比特币和山寨币在圣诞节前暴跌——这是一次修正还是更多？

加密货币市场的圣诞节前气氛突然被打乱：主要货币比特币陷入螺旋式下跌，交易量急剧下降

Bitcoin fell short of the $100,000 mark on Friday, while altcoins like Ethereum, Solana and Dogecoin dropped by 10 percent or more.

比特币周五跌破 10 万美元大关，而以太坊、Solana 和狗狗币等山寨币则下跌 10% 或更多。

Is this a correction after weeks of rallying or more?

这是经过数周或更长时间的上涨之后的修正吗？

The pre-Christmas mood on the crypto markets was abruptly disrupted: Bitcoin, the leading currency, fell into a downward spiral and was trading at around $95,000 on Friday morning – the series of new all-time highs of over $100,000 thus ended.

圣诞节前加密货币市场的气氛突然被打乱：主要货币比特币陷入螺旋式下跌，周五上午交易价格约为 95,000 美元——一系列超过 100,000 美元的历史新高就此结束。

Since yesterday evening, altcoins also fell one after the other, Ethereum (ETH) slipped 10 percent into the red, Solana (SOL) 14 percent, Dogecoin was down 17 percent on the day and Cardano (ADA) 14 percent.

自昨天晚上以来，山寨币也纷纷下跌，以太坊（ETH）当天下跌10%，Solana（SOL）下跌14%，狗狗币（Dogecoin）当天下跌17%，卡尔达诺（ADA）下跌14%。

Several reasons could have caused the surprising downturn:

有几个原因可能导致了令人惊讶的低迷：

– The decision of the US Federal Reserve to cut the key interest rate by 0.25 percent was expected and such interest rate cuts actually support the price curve of Bitcoin. But the Fed also indicated that inflation in the US remains a problem and that the key interest rate will not be reduced quickly in 2025. This macroeconomic outlook also pushed traditional stock markets slightly into the red, from which Bitcoin and Co. can rarely decouple.

– 美联储决定将关键利率下调0.25%是预料之中的，这样的降息实际上支撑了比特币的价格曲线。但美联储也表示，美国的通胀仍然是一个问题，2025年关键利率不会很快下调。这种宏观经济前景也让传统股市小幅下跌，比特币和公司很难脱钩。

– US altcoins Solana, Cardano and Dogecoin, Elon Musk’s favorite, had gained massively after Donald Trump’s election victory – profit-taking and possible overvaluation of ADA, SOL, DOGE and others are part of the puzzle.

– 埃隆·马斯克最喜欢的美国山寨币 Solana、Cardano 和 Dogecoin 在唐纳德·特朗普当选后大幅上涨 – ADA、SOL、DOGE 等的获利了结和可能的高估是谜题的一部分。

– Bitcoin ETFs in the US had a terrible day on Thursday. Data from SoSo shows that the streak of 15 trading days of uninterrupted capital inflow for Bitcoin ETFs came to an abrupt end. $680 million was withdrawn from Bitcoin ETFs in one day – a negative record since their debut in January.

– 美国的比特币 ETF 周四经历了糟糕的一天。 SoSo的数据显示，比特币ETF连续15个交易日资金不间断流入的局面戛然而止。比特币 ETF 一天内撤资 6.8 亿美元，这是自 1 月份推出以来的负记录。

– MicroStrategy’s aggressive strategy for Bitcoin purchases raises concerns about whether the MSTR share is still fairly valued or turns out to be a systemic risk for the BTC price development.

– MicroStrategy 积极的比特币购买策略引发了人们的担忧，即 MSTR 股票的估值是否仍然合理，或者是否会成为 BTC 价格发展的系统性风险。

– There are also considerable doubts as to whether the US government Bitcoin reserve promised by Donald Trump will become a reality – this plan, along with the Bitcoin ETFs, is considered to be the trigger for the recent Bitcoin boom.

– 对于唐纳德·特朗普承诺的美国政府比特币储备是否会成为现实也存在相当大的疑问 – 这一计划与比特币 ETF 一起被认为是近期比特币热潮的触发因素。

Conclusion: Difficult end of the year for Bitcoin and Co. – Crash feared

结论：比特币及其公司将迎来艰难的年底——担心崩盘

When analyzing the daily losses in Bitcoin’s price, it seems like a confluence of several factors got the ball rolling. The fact that altcoins from Ethereum to Solana to Dogecoin and Cardano are collapsing even more is no surprise, but rather underlines the status of BTC as a leading crypto currency.

在分析比特币价格的每日损失时，似乎是多个因素共同作用的结果。从以太坊、Solana、狗狗币和卡尔达诺等山寨币的崩溃幅度更大这一事实并不令人意外，而是凸显了 BTC 作为领先加密货币的地位。

By the way, we had an infographic in our program just yesterday that revolves around possible warning signs of a Bitcoin crash.

顺便说一句，昨天我们的程序中有一个信息图，围绕比特币崩盘的可能警告信号。

For the moment, investors and other market participants hope that the relative Bitcoin weakness can be interpreted as a price correction and not a sign of a negative series. But the period between Christmas and New Year is complicated, with traditional exchanges for Bitcoin ETFs being closed on many days. Nervousness today can turn into panic tomorrow – long-term Bitcoin investors are familiar with these dynamics and volatility. But they can also console themselves with the fact that Bitcoin has always returned stronger from such situations and that altcoins are riskier than BTC anyway.

目前，投资者和其他市场参与者希望比特币的相对疲软可以被解释为价格调整，而不是负面序列的迹象。但圣诞节和新年之间的时期很复杂，传统的比特币 ETF 交易所有很多天都关闭。今天的紧张明天可能会变成恐慌——长期比特币投资者熟悉这些动态和波动性。但他们也可以用这样的事实来安慰自己：比特币总是从这种情况中恢复得更强劲，而且山寨币无论如何都比比特币风险更大。

This article was first published on BlockBuilders. A third-party contributor translated and adapted it from the original article for readers of Born2Invest. In case of discrepancy, the original article will prevail.

本文首次发表在 BlockBuilders 上。第三方贡献者根据原始文章翻译并改编了该文章，供 Born2Invest 的读者使用。如有差异，以原文为准。

This article may contain forward-looking statements. Forward-looking statements are generally identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.

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