Coinbase 分析师认为，随着比特币主导地位的下降，山寨币可能会上涨

他们指出，在 1 月 15 日通胀缓解反弹期间，比特币的主导地位最近有所下降——从 58.5% 降至 57.3%，这表明交易者可能正在准备

Coinbase highlights several indicators suggesting a potential altcoin rally.

Coinbase 强调了几个表明山寨币潜在上涨的指标。

The recent inflation relief rally saw a decline in Bitcoin’s dominance, dropping from 58.5% to 57.3%. This decrease, albeit small, may indicate a shift in trader attention toward altcoins.

最近的通胀缓解反弹导致比特币的主导地位下降，从 58.5% 降至 57.3%。这种下降虽然很小，但可能表明交易者的注意力转向山寨币。

Furthermore, Bitcoin's dominance has been gradually decreasing since late November 2024. If this trend continues, it could pave the way for a broader altcoin market rally.

此外，自 2024 年 11 月下旬以来，比特币的主导地位一直在逐渐下降。如果这种趋势持续下去，可能会为更广泛的山寨币市场反弹铺平道路。

Coinbase analysts also observed substantial stablecoin inflows, with $1.3 billion added in the past week. This contrasts with net outflows from Bitcoin and Ethereum ETFs, suggesting that capital is flowing into altcoins, setting the stage for a potential rally.

Coinbase 分析师还观察到稳定币大量流入，过去一周新增了 13 亿美元。这与比特币和以太坊 ETF 的净流出形成鲜明对比，表明资本正在流入山寨币，为潜在的反弹奠定了基础。

However, it's important to note that the ETH/BTC ratio, which tracks Ethereum's performance relative to Bitcoin, has hit a record low of 0.31. This metric doesn't fully align with the anticipated altcoin momentum, as seen during previous altcoin seasons, where Ethereum typically outperformed Bitcoin to a greater extent.

然而，值得注意的是，追踪以太坊相对于比特币表现的 ETH/BTC 比率已创下 0.31 的历史新低。这一指标并不完全符合预期的山寨币势头，正如之前山寨币季节所见，以太坊通常在更大程度上优于比特币。

In summary, Coinbase's analysis suggests that traders are positioning themselves for a potential altcoin rally, supported by declining Bitcoin dominance and increased stablecoin inflows. While these indicators are suggestive, the performance of specific altcoins, such as Ethereum, relative to Bitcoin, will be a crucial factor to monitor in assessing the overall market dynamics.

总之，Coinbase 的分析表明，在比特币主导地位下降和稳定币流入增加的支持下，交易者正在为潜在的山寨币反弹做好准备。虽然这些指标具有启发性，但特定山寨币（例如以太坊）相对于比特币的表现将是评估整体市场动态时需要监控的关键因素。