比特幣（BTC）價格下跌，為加密貨幣市場帶來衝擊

最近比特幣（BTC）價格的下跌給先前看漲情緒強勁的加密貨幣市場帶來了衝擊。

Bitcoin’s (BTC) price dropped nearly 4% over the past 24 hours, falling from $72,500 to a level just above $69,000. This correction contributed to an overall market crash, which saw its total capitalization decline by 5.5%.

比特幣 (BTC) 的價格在過去 24 小時內下跌了近 4%，從 72,500 美元跌至略高於 69,000 美元的水平。此次調整導致整體市場崩盤，總市值下降 5.5%。

According to CoinGlass reports, the impact on the market was substantial, with over $270 million in bullish bets being liquidated. An important factor that influenced this movement was the Fear and Greed Index, a tool that measures emotions and volatility in the cryptocurrency market.

據 CoinGlass 報告稱，這起事件對市場影響巨大，超過 2.7 億美元的看漲押注被清算。影響這項運動的一個重要因素是恐懼和貪婪指數，這是一種衡量加密貨幣市場情緒和波動性的工具。

The index hit “extreme greed” levels on Thursday, an indicator that has proven to be a harbinger of corrections in the past. As the index moved into a “greed” mood on Friday, concerns arose about a possible further correction in prices. This dynamic highlights the volatile nature of cryptocurrency markets, where investor psychology plays a crucial role.

該指數週四觸及「極度貪婪」水平，這一指標在過去已被證明是回檔的先兆。隨著週五該指數進入「貪婪」情緒，人們開始擔心價格可能會進一步調整。這種動態凸顯了加密貨幣市場的波動性，而投資者心理在其中扮演著至關重要的角色。

The pressure on futures traders was considerable. Liquidations of long positions, especially in Bitcoin futures contracts, totaled $88 million, while other assets such as Ethereum, Solana and Dogecoin also suffered significant losses.

期貨交易商面臨的壓力相當大。多頭部位（尤其是比特幣期貨合約）的清算總額達 8,800 萬美元，而以太幣、Solana 和狗狗幣等其他資產也遭受了重大損失。

The fact that nearly 90% of all futures bets were bullish indicates that the market had adopted an optimistic approach ahead of the US elections on November 5, further fueling expectations of a price rebound.

近 90% 的期貨押注都是看漲的，這表明市場在 11 月 5 日美國大選之前採取了樂觀態度，進一步加劇了價格反彈的預期。

Persistent Volatility in the Market

市場持續波動

Open interest in Bitcoin futures had hit record highs, surpassing $43 billion, although by early Friday this amount had fallen to just over $41 billion. These types of fluctuations in open interest are common in a volatile market environment like the current one, where large sell-offs can be a sign of extremes in market psychology.

比特幣期貨的未平倉部位創下歷史新高，超過 430 億美元，儘管到週五早些時候這一數字已降至略高於 410 億美元。在像當前這樣的動盪市場環境中，此類未平倉合約波動很常見，大規模拋售可能是市場心理極端的跡象。

The cascade of liquidations not only represents losses for the affected traders, but could also be an indication of a turning point in the market. Analysts warn that a series of sell-offs often precedes a reversal in price trends. This can be interpreted as an exaggerated market response to changes in investor confidence.

一連串的清算不僅代表受影響交易者的損失，也可能預示著市場的轉折點。分析師警告稱，價格趨勢逆轉之前往往會出現一系列拋售。這可以解釋為市場對投資者信心變化的誇大反應。

As the election approaches, traders should keep a constant watch on market signals as the political climate and global monetary policies could significantly influence the future direction of cryptocurrency prices.

隨著選舉的臨近，交易者應持續關注市場訊號，因為政治氣候和全球貨幣政策可能會顯著影響加密貨幣價格的未來方向。