虽然比特币在加密货币市场中的优势持续稳定上升，但一个指标开始闪烁绿色

尽管比特币在加密市场中的统治地位持续稳定上升，但接下来可能会发生的事情开始闪烁绿色。

Bitcoin’s dominance in the crypto market continues its steady rise, but one indicator is beginning to flash green for what might come next: the Total crypto market cap excluding Bitcoin and Ethereum has shown a reversal. This suggests that capital might slowly be rotating into altcoins, a classic early sign that an altcoin season could be loading.

比特币在加密货币市场中的主导地位持续稳定上升，但是一个指标开始闪烁绿色，以便接下来会发生的事情：总计加密货币市场上限不包括比特币和以太坊，已经显示出逆转。这表明资本可能会慢慢旋转成山寨币，这是一个经典的早期迹象表明，Altcoin季节可能正在加载。

Bitcoin’s Historical Patterns Hint at What’s Ahead for Altcoins

比特币的历史模式暗示了Altcoins的未来情况

Generally, Bitcoin follows a clear pattern during its bull runs. In both the 2017 and 2020-2021 cycles, the asset quickly surges into parabolic rallies after breaking its all-time highs.

通常，比特币在公牛运行期间遵循清晰的模式。在2017年和2020-2021周期中，资产在打破了历史新高后，迅速涌现成抛物线集会。

Comparing those past cycles to the current one, a major difference stands out: Bitcoin didn’t make its parabolic move yet. Instead, it’s been consolidating around its all-time high level for several months — something that didn’t happen in previous cycles. In past bull markets, this stage was typically brief before prices took off rapidly.

将过去的周期与当前的周期进行比较，一个主要的差异很突出：比特币还没有做出抛物线措施。取而代之的是，几个月来，它一直在其历史最高水平上进行整合 - 这在以前的周期中没有发生。在过去的牛市中，这个阶段通常是在价格迅速起飞之前简短的。

This extended period of sideways movement hints that the current market cycle is behaving differently, and it may be gearing up for something big— both for Bitcoin and for altcoins.

横向运动的延长时期暗示，当前的市场周期的行为不同，并且可能为比特币和替代币提供了大型事情。

Also Read: Why The Next Altcoin Season Could Be The Biggest Ever

另请阅读：为什么下一个Altcoin赛季可能是有史以来最大的

Looking at the Total Market Cap excluding Bitcoin, a clear picture emerges. The market remains in a state of intense compression — a tight range where prices have neither broken out nor crashed. This pattern has been persisting for months, frustrating many traders and investors.

从不包括比特币的总市场上限看，出现了清晰的情况。市场仍然处于强烈压缩的状态 - 价格既不崩溃也不崩溃的紧密范围。这种模式已经持续了几个月，这使许多交易者和投资者感到沮丧。

During previous cycles, altcoins didn’t immediately rally after Bitcoin’s breakout. For instance, in December 2020, when Bitcoin was breaking all-time highs, the altcoin market was still far below its previous peak. The real altcoin rally started months later, in early 2021, after Bitcoin reached higher risk levels on technical indicators.

在以前的周期中，Altcoins在比特币突破后没有立即集会。例如，在2020年12月，当比特币打破历史最高点时，Altcoin市场仍远低于其先前的峰值。在比特币在技术指标上达到较高的风险水平之后，几个月后，真正的Altcoin集会开始了。

Low Bitcoin Risk Score Suggests Altcoins’ True Rally Yet To Come

低比特币风险分数表明Altcoins的真正集会尚未到来

At present, Bitcoin’s risk level remains relatively low compared to past bull markets. The Bitcoin Risk Model — which measures market overheating — is sitting at 56, a figure considerably lower than the levels seen in previous explosive rallies. In past cycles, altcoin seasons commenced when Bitcoin’s risk level pushed into the 80s and 90s.

目前，与过去的牛市相比，比特币的风险水平仍然相对较低。比特币风险模型（衡量市场过热）的位置为56，这一数字比以前的爆炸性集会的水平要低得多。在过去的周期中，当比特币的风险水平推到80年代和90年代时，山寨币季节开始了。

The market may still be in a pre-bull market phase, with altcoins patiently waiting for their turn. Altcoin season hasn’t arrived yet, but multiple signs say it could be loading.

市场可能仍处于前市场阶段，山寨币耐心地等待着它们。 Altcoin季节还没有到来，但是多个迹象表明它可能正在加载。

Also Read: Bitcoin Price Remains Above Key Level Despite Trump

另请阅读：尽管特朗普，比特币价格仍然高于关键水平

The unusual behavior of Bitcoin’s cycle, anticipated monetary policy shifts, and sustained compression in the altcoin market together suggest that the market is silently preparing for its next phase.

比特币周期的异常行为，预期的货币政策变化以及替补币市场的持续压缩表明，市场正在为下一阶段做准备。