Is 60/40 portfolio dead?

Could you elaborate on the notion that the traditional 60/40 portfolio allocation, consisting of 60% stocks and 40% bonds, may no longer be viable in today's financial landscape? With the rise of alternative investments, such as cryptocurrencies and other non-traditional assets, as well as the current low-interest-rate environment, is it time to reconsider the traditional approach to portfolio diversification? Are there any potential risks or benefits associated with shifting away from the 60/40 model?