Crypto Market Experiences Sharp Decline Amidst Profit-Taking and Market Correction

加密貨幣市場在獲利回吐和市場調整中大幅下跌

Following a surge in value experienced by major altcoins after Bitcoin's recent spike above $89k, the cryptocurrency market has undergone a significant correction within the past 24 hours. Bitcoin's price dipped below $85.2k on Tuesday, causing the total market capitalization of cryptocurrencies to decrease by 3% to approximately $3.06 trillion during the early Asian session on Wednesday, November 13.

比特幣最近飆升至 8.9 萬美元以上後，主要山寨幣的價值大幅上漲，加密貨幣市場在過去 24 小時內經歷了大幅調整。週二，比特幣價格跌破 8.52 萬美元，導致 11 月 13 日週三亞洲早盤期間，加密貨幣總市值下降 3%，至約 3.06 兆美元。

Given the consensus that the broader crypto bull market is nearing its peak, it is advisable for traders to manage their risk accordingly and anticipate potential dips of 20-40%.

鑑於人們普遍認為更廣泛的加密貨幣牛市已接近頂峰，建議交易者相應地管理風險並預計潛在的下跌 20-40%。

Factors Contributing to the Crypto Selloff

導致加密貨幣拋售的因素

Leveraged Market Correction

槓桿市場調整

Over $2 billion worth of forced liquidations have occurred in the cryptocurrency market within the past three days. During the last 24 hours, approximately $928 million of these liquidations have impacted long-position traders amidst heightened volatility.

過去三天內，加密貨幣市場發生了價值超過 20 億美元的強制平倉。在過去 24 小時內，由於波動性加劇，這些清算中約 9.28 億美元對多頭交易者產生了影響。

As a result, the initial short squeeze has subsided significantly, with more traders opting for short-term corrections. On the Binance exchange, over 51% of leveraged traders hold short positions, indicating diminished optimism for a sustained market rally in the near future.

因此，最初的軋空局面已顯著消退，更多交易者選擇短期回調。在幣安交易所，超過 51% 的槓桿交易者持有空頭頭寸，這表明對近期市場持續反彈的樂觀情緒減弱。

Shift in Market Sentiment

市場情緒轉變

Initially, the victory of Donald Trump in the United States triggered a surge in Bitcoin's price, leading to a decline in fears of a crypto market capitulation. Subsequently, the Fear and Greed Index for Bitcoin and Ethereum surpassed 80%, reflecting excessive optimism within the market.

最初，唐納德·川普在美國的勝利引發了比特幣價格的飆升，導致人們對加密貨幣市場投降的擔憂下降。隨後，比特幣和以太坊的恐懼和貪婪指數都超過了80%，反映出市場內部過度樂觀。

Furthermore, US spot Bitcoin ETFs have experienced significant inflows of over $8.7 billion in the past four weeks. MicroStrategy recently announced a $2 billion purchase of Bitcoins, aiming to acquire a total of $42 billion worth.

此外，美國現貨比特幣 ETF 在過去 4 週內經歷了超過 87 億美元的大幅流入。 MicroStrategy 最近宣布斥資 20 億美元購買比特幣，目標是收購總價值 420 億美元的比特幣。

However, historical data indicates that the crypto market frequently experiences corrections when bullish sentiment reaches extreme levels.

然而，歷史數據表明，當看漲情緒達到極端水平時，加密貨幣市場經常會經歷調整。

Midterm Expectations

中期預期

Bitcoin

比特幣

Historical trends suggest that Bitcoin's dominance over altcoins will continue until early January 2025. Its support range is anticipated to be between $83,250 and $85,800, where a significant number of addresses have acquired Bitcoin.

歷史趨勢表明，比特幣相對於山寨幣的主導地位將持續到 2025 年 1 月初。

Altcoins

山寨幣

The altcoin market is expected to gain momentum following the recent bullish breakouts experienced by Dogecoin (DOGE), Solana (SOL), and Ethereum (ETH).

在狗狗幣 (DOGE)、Solana (SOL) 和以太坊 (ETH) 最近經歷看漲突破後，山寨幣市場預計將獲得動力。