比特币优势再次成为关注的中心。

在2025年5月上旬，BTC.D飙升至64.98％，是近三年来的最高点，开始了有关下一个Altcoin赛季的时机和形状的辩论。

Bitcoin (BTC) dominance is once again the center of attention. In early May 2025, BTC.D surged to 64.98%, its highest point in nearly three years, sparking discussions about the timing and shape of the next altcoin season.

比特币（BTC）优势再次成为关注的中心。 2025年5月上旬，BTC.D飙升至64.98％，是近三年来的最高点，引发了关于下一个山寨币季节的时机和形状的讨论。

Many analysts believe that the 65% threshold is a technical resistance. If rejected, it could set the stage for the long-awaited altcoin rally. While bulls anticipate a shift towards altcoins, skeptics believe the crypto market isn’t quite ready yet.

许多分析师认为，65％的阈值是技术抵抗。如果被拒绝，它可能会为期待已久的Altcoin集会奠定基础。尽管公牛预计将向Altcoins转移，但怀疑论者认为加密货币市场还没有准备好。

As the cryptocurrency market continues to evolve, the narrative surrounding Bitcoin (BTC) dominance and its implications for altcoins has become a subject of ongoing interest among traders and analysts.

随着加密货币市场的不断发展，围绕比特币（BTC）的叙述及其对山寨币的影响已成为交易者和分析师之间持续兴趣的主题。

As the cryptocurrency market continues to evolve, the narrative surrounding Bitcoin (BTC) dominance and its implications for altcoins has become a subject of ongoing interest among traders and analysts.

随着加密货币市场的不断发展，围绕比特币（BTC）的叙述及其对山寨币的影响已成为交易者和分析师之间持续兴趣的主题。

At the beginning of May, Bitcoin’s market share dominance reached 64.98%, the highest point since August 2022. This level, according to many analysts, is crucial as it usually leads to reversals and a shift in capital.

在5月初，比特币的市场份额统治达到64.98％，是2022年8月以来的最高点。根据许多分析师的说法，这一水平至关重要，因为它通常会导致逆转和资本变化。

At 65%, Bitcoin is deemed overbought relative to altcoins, making it an ideal time for a rotation into other assets. Analyst Darky shares this view, predicting a sharp pullback in BTC dominance and urging traders to “fill your bags with altcoins.”

比特币（65％）认为，比特币相对于Altcoins而被认为是过分购买的，这使其成为旋转到其他资产的理想时机。分析师Darky分享了这一观点，预测BTC优势的急剧下跌，并敦促交易者“用山寨币填充您的行李”。

According to him, a true altcoin season could unfold if Bitcoin dominance begins to decline from this key level, potentially driving BTC.D down to the long-standing support zone around 39%.

据他介绍，如果比特币优势从这个关键水平开始下降，可能会推动BTC.D到39％的长期支持区，那么真正的Altcoin季节可能会展开。

Another implication is clear. A BTC.D reversal at this level could be the green light for traders searching for the best crypto to buy. However, not everyone is ready to call it just yet.

另一个含义很清楚。 BTC.D在此级别上的逆转可能是寻找最佳加密货币的贸易商的绿灯。但是，并不是每个人都准备好称呼它。

According to the Milk Road newsletter, a genuine altseason is still some distance away. “Only 17% of altcoins have outperformed BTC over the last 90 days,” they note, suggesting that a steeper increase in Bitcoin’s market share, perhaps to the 70% mark, may be needed before any substantial altcoin rotation takes place.

据《米尔克路时报》报道，真正的Altseason仍然距离一定距离。他们指出：“在过去的90天内，只有17％的山寨币在过去的90天内表现优于BTC，”这表明，在发生任何实质性的AltCoin轮换之前，比特币的市场份额急剧增加，也许达到70％。

Recent market data supports that perspective. Bitcoin dominance rose steadily from 64.4% to 65% in the first week of May. However, the total crypto market cap decreased from $3 trillion to $2.87 trillion. This indicates that capital is exiting altcoins faster than it’s pulling away from Bitcoin.

最近的市场数据支持了这一观点。 5月的第一周，比特币优势从64.4％稳步上升到65％。但是，总加密市值从3万亿美元下降到2.87万亿美元。这表明资本比从比特币中退出的山羊更快地退出了山寨币。

Indeed, many altcoins are not growing as fast as the BTC price. Despite this, many traders are positioning themselves for the next altcoin cycle. Several tokens have shown early signs of strength for those looking for crypto to buy now.

确实，许多山寨币的增长速度不如BTC价格快。尽管如此，许多交易者仍在下一个Altcoin周期中定位自己。几个令牌已经显示出那些现在要购买加密货币的人的早期迹象。

Only 17% of altcoins have outperformed BTC over the last 90 days. That’s not rotation. That’s BTC dominance holding the wheel.

在过去的90天中，只有17％的山寨币表现优于BTC。那不是旋转。那是BTC持有方向盘的优势。

Until this number pushes past 70%, altseason isn’t on the table. Not yet. pic.twitter.com/jqYP1tbAku

直到这个数字推高70％之前，altseason不在桌上。还没有。 pic.twitter.com/jqyp1tbaku

— Milk Road (@MilkRoad) May 9, 2024.

- 2024年5月9日，牛奶路（@milkroad）。