强于预期的美国经济数据给数字资产的势头泼了一盆冷水，比特币 (BTC) 下跌 10 万美元

美国劳工统计局 11 月份 JOLTS 职位空缺意外从上月的 780 万增至 810 万，轻松超过分析师

Bitcoin (BTC) price dropped below the crucial $100,000 level on Tuesday morning U.S. time as two key economic data points from the U.S. came in stronger than expected, denting digital assets’ recent strong early-year momentum.

美国时间周二上午，比特币 (BTC) 价格跌破 10 万美元关键水平，因美国的两个关键经济数据强于预期，削弱了数字资产近期强劲的年初势头。

The Bureau of Labor Statistics’ JOLTS job openings for November unexpectedly rose to 8.1 million from 7.8 million the month before, easily beating analyst estimates for a decline to 7.7 million.

美国劳工统计局公布的 11 月份 JOLTS 职位空缺意外地从上个月的 780 万个上升至 810 万个，轻松超过了分析师预期的下降至 770 万个。

Also released at the top of the hour, the ISM Services Purchasing Managers Index, a monthly measure of the level of economic activity in the services sector, came in at 54.1 for December, above expectations for 53.3 and a solid improvement on November's 52.1. The Prices Paid subindex hit a fresh multi-month high of 64.4, well above the anticipated 57.5 and 58.2 in the previous month.

同样在当天上午发布的 ISM 服务业采购经理指数（衡量服务业经济活动水平的月度指标）12 月份为 54.1，高于预期的 53.3，较 11 月份的 52.1 大幅改善。支付价格分类指数触及数月新高 64.4，远高于上个月预期的 57.5 和 58.2。

While neither report is typically a major market mover, combined they shook up an already jittery bond market, sending the 10-year U.S. Treasury yield higher by another five basis points to 4.68%, within a few ticks of multi-year highs. The move dragged U.S. stocks lower, with the Nasdaq now down over 1% in late morning trade and the S&P 500 lower by 0.4%.

虽然这两份报告通常都不是主要的市场推动者，但它们结合起来震动了本已紧张的债券市场，导致 10 年期美国国债收益率再上涨 5 个基点，至 4.68%，距离多年高点仅几步之遥。此举拖累美国股市走低，纳斯达克指数早盘尾盘下跌超过 1%，标准普尔 500 指数下跌 0.4%。

BTC, which was trading just below $101,000 into European afternoon hours, dropped to $97,800 following the data, giving up yesterday's gains and falling 4% over the past 24 hours. Major altcoins declined even more with Ethereum's ether (ETH) and Solana's SOL dropping 6%-7%, while Avalanche's AVAX and Chainlink's LINK both tumbled 8%-9%.

数据公布后，BTC 的交易价格略低于 101,000 美元，在数据公布后跌至 97,800 美元，回吐了昨天的涨幅，并在过去 24 小时内下跌了 4%。主要山寨币跌幅更大，以太坊的以太币 (ETH) 和 Solana 的 SOL 下跌 6%-7%，而 Avalanche 的 AVAX 和 Chainlink 的 LINK 均下跌 8%-9%。

The rapid price decline liquidated nearly $300 million in long positions across derivatives markets betting on rising prices, according to CoinGlass, marking the first large leverage flush of the year.

根据 CoinGlass 的数据，价格的快速下跌平仓了衍生品市场上近 3 亿美元的多头头寸，押注价格上涨，这标志着今年首次大规模杠杆冲刷。

The strong data also had investors further rolling back their expectations of rate cuts in 2025.

强劲的数据也让投资者进一步下调了2025年降息的预期。

While market participants had already priced out any chance of a rate cut at the Fed's January meeting, they now see just a 37% chance of an easing move at the central bank's March meeting, down from nearly 50% just a week ago, according to the CME FedWatch tool. Looking out even further, the odds of a rate cut in May are also now well below 50%. Scanning all of 2025, Ballinger Group's Kyle Chapman noted investors are now only pricing in roughly one 25 basis point rate cut for the entire year.

尽管市场参与者已经排除了美联储 1 月会议上降息的可能性，但他们现在认为美联储 3 月会议上采取宽松举措的可能性仅为 37%，低于一周前的近 50%。芝商所 FedWatch 工具。更进一步来看，5 月份降息的可能性目前也远低于 50%。纵观 2025 年全年，Ballinger Group 的凯尔·查普曼 (Kyle Chapman) 指出，投资者目前仅预计全年降息约 25 个基点。