Bitcoin Price Plunges, Triggering Market Decline

比特幣價格暴跌，引發市場下跌

The Bitcoin price has witnessed a sharp decline, approaching $96,000 and driving the market below its support levels. Concurrently, Ethereum has experienced an 8.97% drop, trading at $3,348. XRP and SOL have also incurred losses of 4.25% and 9.12%, respectively. Dogecoin and Cardano have faced significant pullbacks exceeding 10% and 9%, with other altcoins exhibiting similar downturns.

比特幣價格急劇下跌，接近 96,000 美元，導致市場跌破支撐位。同時，以太坊下跌 8.97%，交易價格為 3,348 美元。 XRP和SOL也分別損失了4.25%和9.12%。狗狗幣和卡爾達諾面臨超過 10% 和 9% 的大幅回調，其他山寨幣也出現了類似的下滑。

Despite a surge in global trading volume by over 33.12%, reaching $170 billion, the market capitalization has dropped to $3.36 trillion, representing a 6.38% decline.

儘管全球交易量激增超過33.12%，達到1,700億美元，但市值卻下降至3.36兆美元，下降了6.38%。

Factors Influencing the Crypto Market Plunge

影響加密貨幣市場暴跌的因素

Two key events loom on the horizon: the ADP Nonfarm Employment report and the FOMC meeting minutes. While ADP provides an early glimpse into the health of the labor market, the FOMC minutes offer insights into the Federal Reserve's stance on interest rates, which can significantly impact the Bitcoin price.

即將發生的兩個關鍵事件：ADP 非農業就業報告和 FOMC 會議記錄。雖然 ADP 讓我們初步了解勞動市場的健康狀況，但 FOMC 會議記錄可以讓我們深入了解聯準會的利率立場，這可能會對比特幣價格產生重大影響。

Current Market Conditions and Future Outlook

目前的市場狀況與未來展望

Liquidations have surged, peaking at $558 million in the long term, with Bitcoin accounting for almost $100 million. The pressure remains unabated, with resistance encountered on both sides.

清算量激增，長期來看達到 5.58 億美元的峰值，其中比特幣佔近 1 億美元。壓力有增無減，雙方都遭遇阻力。

A liquidation heatmap from Coinglass indicates that short positions are being established at strategic levels. If the Bitcoin price rallies to $98,600, over $35 million will be liquidated, while a recovery above $103,300 would trigger liquidations of over $66 million. This suggests a level of pessimism among traders or uncertainty regarding the sustainability of the rally.

Coinglass 的清算熱圖表明，正在戰略層面建立空頭部位。如果比特幣價格上漲至 98,600 美元，則超過 3,500 萬美元將被清算，而恢復至 103,300 美元以上將引發超過 6,600 萬美元的清算。這表明交易者存在一定程度的悲觀情緒或對漲勢可持續性的不確定性。

Despite these corrections, certain altcoins, including XRP, XLM, and BNB, have demonstrated resilience, hinting at a possible rebound in the near future. Meanwhile, Bitcoin's dominance remains within a narrow range, indicating the potential for an altseason on the horizon.

儘管進行了這些調整，包括 XRP、XLM 和 BNB 在內的某些山寨幣仍表現出了彈性，暗示在不久的將來可能會反彈。與此同時，比特幣的主導地位仍處於狹窄範圍內，這表明山寨幣季節即將到來。