考恩表示，比特币的主导地位将结束

比特币的主导地位显示了比特币在加密货币总市值中所占的份额，揭示了市场实力和投资者情绪。

Crypto analyst Benjamin Cowen believes that Bitcoin (BTC) dominance will continue to increase regardless of the performance of USD and BTC.

加密货币分析师本杰明·考恩 (Benjamin Cowen) 认为，无论美元和 BTC 的表现如何，比特币 (BTC) 的主导地位都将继续增强。

Cowen, who is known for his stance on Bitcoin’s dominance, shared his thoughts in a recent analysis. According to Cowen, Bitcoin’s dominance is not affected by the news cycle, altcoin upgrades, the deflationary mechanism or memecoins. Instead, it is all about monetary policy.

以其对比特币主导地位的立场而闻名的考恩在最近的分析中分享了他的想法。考恩认为，比特币的主导地位不受新闻周期、山寨币升级、通货紧缩机制或模因币的影响。相反，这一切都与货币政策有关。

Cowen says that after the Covid crash in 2020, things got very “overheated” in 2021 and the following rate increase by the Fed caused investors to “systematically flee higher-risk assets, in each asset class, for lower-risk assets.”

Cowen 表示，2020 年新冠疫情崩盘后，2021 年情况变得非常“过热”，随后美联储加息导致投资者“系统性地逃离各个资产类别的高风险资产，转向风险较低的资产”。

Bitcoin Dominance to End, Says Cowen

考恩表示，比特币的统治地位即将结束

Cowen believes that Bitcoin is now in the final stretch “of this multi-year rally,” based on past cycle performance when three years of Bitcoin dominance are followed by an alt season — drawing in retail investors.

考恩认为，根据过去的周期表现，比特币现在正处于“多年反弹”的最后阶段，当时比特币占据三年主导地位之后是山寨币季节，吸引了散户投资者。

Bitcoin dominance shows Bitcoin’s share of the total crypto market cap, revealing market strength and investor sentiment. High dominance indicates a preference for Bitcoin, while low dominance suggests growing interest in altcoins, influencing investment strategies.

比特币的主导地位显示了比特币在加密货币总市值中所占的份额，揭示了市场实力和投资者情绪。高主导地位表明对比特币的偏好，而低主导地位表明对山寨币的兴趣日益浓厚，从而影响投资策略。

According to Cowen, retail investors wrongfully assume that “altcoins will always outperform Bitcoin” because that’s all they saw “when they arrived.” Cowen says “these people” spend the following three years waiting for altcoin season, “leading to disappointment” as the Bitcoin dominance grows.

根据考恩的说法，散户投资者错误地认为“山寨币将永远优于比特币”，因为这就是他们“到达时”所看到的一切。考恩表示，“这些人”在接下来的三年里等待山寨币季节，随着比特币主导地位的增强，“导致失望”。

However, the analyst and founder of Into the Cryptoverse believes that Bitcoin dominance will soon end and eventually, around late 2024 and into 2025 will start to decline. This coincides with a likely loosening of US monetary policy later this year.

然而，Into the Cryptoverse 的分析师兼创始人认为，比特币的主导地位将很快结束，并最终在 2024 年底和 2025 年左右开始下降。这恰逢美国今年晚些时候可能放松货币政策。

Cowen believes that Bitcoin dominance will top out at 60% – so time for altseason soon?

Cowen 认为，比特币的主导地位将达到 60%——那么很快就到了山寨币季节了？