加密貨幣衍生品市場見證了9.04億美元的清算活動，比特幣和其他主要資產有價值

在過去的24小時內，加密貨幣衍生品市場目睹了一項重大清算事件，因為比特幣和其他主要資產的價值暴跌。

The cryptocurrency derivatives market has witnessed a significant liquidation event in the past 24 hours, with massive losses as Bitcoin and other major assets have plummeted in value. Data from CoinGlass reveals that a substantial amount of positions were forcibly closed due to exceeding their liquidation thresholds, leading to widespread market turmoil.

在過去的24小時內，加密貨幣衍生品市場目睹了一項重大清算事件，因為比特幣和其他主要資產的價值暴跌。來自Coinglass的數據表明，由於超過其清算閾值，因此被強行關閉了大量職位，從而導致廣泛的市場動盪。

What Are Liquidations?

什麼是清算？

A position in the crypto market is considered “liquidated” when a trading platform forcibly closes it, usually due to the holder’s losses surpassing a pre-set threshold. This typically occurs when an investor has used leverage to amplify their positions. Leverage, essentially a loan against the initial investment, can increase potential profits but also amplifies losses, raising the risk of liquidation when market conditions move unfavorably.

當交易平台強行關閉時，加密市場中的位置通常被認為是“清算”的，這通常是由於持有人的損失超過了預設的閾值。通常，當投資者使用槓桿來擴大其頭寸時，這通常會發生。槓桿基本上是針對初始投資的貸款，可以增加潛在的利潤，但也會增加損失，從而在市場條件不利時增加清算風險。

In cryptocurrency markets, where price swings are notoriously volatile, such events happen with regularity. When assets experience high volatility, traders face significant risk, especially when using leverage. This can trigger what’s known as a “squeeze,” where large numbers of positions are liquidated in a short period.

在眾所周知，價格波動的加密貨幣市場中，這種事件是規律性發生的。當資產經歷高波動率時，交易者會面臨巨大的風險，尤其是在使用槓桿時。這可以觸發所謂的“擠壓”，在短時間內清算大量位置。

The Scale of Liquidations

清算規模

Over the past 24 hours, crypto markets have seen nearly $904 million in liquidations, with the majority of these coming from long contracts. Long positions are bets that the price of an asset will rise. The crash in Bitcoin and other major cryptocurrencies during this period led to heavy losses for those holding long positions.

在過去的24小時內，加密貨幣市場已有近9.04億美元的清算，其中大多數來自長期合同。長期以來，押注資產的價格將上漲。在此期間，比特幣和其他重大加密貨幣發生的墜機導致那些持有長位置的人造成了巨大的損失。

Out of the total liquidated value, approximately $811 million, or around 90%, were long positions. This is a stark reflection of how the recent downturn affected traders who were betting on rising prices. Bitcoin alone accounted for $261 million in liquidations, while Ethereum (ETH) followed with $113 million, and Solana (SOL) had $39 million.

在總清算價值中，大約8.11億美元（約90％左右）是長位置。這是對最近的低迷如何影響價格上漲的交易者的鮮明反映。僅比特幣就佔了2.61億美元的清算，而以太坊（ETH）則為1.13億美元，而Solana（Sol）（Sol）的售價為3900萬美元。

Interestingly, XRP, despite having a larger market cap than Solana, performed worse in terms of liquidations, likely due to a steeper price drawdown for the asset during the sell-off.

有趣的是，儘管XRP的市值比Solana更大，但在清算方面的表現較差，這可能是由於售罄期間資產的價格降低了。

The Role of Market Sentiment

市場情緒的作用

The recent sell-off and resulting squeeze can be attributed to several factors, including the overall volatility of the cryptocurrency market and the shifting sentiment among traders. While some of the liquidations were expected given the unpredictable nature of digital assets, market analysts are noting that the funding rate for long positions has not been as aggressive as it was in previous market rallies, such as the November to early December surge.

最近的拋售和由此產生的壓縮可以歸因於幾個因素，包括加密貨幣市場的總體波動和交易者之間的轉移情緒。鑑於數字資產的不可預測性質，預計某些清算是有預計的，但市場分析師指出，長期頭寸的籌資率並不像以前的市場集會（如11月至12月初的激增）那樣具有侵略性。

According to Glassnode’s analysis, the hourly funding rates for the top five cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE), indicate that traders are not as heavily invested in long positions as they were during earlier bullish periods. This suggests that the current downturn was not preceded by the same level of bullish optimism that typically precedes a market crash.

根據GlassNode的分析，前五名加密貨幣的每小時籌資率，包括比特幣（BTC），以太坊（ETH），Solana（Sol），XRP和Dogecoin（Doge），表明交易者並不那麼在長位上投入了很大的投資就像在看漲時期一樣。這表明，當前的衰退之前沒有以相同的看漲樂觀情緒，通常是在市場崩潰之前。

Bitcoin’s Price Action

比特幣的價格動作

At the time of writing, Bitcoin (BTC) is trading around $100,400, marking a decline of over 4% in the past week. The recent crash has affected not only Bitcoin but also other major cryptocurrencies, contributing to the massive liquidation event. With Bitcoin’s price falling further, it remains crucial to monitor the next key levels of support and resistance as traders evaluate their positions.

在撰寫本文時，比特幣（BTC）的交易約為100,400美元，在過去一周中下降了4％以上。最近的崩潰不僅影響了比特幣，而且影響了其他主要的加密貨幣，這導致了大規模清算事件。隨著比特幣的價格進一步下降，當交易者評估其頭寸時，監測下一個關鍵支持和抵抗的關鍵水平仍然至關重要。