突然的加密貨幣清算引發市場回調

過去24小時內，超過157,000名交易者面臨清算，總價值超過4.8億美元。

Heavy crypto liquidations occurred over the past 24 hours, amounting to more than 157,000 traders facing a total of over $480 million in losses.

過去 24 小時內發生了大量加密貨幣清算，導致超過 157,000 名交易者面臨總計超過 4.8 億美元的損失。

According to data from Coinglass, roughly $400 million in leveraged crypto positions were wiped out. The development follows seven consecutive days of gains for Bitcoin, during which it dropped over 5%.

根據 Coinglass 的數據，大約 4 億美元的槓桿加密貨幣部位被消滅。此前，比特幣連續 7 天上漲，期間下跌超過 5%。

Crypto Market Pulls Back on Sudden Liquidations

加密貨幣市場因突然清算而回落

The broader crypto market saw its market cap fall by 7%, with Ethereum (CRYPTO: ETH) declining nearly 8%. The largest single liquidation occurred on Binance.

更廣泛的加密市場市值下跌了 7%，其中以太幣（CRYPTO: ETH）下跌了近 8%。最大的單筆清算發生在幣安上。

The liquidations also coincided with a sudden rise in the 10-year U.S. Treasury yield. Data from the Institute for Supply Management revealed stronger-than-expected growth in the U.S. services sector during December.

此次清算也恰逢美國10年期公債殖利率突然上升。供應管理協會的數據顯示，12 月美國服務業成長強於預期。

This intensified concerns about persistent inflation, as higher yields often pressure growth-oriented risk assets, including cryptocurrencies.

這加劇了人們對持續通膨的擔憂，因為較高的收益率往往會對包括加密貨幣在內的成長型風險資產造成壓力。

Furthermore, open interest levels also contributed to the wave of liquidations. Both Bitcoin and Ethereum have lost over $1 billion in open interest since yesterday, signaling significant deleveraging in the market.

此外，未平倉合約水準也助長了清算浪潮。自昨天以來，比特幣和以太坊的未平倉合約都損失了超過 10 億美元，這表明市場正在大幅去槓桿化。

“BTC About $1.6 billion in Open Interest wiped out since the local high yesterday. ETH also saw about $1 billion in Open Interest get rinsed out on this move. Going to be interesting seeing how this plays out in the short term. Overall market still remains choppy which is usually the case near the end and start of the year,” said Daan, a popular trader and influencer, on X (NYSE:SQ) (formerly Twitter (NYSE:TWTR))

「自昨天局部高點以來，BTC 的未平倉合約已蒸發約 16 億美元。 ETH 的未平倉合約也因此被沖掉了約 10 億美元。看看這在短期內會如何發展將會很有趣。整體市場仍然波動，通常是在年底和年初的情況，」受歡迎的交易員和影響者 Daan 在 X (NYSE:SQ)（原 Twitter (NYSE:TWTR)）上表示

Some analysts are pointing to today’s crypto liquidation as an indicator that Bitcoin will fall below its $93,000 support level and enter a bearish cycle.

一些分析師指出，今天的加密貨幣清算表明比特幣將跌破 93,000 美元的支撐位並進入看跌週期。

“Bitcoin is repeating its 8-year resistance pattern. Every rejection at this trendline has led to massive crashes. Expect a big crash, History’s repeating. My 2025 #BTC targets are below $30,000,” said Jacob King on X.

「比特幣正在重複其 8 年阻力模式。這條趨勢線的每一次拒絕都會導致大規模的崩盤。預計會發生大崩盤，歷史正在重演。我的 2025 年 #BTC 目標低於 30,000 美元，」Jacob King 在 X 上說道。

However, most analysts maintain a bullish outlook for Bitcoin. For instance, Rekt Capital predicts that liquidations will mark the start of a new four-year cycle.

然而，大多數分析師仍然看好比特幣的前景。例如，Rekt Capital 預測清算將標誌著新的四年周期的開始。

According to its projection, a parabolic price increase may occur before the anticipated 2026 bear market.

根據其預測，在預期的 2026 年熊市之前，價格可能會出現拋物線式上漲。

Economic Data, Federal Reserve Policy Impact

經濟數據、聯準會政策影響

U.S. labor market data also potentially contributed to today’s market volatility. The JOLTs Job Openings report revealed 8.098 million vacancies in November, which exceeded the 7.70 million forecast.

美國勞動市場數據也可能導致今天的市場波動。 JOLT 職缺報告顯示 11 月職缺數為 809.8 萬個，超出預期的 770 萬個。

A strong labor market could prompt the Federal Reserve to maintain higher interest rates longer than expected, which would mean more pressure on risk assets like cryptocurrencies.

強勁的勞動力市場可能會促使聯準會維持較高利率的時間比預期更長，這意味著加密貨幣等風險資產面臨更大壓力。

The Federal Reserve recently signaled a third rate cut but hinted at fewer reductions in 2025. Historically, rate cuts have benefited Bitcoin prices, while rate hikes have had the opposite effect.

聯準會最近暗示第三次降息，但暗示 2025 年降息幅度較小。

In related news, today’s market liquidations also impacted crypto-related stocks. MicroStrategy (NASDAQ:MSTR) stock dropped 10% today, reflecting the broader market downturn.

相關新聞中，今天的市場清算也影響了加密貨幣相關股票。 MicroStrategy（納斯達克股票代碼：MSTR）股價今日下跌 10%，反映大盤低迷。

The company has been aggressively purchasing Bitcoin throughout 2024, even making its first BTC purchase of 2025 yesterday. Marathon Digital Holdings (NASDAQ:MARA), the largest Bitcoin miner, also saw its stock price fall by 5%.

該公司在 2024 年一直在積極購買比特幣，甚至在昨天購買了 2025 年的第一筆比特幣。最大的比特幣礦商馬拉松數位控股公司（NASDAQ：MARA）的股價也下跌了 5%。

Meanwhile, not all assets have been affected by today’s downturn. The Bitget token (CRYPTO: BGB) defied the trend with gains of over 4% today, bringing its January rally to more than 10%.

同時，並非所有資產都受到今天經濟低迷的影響。 Bitget 代幣（CRYPTO：BGB）今天逆勢上漲超過 4%，使其 1 月漲幅超過 10%。