AltCoins将市场份额作为比特币优势下降：旋转正在进行中吗？

最近的市场动态表明，整个加密货币领域的资本分配发生了细微但显着的转变。

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

最近的市场数据表明，整个加密货币部门的资本分配逐渐转移，而Altcoins则恢复了一些损失的地面。

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%.

根据GlassNode的最新“主要资产优势”图表，比特币优势（达到64％的高点）现在已经滑至61％。同时，以太坊已攀升至9.7％的市场份额，幅度 +3％，而其他山寨币则共同飙升至22.3％，增长了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.

这一运动发生在返回市场的更广泛风险的情绪中。在过去的一年中，比特币的优势稳定增长，高于64％的峰值，因为投资者在宏观经济不确定性期间赞成其相对安全。然而，最近的份额下降表明，人们对高价加密资产的信心增强了信心。

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.

以太坊的市场份额增长可能反映出第2层创新，参与以及对未来网络升级的期望而增加的吸引力。同时，AltCoins（尤其是在AI，DEFI和游戏领域）再次吸引了投机资本。

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.

玻璃节图表还补充了这种叙述，还显示了稳定的主导地位的逐渐减少。投资者似乎正在从现金当量的资产中旋转，并重新回到风险更大的戏剧中，这是典型的早期至中期牛市环境的行为。

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.

尽管BTC仍然以超过61％的优势领先，但ETH和AltCoins的强度增长可能标志着更广泛的市场轮换的早期阶段。从历史上看，类似的模式之前已经是Altcoin季节，非BTC资产的表现不佳。

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.

如果比特币的统治地位继续滑倒并接近60％的水平，那么在接下来的几周内，市场观察家可能会发现对山寨币的推动力更高。

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.

比特币优势与以太坊和其他山寨币的收益同时倾斜表明投资者行为可能发生变化。随着风险胃口的增长和资本开始多样化，可以为下一个Altcoin势头设定阶段，这将使比特币保持其当前价格水平的能力。