2025年3月29日的以太坊清算事件：验尸后

加密货币的数字领域通常被称为分散的金融和技术创新的堡垒，在2025年3月29日星期五经历了地震震颤。

The digital realm of cryptocurrency, often lauded for its decentralized brilliance and technological prowess, was rocked on Friday, March 29, 2025, by a seismic tremor that began at the second-largest cryptocurrency - Ethereum.

加密货币的数字领域经常因其去中心的光彩和技术才能而受到称赞，于2025年3月29日星期五因地震震颤而震撼，该地震震颤始于第二大加密货币 - 以太坊。

Its price fall below the $1,890 threshold sparked a staggering $450 million liquidation event across the crypto sphere. This dramatic downturn, triggered by a confluence of factors including newly announced tariffs, served as a stark reminder of the inherent volatility and susceptibility to macroeconomic forces that characterize the cryptocurrency market.

它的价格低于1,890美元的门槛，在加密货币领域引发了一场惊人的4.5亿美元清算活动。这种巨大的衰退是由包括新宣布的关税在内的各种因素引发的，这引起了人们对宏观经济力量的固有波动和易感性的明显提醒，这些力量是加密货币市场的特征。

A Swift Descent from Bullish Heights:

来自看涨高度的迅速下降：

Just days prior, Ethereum had been scaling bullish heights of $2,100, buoyed by optimistic market sentiment and tangible developments within its ecosystem. The announcement by WLFI, a venture backed by the individual who formerly occupied the oval office, of its intention to launch a stablecoin on both the Ethereum and BNB chains, served as a catalyst, infusing the market with renewed vigor.

就在几天前，以太坊一直将看涨的高度扩大到2,100美元，并受到乐观的市场情绪和生态系统中有形的发展的鼓舞。 WLFI的宣布是由以前占领椭圆形办公室的个人支持的一家企业，其意图在以太坊和BNB连锁店上发射稳定的股份，并用作催化剂，并为市场注入了新的活力。

Similarly, the successful deployment of the Pectra upgrade, a significant enhancement to the Ethereum network, further fueled positive expectations.

同样，pectra升级的成功部署是对以太坊网络的重大增强，进一步加剧了积极的期望。

However, the tide turned abruptly. The announcement of new tariffs acted as a sledgehammer against investor confidence. The broader financial markets reacted with palpable anxiety, and the cryptocurrency sector, known for its heightened sensitivity to external cues, was not spared.

但是，潮流突然转向。新关税的宣布是反对投资者信心的大锤。更广泛的金融市场对明显的焦虑产生了反应，而以对外部提示的敏感性提高而闻名的加密货币行业并没有幸免。

Ethereum, in particular, suffered a precipitous decline, losing 6% of its value in a matter of hours, and testing lows of $1,870 before a slight recovery to $1,895.

尤其是以太坊急剧下降，在几个小时内损失了其价值的6％，并在略微恢复至1,895美元之前，测试了1,870美元的低点。

The Anatomy of a Liquidation:

清算的解剖结构：

The statistics from Coinglass, a platform that tracks cryptocurrency liquidations, presented a stark picture - a total of $449.89 million was liquidated in 24 hours.

跟踪加密货币清算的平台Coinglass的统计数据显示了一幅鲜明的情况 - 在24小时内清算了4.4989亿美元。

Ethereum bore the brunt of these liquidations, with $136.21 million liquidated from the token in the 24 hours to 06:00 CET. This staggering figure underscored the aggressive leverage that many traders employ, and the swiftness with which fortunes can be reversed in the volatile crypto arena.

以太坊首当其冲，在24小时内从令牌上清算了1.3621亿美元，至CET 06:00。这个惊人的人物强调了许多交易者所采用的积极杠杆作用，以及在挥发性的加密竞技场中逆转命运的迅速。

Among other major cryptocurrencies, Bitcoin faced significant liquidations to the tune of $116.56 million, while XRP saw $24.86 million liquidated. Solana, another prominent layer-1 altcoin, also faced a substantial $17.28 million in liquidations.

在其他主要的加密货币中，比特币面临着大量清算，达到1.165亿美元，而XRP则销售了2486万美元。另一位著名的1层Altcoin Solana也面临着1728万美元的清算。

These synchronized declines across major cryptocurrencies highlighted the interconnectedness of the market and its susceptibility to external pressures.

这些同步的主要加密货币下降强调了市场的相互联系及其对外部压力的敏感性。

The Role of Tariffs and Macroeconomic Uncertainty:

关税和宏观经济不确定性的作用：

The announcement of new tariffs played a primary role in driving the market downturn. The specific details of these tariffs, the sectors they targeted, and the anticipated impact on global trade dynamics contributed to a climate of uncertainty. This, in turn, prompted investors to reduce their exposure to riskier assets, such as those in the cryptocurrency market.

新关税的宣布在推动市场低迷方面发挥了主要作用。这些关税的具体细节，他们针对的部门以及对全球贸易动态的预期影响导致了不确定性的气氛。反过来，这促使投资者减少其风险较高的资产，例如加密货币市场的资产。

The cryptocurrency sector is often viewed as a high-risk, high-reward investment class. While it has attracted significant interest from both institutional and retail investors in recent years, it remains highly sensitive to shifts in macroeconomic sentiment. This sensitivity is amplified by the inherent volatility of digital assets and the speculative nature of much of the trading activity.

加密货币部门通常被视为高风险，高回报的投资类别。尽管近年来，它引起了机构和散户投资者的重大兴趣，但它仍然对宏观经济情绪的转变仍然很敏感。数字资产的固有波动和大部分交易活动的投机性质可以放大这种敏感性。

In addition to the tariffs, the broader macroeconomic picture also contributed to the market’s unease. Concerns about inflation, interest rate hikes, and potential economic slowdowns created a backdrop of uncertainty that further eroded investor confidence. The cryptocurrency market, which is largely driven by risk appetite, reacted accordingly.

除了关税外，更广泛的宏观经济情况也导致了市场的不安。对通货膨胀，利率上升和潜在经济放缓的担忧产生了不确定性的背景，进一步侵蚀了投资者的信心。加密货币市场在很大程度上是由风险食欲驱动的，对此做出了相应的反应。

The Fallout and Implications:

影响和含义：

The liquidation event had several implications for the cryptocurrency market. It served as a stark reminder of the importance of risk management, especially for traders who employ leverage. The swiftness and magnitude of the losses highlighted the dangers of over-leveraging and the potential for rapid market reversals.

清算事件对加密货币市场有几个影响。它醒目地提醒了风险管理的重要性，尤其是对于使用杠杆的交易者而言。损失的迅速和幅度强调了过度杠杆作用的危险以及快速市场逆转的潜力。

It also underscored the interconnectedness of the cryptocurrency market with broader financial markets. The response to the tariff announcement demonstrated how external factors can quickly impact the digital asset space, challenging the notion of cryptocurrency as an isolated, independent entity.

它还强调了加密货币市场与更广泛的金融市场的相互联系。对关税公告的反应表明，外部因素如何迅速影响数字资产空间，从而挑战了加密货币作为一个孤立的独立实体的概念。

Furthermore, it served as a reality check for the Ethereum community. While the network has made significant strides in terms of technological development and adoption, it remains vulnerable to market forces and investor sentiment. The plunge below $1,900 raised questions about the sustainability of Ethereum’s recent gains and the potential for further downside risk.

此外，它是以太坊社区的现实检查。尽管该网络在技术发展和采用方面取得了长足的进步，但它仍然容易受到市场力量和投资者情绪的影响。低于$ 1,900的跌幅提出了有关以太坊最近收益的可持续性以及进一步下行风险的潜力的问题。

Ethereum’s Resilience Tested:

以太坊的弹性测试了：

Despite the dramatic downturn, Ethereum demonstrated a degree of resilience, recovering slightly to trade around $1,895 by 07:05 CET, showing resilience in the face of selling pressure. However, the accompanying rise in trading volume suggested that the market was still on edge, with the potential for further selling in the coming sessions.

尽管下滑了巨大的衰退，但以太坊表现出了一定程度的韧性，在07:05 CET到1,895美元的交易略微恢复了，面对销售压力，表现出弹性。但是，随附的交易量增加表明，市场仍处于边缘状态，并有可能在即将到来的会议上进一步销售。

The long-term outlook for Ethereum remained uncertain. The network’s fundamental strengths, including its robust ecosystem, active developer community, and the ongoing transition to a more scalable and sustainable architecture, continued to

以太坊的长期前景仍然不确定。该网络的基本优势，包括其强大的生态系统，活跃的开发人员社区以及持续过渡到更可扩展和可持续的建筑的持续过渡