcoin Season Index measures whether at least 75% of the top 100 coins (excluding stablecoins and asset-backed tokens like WBTC and stETH) have outperformed Bitcoin over the last 90 days.

CMC AltCoin季节指数衡量了前100个硬币中至少有75％（不包括稳定币和资产支持的代币（如WBTC和Steth）在过去的90天中表现优于比特币。

So far in 2025, Bitcoin is up 10% year-to-date—performing better than most major altcoins except XRP, which has gained over 12%. Meanwhile, Ethereum remains at a 30% YTD loss, and coins like LINK, DOGE, AVAX, and SHIB have each dropped over 20%.

到目前为止，在2025年，比特币年仅上涨了10％，比大多数主要的山寨币（XRP）的表现要好得多，XRP增长了12％。同时，以太坊仍处于30％的YTD损失，Link，Doge，Avax和Shib之类的硬币分别下降了20％以上。

Despite this weak YTD performance, the sharp drop in BTC dominance, strong altcoin rallies in early May, and the rising Altcoin Index all suggest that May 2025 could begin a new altcoin season.

尽管YTD的表现较弱，BTC优势的急剧下降，五月初强大的Altcoin集会，而Altcoin指数上升均表明2025年5月可以开始新的Altcoin赛季。