比特币在2月的低点：全秋季中季节，还是短暂的逃跑？

自2月以来，比特币优势已经下降到看不见的水平，这表明了潜在的山寨币季节。但是，这是可持续的转变还是临时趋势？

Bitcoin Dominance at February Lows: Altseason in Full Swing, or a Fleeting Fling?

比特币在2月的低点：全秋季中季节，还是短暂的逃跑？

Bitcoin dominance is showing levels last seen in February, settling around 57%. Is this a sign of altcoins taking over or just a temporary dip? Let's dive into what's happening in the crypto market.

比特币优势显示2月最后一次出现的水平，定居约57％。这是Altcoins接管还是只是临时倾斜的迹象？让我们深入了解加密货币市场的情况。

The Dip: Bitcoin's Dominance Decays

DIP：比特币的主导地位衰减

Bitcoin dominance has slipped to its lowest point since February, hovering around 57.2%. This isn't just a minor adjustment; it's a clear indication that capital is flowing out of Bitcoin and into alternative cryptocurrencies (altcoins). As Rekt Capital pointed out, a break below 57.68% could trigger a full-blown "altseason."

自2月以来，比特币优势已滑到其最低点，徘徊在57.2％左右。这不仅仅是一个小的调整；这清楚地表明，资本正在从比特币中流出并融入替代的加密货币（AltCoins）。正如Rekt Capital所指出的那样，低于57.68％的休息可能会触发成熟的“ Altseason”。

Back in May, Bitcoin held near 65% dominance. The drop to 57.16% by September represents a significant shift of capital. Altcoin spot volume share has climbed, while Bitcoin and Ethereum have seen drops, showing liquidity is moving fast. Institutional activity is shifting too, with Ethereum and other layer-1 ETFs seeing nearly double the inflows of Bitcoin ETFs in the US and Europe. In Asia, whale transfers from Bitcoin into Ethereum and altcoins are visible across major exchanges.

早在五月，比特币的支配地位接近65％。到9月，下降到57.16％是资本的重大转移。 AltCoin份量份额已攀升，而比特币和以太坊的量已经下降，表明流动性正在迅速发展。机构活动也在不断变化，以太坊和其他1层ETF看到了美国和欧洲比特币ETF的流入的两倍。在亚洲，鲸鱼从比特币转移到以太坊，而在主要交易所之间可见山雀。

Altseason: A Wild Ride

Altseason：疯狂的旅程

The Altcoin Season Index recently spiked 13% in a single day, hitting 76, its first true "altseason" signal since the last election frenzy. Traders are chasing bigger wins outside of Bitcoin, taking on higher risks.

Altcoin赛季指数最近在一天中飙升了13％，命中率为76，这是自上次大选狂潮以来的第一个真实“ Altseason”信号。交易者正在比特币之外追求更大的胜利，承担更高的风险。

Dogecoin, for example, is making waves, with the DOGE/BTC pair surging. The pattern is familiar: memecoins catch fire, Bitcoin dominance dips, and Ethereum treads water.

例如，Dogecoin正在引起海浪，Doge/BTC对飙升。模式很熟悉：Memecoins着火，比特币优势下降和以太坊踩水。

The Caution Flag: A History Lesson

警告旗：历史课

History reminds us that altcoin euphoria doesn't last forever. In a previous cycle, the Altcoin Season Index soared, but when Bitcoin's dominance snapped back, altcoins got crushed. Data shows altcoin leverage is significantly higher than Bitcoin's, a sign that calm waters may not last.

历史提醒我们，Altcoin Euphoria不会永远持续下去。在上一个周期中，Altcoin赛季指数飙升，但是当比特币的统治地位后退时，Altcoins被压碎了。数据表明，山币杠杆率明显高于比特币的杠杆作用，这表明平静的水可能不会持续下去。

A New Twist in the Cycle?

周期中的新转折？

Unlike the last cycle, Bitcoin dominance isn't bouncing back. It has printed two lower lows, suggesting capital isn't rotating back into Bitcoin but staying with altcoins. This persistent flow away from Bitcoin has left it trading sideways.

与最后一个周期不同，比特币优势不会反弹。它打印了两个低低，表明资本不会旋转回比特币，而是与山寨币保持在一起。从比特币远离的这种持续流使IT交易侧向。

Thrill or Trap? Looking Ahead

刺激还是陷阱？展望未来

The altcoin crowd is dancing, but Bitcoin dominance is struggling. Explosive gains could be followed by a sharp correction. The question isn't whether altseason ends, but how messy the exit will be this time around.

Altcoin人群正在跳舞，但比特币的优势却在挣扎。爆炸性收益可以进行急剧校正。问题不是阿尔特季节是否结束，而是这次出口会多么混乱。

So, is this the start of a prolonged altcoin season, or just a temporary dip? Only time will tell! Either way, it's a wild ride, so buckle up and enjoy the show. And remember, always do your own research before diving into the crypto pool!

那么，这是延长山寨币季节的开始，还是只是临时下降？只有时间会证明！无论哪种方式，这都是疯狂的旅程，所以搭扣并享受演出。请记住，在潜入加密池之前，请务必做自己的研究！