突然的加密货币清算引发市场回调

过去24小时内，超过157,000名交易者面临清算，总价值超过4.8亿美元。

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.

过去 24 小时内发生了大量加密货币清算，导致超过 157,000 名交易者面临总计超过 4.8 亿美元的损失。

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%.

根据 Coinglass 的数据，大约 4 亿美元的杠杆加密货币头寸被消灭。此前，比特币连续 7 天上涨，期间下跌超过 5%。

Crypto Market Pulls Back on Sudden Liquidations

加密货币市场因突然清算而回落

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.

更广泛的加密市场市值下降了 7%，其中以太坊 (CRYPTO: ETH) 下跌了近 8%。最大的单笔清算发生在币安上。

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.

此次清算也恰逢美国10年期国债收益率突然上升。供应管理协会的数据显示，12 月份美国服务业增长强于预期。

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

这加剧了人们对持续通胀的担忧，因为较高的收益率往往会给包括加密货币在内的增长型风险资产带来压力。

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，未平仓合约水平也助长了清算浪潮。自昨天以来，比特币和以太坊的未平仓合约都损失了超过 10 亿美元，这表明市场正在大幅去杠杆化。

“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))

“自昨天局部高点以来，BTC 的未平仓合约已蒸发约 16 亿美元。 ETH 的未平仓合约也因此被冲掉了约 10 亿美元。看看这在短期内会如何发展将会很有趣。总体市场仍然波动，通常在年底和年初就会出现这种情况，”受欢迎的交易员和影响者 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.

一些分析师指出，今天的加密货币清算表明比特币将跌破 93,000 美元的支撑位并进入看跌周期。

“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.

“比特币正在重复其 8 年阻力模式。这条趋势线的每一次拒绝都会导致大规模的崩盘。预计会发生大崩盘，历史正在重演。我的 2025 年 #BTC 目标低于 30,000 美元，”Jacob King 在 X 上说道。

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，大多数分析师仍然看好比特币的前景。例如，Rekt Capital 预测清算将标志着新的四年周期的开始。

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

根据其预测，在预期的 2026 年熊市之前，价格可能会出现抛物线式上涨。

Economic Data, Federal Reserve Policy Impact

经济数据、美联储政策影响

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.

美国劳动力市场数据也可能导致今天的市场波动。 JOLT 职位空缺报告显示 11 月份职位空缺数为 809.8 万个，超出预期的 770 万个。

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.

强劲的劳动力市场可能会促使美联储维持较高利率的时间比预期更长，这意味着加密货币等风险资产面临更大压力。

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.

美联储最近暗示将进行第三次降息，但暗示 2025 年降息幅度会较小。从历史上看，降息有利于比特币价格，而加息则会产生相反的效果。

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

相关新闻中，今天的市场清算也影响了加密货币相关股票。 MicroStrategy（纳斯达克股票代码：MSTR）股价今日下跌 10%，反映出大盘低迷。

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%.

该公司在 2024 年一直在积极购买比特币，甚至在昨天购买了 2025 年的第一笔比特币。最大的比特币矿商马拉松数字控股公司（纳斯达克股票代码：MARA）的股价也下跌了 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%.

与此同时，并非所有资产都受到今天经济低迷的影响。 Bitget 代币（CRYPTO：BGB）今天逆势上涨超过 4%，使其 1 月份涨幅超过 10%。