比特币的市场份额：空中的另类季节？

尽管比特币的价格飞涨，但随着山寨币的增长势头，其市场份额仍在下滑。 alt季节终于来了吗？

Bitcoin's Market Share: Alt-Season in the Air?

比特币的市场份额：空中的另类季节？

Bitcoin's been on a tear, hitting new all-time highs, but something interesting is happening: its market share is shrinking. With Bitcoin dominance potentially trailing downward, and altcoins gaining momentum. What's behind this shift, and could it signal the start of alt-season?

比特币一直流泪，达到了新的高潮，但是正在发生一些有趣的事情：它的市场份额正在缩小。随着比特币的优势，潜在地向下落后，而Altcoins则获得了动力。这次转变的背后是什么，它可以标志着Alt季节的开始吗？

The Bitcoin Balancing Act

比特币平衡行为

Bitcoin recently reached an all-time high of $118,000, fueled by spot Bitcoin ETFs and institutional adoption. However, this surge hasn't translated into complete market dominance. Instead, investors are diversifying, and altcoins are catching their eye.

比特币最近达到了118,000美元的历史最高点，这是由现场比特币ETF和机构采用的推动力所推动的。但是，这种激增并未转化为完全的市场优势。取而代之的是，投资者正在多元化，而Altcoins引起了他们的注意。

Why Bitcoin's Market Share is Slipping

为什么比特币的市场份额滑倒

Several factors are contributing to Bitcoin's shrinking market share:

有几个因素导致比特币的市场份额缩小：

• Altcoin Investments: Savvy investors often rotate profits from Bitcoin into altcoins, seeking diversification and potentially higher returns.
• Ethereum's Rise: Ethereum's market share is steadily increasing, driven by its utility in decentralized applications and its potential for growth.
• Speculation: Bitcoin's all-time highs attract new investors, who often seek the "next Bitcoin" in low-cap altcoins, diluting Bitcoin's dominance.
• Ecosystem Tokens: Tokens like Ethereum, Solana, and Polygon, which power decentralized economies, are attracting attention due to their functionality and growth potential.

DEXs on the Rise

Dex在上升

Adding another layer to this dynamic is the surge in decentralized exchange (DEX) trading volume. DEXs captured a record 23% of crypto spot trading volume in Q2 2025, signaling a growing preference for on-chain trading mechanisms. This trend aligns with the increasing popularity of self-custody solutions, empowering users to control their digital assets directly.

在这种动态中添加另一层是分散交换（DEX）交易量的激增。 DEX捕获了第2季度2025年第2季度加密现货交易量的创纪录的23％，这表明人们对链交易机制的偏爱越来越大。这种趋势符合自我客户解决方案的日益普及，使用户能够直接控制其数字资产。

Trump Media's Bitcoin Bet

特朗普媒体的比特币押注

In a bold move, Trump Media and Technology Group has confirmed a $2 billion Bitcoin treasury strategy. This significant investment, representing two-thirds of their liquid reserves, underscores Bitcoin's growing acceptance as a strategic asset. The company's CEO, Devin Nunes, emphasized that this move aims to support financial independence and shield against traditional financial system risks.

特朗普媒体和技术集团以大胆的举动确认了一项20亿美元的比特币国库策略。这项巨大的投资代表了其液体储量的三分之二，这强调了比特币作为战略资产的日益认可。该公司的首席执行官德文·纳尼斯（Devin Nunes）强调，此举旨在支持金融独立性，并屏蔽传统的金融体系风险。

Alt-Season: Hype or Reality?

alt季节：炒作还是现实？

Altcoins have been gaining momentum, with the market capitalization excluding Bitcoin reaching its highest level since February at $1.32 trillion. Ethereum and XRP have seen substantial gains, and on-chain data reveals a wave of altcoin withdrawals from exchanges, suggesting investors are moving assets to self-custody wallets for long-term holding.

AltCoins一直在增长，市值不包括比特币以来2月以来的最高水平，为1.32万亿美元。以太坊和XRP已经获得了可观的收益，链上数据显示，从交易所撤出了山寨币，这表明投资者正在将资产转移到自居住钱包中，以进行长期持有。

While it's too early to declare a full-blown alt-season, the "trickle-down" effect from Bitcoin accumulation into the altcoin market aligns with historical patterns that often precede altcoin rallies. Keep an eye on Bitcoin dominance; a continued downward trend could signal a more significant shift.

虽然现在宣布一个成熟的另类季节还为时过早，但比特币积累到Altcoin市场的“ trick流”效果与经常在Altcoin集会之前的历史模式保持一致。密切关注比特币优势；持续的下降趋势可能表明更明显的转变。

Final Thoughts

最后的想法

The crypto landscape is constantly evolving. Bitcoin's continued success is no longer the only story, altcoins are getting stronger. Whether alt-season is truly upon us remains to be seen, but one thing's for sure: it's an exciting time to be in crypto! So buckle up, do your research, and enjoy the ride!

加密景观不断发展。比特币的持续成功不再是唯一的故事，Altcoins越来越强大。 alt季节是否真的在我们身上还有待观察，但可以肯定的是：这是一个令人兴奋的时刻！因此，搭扣，进行研究，享受旅程！