#山寨季何时到来

As of May 2025, the market is in a Bitcoin-dominated phase and has not fully entered the Altcoin Season, but there are preliminary signs that funds may start to shift towards altcoins.

📊 Key Market Indicators Overview

1. Bitcoin Dominance

Currently, Bitcoin accounts for 63.89% of the total cryptocurrency market capitalization, slightly down from previous highs but still dominant.

2. Altcoin Season Index

According to CoinMarketCap data, the Altcoin Season Index is currently at 30, below the 75 points threshold required to enter Altcoin Season, indicating the market still leans towards Bitcoin.

3. ETH/BTC Exchange Rate

The exchange rate of Ethereum to Bitcoin rose from 0.0187 to 0.0229 at the beginning of May, showing that Ethereum has strengthened relative to Bitcoin, potentially signaling that funds may start flowing into altcoins.

🔍 Market Observations and Future Possibilities

Although we have not yet fully entered Altcoin Season, the following factors may drive the market towards altcoins:

Capital Rotation: Bitcoin's price has consolidated after breaking through $100,000, and some funds may start seeking other investment opportunities.

Technical Upgrade: Ethereum's upcoming Pectra upgrade may enhance its network performance, attracting more investor interest.

Market Sentiment: As altcoin prices rebound, market sentiment may gradually turn optimistic, further boosting altcoin performance.

✅ Conclusion

The market has not yet entered a typical Altcoin Season, but preliminary signs indicate that funds may start shifting towards altcoins. It is recommended to closely monitor the following indicators to determine if we have entered Altcoin Season:

Whether Bitcoin dominance continues to decline

Whether the Altcoin Season Index breaks above 75

Whether the exchange rates of major altcoins against Bitcoin continue to rise