#山寨季何时到来

Bitcoin's Dominance - its share of the total market capitalization of cryptocurrencies - has hovered around 60% during 2024-2025, a level not seen since the bull market of 2017. This dominance reflects the market's preference for Bitcoin, due to its stability and widespread institutional adoption.

Institutional Attention: Bitcoin ETFs approved at the end of 2023 and early 2024 attracted billions of dollars in inflows to BTC, making it a 'safe-haven asset' in the crypto market. Large institutions like BlackRock and Fidelity prioritize Bitcoin, ignoring altcoins.

Halving Effect: The 2024 Bitcoin halving event reinforces its scarcity narrative, attracting funds that might have flowed into riskier altcoins.

As analyst Benjamin Cowen pointed out, 'Altcoins typically start to rise only after Bitcoin completes its parabolic ascent.' With BTC still setting new highs, investors have no reason to turn to altcoins.