Crypto Markets Experience Turmoil, Mass Liquidations Impact Traders

加密貨幣市場經歷動盪，大規模清算影響交易者

The crypto markets have witnessed significant volatility in the past 24 hours, resulting in mass liquidations affecting over 100,000 traders. Bitcoin (BTC) briefly dipped below $60,000 on October 3 before recovering and surpassing $61,000. The world's leading cryptocurrency remains above the $61,000 mark.

在過去 24 小時內，加密貨幣市場出現大幅波動，導致大規模清算，影響超過 10 萬名交易者。比特幣 (BTC) 於 10 月 3 日短暫跌破 60,000 美元，隨後回升並突破 61,000 美元。全球領先的加密貨幣仍維持在 61,000 美元大關之上。

Most major cryptocurrencies, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and Dogecoin (DOGE), have remained in the red. As a consequence, the crypto market capitalization has declined to $2.12 trillion. Additionally, outflows from spot Bitcoin ETFs have persisted.

大多數主要加密貨幣，包括以太幣 (ETH)、Solana (SOL)、Ripple (XRP) 和 Dogecoin (DOGE) 仍處於虧損狀態。因此，加密貨幣市值已降至 2.12 兆美元。此外，現貨比特幣 ETF 的資金外流持續存在。

Crypto Market Liquidations Surge

加密貨幣市場清算激增

Bitcoin (BTC) is trading just above the $61,000 mark, having experienced a significant decline from the $65,000 levels of the weekend. The sharp price drop in BTC and the broader crypto market has triggered a wave of liquidations, with positions worth $295 million being closed over the past 24 hours. Of these, $246 million occurred in long positions, indicating traders' expectations of price increases. BTC alone saw almost $45 million in long positions liquidated, affecting over 10,000 traders.

比特幣 (BTC) 的交易價格略高於 61,000 美元大關，較週末的 65,000 美元水準大幅下跌。 BTC 和更廣泛的加密市場價格大幅下跌引發了一波清算浪潮，過去 24 小時內價值 2.95 億美元的部位被平倉。其中，2.46 億美元為多頭頭寸，顯示交易者對價格上漲的預期。光是 BTC 就有近 4,500 萬美元的多頭部位被清算，影響了超過 10,000 名交易者。

Amidst market volatility, traders have flocked to stablecoins to preserve their capital, with major stablecoins witnessing a surge in volume. Out of the $121 billion in global trading volume, $88.3 billion was concentrated in stablecoins. This suggests traders are seeking less volatile assets like stablecoins to protect their funds.

在市場波動的情況下，交易者紛紛湧向穩定幣以保本，主要穩定幣的交易量激增。在 1,210 億美元的全球交易量中，883 億美元集中在穩定幣上。這表明交易者正在尋求穩定幣等波動性較小的資產來保護他們的資金。

Geopolitical Factors Influence Volatility

地緣政治因素影響波動性

The escalating Middle East conflict has contributed to volatility in global markets, including crypto. Uncertainty has fueled increased trading activity and price fluctuations. It has also highlighted Bitcoin's reputation as "digital gold," potentially serving as a hedge against market turbulence during geopolitical uncertainties. Some investors have sought refuge in BTC, while others have retreated, perceiving it as too speculative and high-risk.

不斷升級的中東衝突加劇了包括加密貨幣在內的全球市場的波動。不確定性加劇了交易活動和價格波動。它也凸顯了比特幣作為「數位黃金」的聲譽，有可能在地緣政治不確定性期間作為對沖市場動盪的工具。一些投資者轉向比特幣尋求庇護，而另一些投資者則撤退，認為比特幣投機性太強且風險過高。

Binance Market Share Declines

幣安市佔率下降

Binance, the world's largest cryptocurrency exchange, has seen its market share dwindle to 2020 levels as increased competition has allowed rivals to acquire a significant portion of users and trading volume. According to a report by CCData, Binance's spot and derivatives trading volumes have dropped by 23% and 21%, respectively, with centralized exchange activity reporting a decline. Data indicates a 17% reduction in centralized exchange trading volumes in September, a historically challenging month for trading assets. Binance now holds a 27% market share in spot trading and a 40% share in the derivatives market.

全球最大的加密貨幣交易所幣安的市場份額已縮減至 2020 年的水平，因為競爭加劇使得競爭對手獲得了大量用戶和交易量。根據 CCData 的報告，幣安的現貨和衍生性商品交易量分別下降了 23% 和 21%，中心化交易所活動也有所下降。數據顯示，9 月中心化交易所交易量減少了 17%，這對資產交易來說是一個歷史上充滿挑戰的月份。幣安目前在現貨交易市場佔有 27% 的市場份額，在衍生性商品市場佔有 40% 的份額。

Spot Bitcoin ETFs Continue to Witness Outflows

現貨比特幣 ETF 持續出現資金外流

Spot Bitcoin ETFs experienced outflows on Thursday, totaling $54 million. Cumulative outflows over the past three days have reached $388 million, underscoring market bearishness. While ARKB faced significant outflows, BlackRock's IBIT and Bitwise's BITB registered inflows. The daily trading volume of spot Bitcoin ETFs also fell from $1.66 billion to $1.13 billion.

現貨比特幣 ETF 週四出現資金流出，資金總額達 5,400 萬美元。過去三天累計資金流出已達3.88億美元，凸顯了市場的悲觀情緒。雖然 ARKB 面臨大量資金流出，但 BlackRock 的 IBIT 和 Bitwise 的 BITB 卻出現了資金流入。現貨比特幣ETF的每日交易量也從16.6億美元降至11.3億美元。

Spot Ethereum ETFs also experienced net outflows of $3.2 million, with Grayscale's ETHE seeing the largest. However, BlackRock's ETHA offset some losses with net inflows worth $12 million.

現貨以太坊 ETF 也經歷了 320 萬美元的淨流出，其中 Grayscale 的 ETHE 淨流出最多。然而，貝萊德的 ETHA 以 1200 萬美元的淨流入抵消了部分損失。

Bitcoin (BTC) Price Analysis

比特幣（BTC）價格分析

Bitcoin (BTC) has recovered slightly after dropping to a low of $59,904 on Thursday, as buyers entered the market at the $60,000 level. Markets have experienced mass liquidations, affecting investors, with market observers hoping BTC can end the bearish week on a positive note. As observed in the price chart, BTC surpassed $66,000 on Saturday, reaching a daily high of $66,271. However, strong resistance at this level caused a decline back into the red on Sunday, resulting in a marginal drop and a negative close to a bullish week. The current week began with bearish sentiment intensifying as BTC fell by 3.45%, slipping below $65,000, and the 200-day SMA settled at $63,367.

比特幣 (BTC) 在周四跌至 59,904 美元低點後略有回升，買家在 60,000 美元水平入市。市場經歷了大規模清算，影響了投資者，市場觀察家希望比特幣能夠以積極的方式結束看跌的一周。從價格圖表中可以看出，BTC 週六突破了 66,000 美元，達到每日高點 66,271 美元。然而，該水平的強勁阻力導致周日跌回紅色，導緻小幅下跌並以負面收盤看漲週。本週開始，看跌情緒加劇，BTC 下跌 3.45%，跌破 65,000 美元，200 日移動均線收在 63,367 美元。

Markets panicked on Tuesday as Middle East tensions escalated, raising concerns of a regional war. With the situation worsening, markets panicked, and BTC dropped almost 4%, going below the 20-day SMA and settling at $60,873. Buyers attempted a recovery on Wednesday, with BTC rising to a day high of $62,456. However, the 20-day SMA acted as a dynamic resistance level, pushing the price back down. BTC eventually experienced a marginal decline and settled at $60,671. With strong support at $60,000 and the 50-day SMA also acting as a dynamic resistance level, BTC made a modest recovery as buyers prevented a further decline. Ultimately, BTC rose by 0.22% and settled at $60,804.

週二，隨著中東緊張局勢升級，市場陷入恐慌，引發了對地區戰爭的擔憂。隨著情況惡化，市場陷入恐慌，BTC 下跌近 4%，跌破 20 日移動平均線，最終收在 60,873 美元。週三，買家試圖復甦，比特幣升至日高 ​​62,456 美元。然而，20 日移動平均線充當動態阻力位，推動價格回落。 BTC 最終小幅下跌，收在 60,671 美元。在 60,000 美元的強勁支撐和 50 日移動平均線也充當動態阻力位的情況下，由於買家阻止了進一步下跌，比特幣溫和復甦。最終，BTC上漲0.22%，收在60,804美元。

The current session sees BTC up by almost 1%, rebounding from the 50-day SMA, with the price currently at $61,414. As the price recovers from its support level, buyers will aim to push BTC above $62,500 and the 20-day SMA. If successful, the next critical resistance level is $63,500. Moving above these levels could pave the way for a surge towards $65,000 and $66,000. However, if sellers regain control and drive BTC below the 50-day SMA and $60,000, the price may decline to $57,500 or $55,000.

目前交易日，BTC 上漲近 1%，從 50 日移動平均線反彈，目前價格為 61,414 美元。隨著價格從支撐位恢復，買家的目標是將 BTC 推至 62,500 美元和 20 日移動平均線上方。如果成功，下一個關鍵阻力位在 63,500 美元。突破這些水平可能會為飆升至 65,000 美元和 66,000 美元鋪平道路。然而，如果賣家重新獲得控制權並將 BTC 推至 50 日移動平均線和 60,000 美元下方，價格可能會跌至 57,500 美元或 55,000 美元。

Ethereum (ETH) Price Analysis

以太坊（ETH）價格分析

Ethereum (ETH) has declined almost 10% over the past week and a significant 12% in the last 48 hours, as adverse market conditions and the failure to push above $2,700 have weighed down the price. ETH's recent bearish trend has eliminated nearly all gains made since September 17, when it rebounded from a low of $2,254. Market watchers are now contemplating whether ETH can surpass $2,700 and what is required to reverse its bearish outlook. ETH has experienced a notable downward trend since September 1, while the crypto market capitalization has risen by 1.4%. The highly anticipated spot Ethereum ETFs have also underwhelmed investors, accumulating net outflows of over $550 million. Some analysts attribute ETH's price decline to selling pressure from Ethereum co-founder Vitalik Buterin and the Ethereum Foundation, while others point to diminished demand for decentralized applications (dApps).

以太幣 (ETH) 在過去一周下跌了近 10%，在過去 48 小時內下跌了 12%，原因是不利的市場狀況以及未能突破 2,700 美元，導致價格承壓。 ETH 最近的看跌趨勢幾乎消除了自 9 月 17 日以來的所有漲幅，當時它從 2,254 美元的低點反彈。市場觀察家現在正在考慮 ETH 能否突破 2,700 美元，以及需要採取什麼措施才能扭轉其看跌前景。自9月1日以來，ETH經歷了明顯的下跌趨勢，而加密貨幣市值卻上漲了1.4%。備受期待的以太坊 ETF 現貨也沒有給投資者留下深刻印象，累計淨流出超過 5.5 億美元。一些分析師將 ETH 價格下跌歸因於以太坊聯合創始人 Vitalik Buterin 和以太坊基金會的拋售壓力，而其他分析師則指出，去中心化應用程式 (dApp) 的需求減少。

Additionally, Ethereum enthusiasts believed in the ultrasound money theory and expected ETH to become deflationary. However, this has not occurred, and the coin-issuance rate has become positive, with Ethereum's strategic adjustments negatively impacting ETH. As observed in the price chart, ETH has been strongly bearish since the weekend, dropping by 0.73% on Saturday and 0.67% on Sunday to settle at $2,659. Selling pressure escalated on Monday, with ETH falling just over 2% to settle at $2,603. With markets turning bearish on Tuesday, ETH witnessed significant volatility before dropping almost 6% to slip below $2,500, the 20-day SMA, and the 50-day SMA to $2,448.

此外，以太坊愛好者相信超音波貨幣理論，並預計 ETH 會出現通貨緊縮。然而這並沒有發生，發幣率已經轉正，以太坊的策略調整對ETH產生了負面影響。從價格圖表中可以看出，ETH 自周末以來一直強烈看跌，週六下跌 0.73%，週日下跌 0.67%，收於 2,659 美元。週一拋售壓力升級，ETH 下跌略高於 2%，收在 2,603 美元。隨著週二市場轉為看跌，ETH 出現大幅波動，隨後下跌近 6%，跌破 2,500 美元、20 日移動平均線和 50 日移動平均線，至 2,448 美元。

Buyers attempted a recovery on Wednesday but were unsuccessful, as sellers took control and pushed the price down by 3.40%. As a result, ETH fell below $2,400 and settled at $2,365. Thursday saw another round of volatility as buyers attempted to push back above $2,400. However, they were unsuccessful again, and ETH declined by 0.64% to $2,350. The current session sees ETH up by 1.50% as buyers aim to reclaim the $2,400 level. If buyers can maintain momentum, they will seek to push back to $2,500. Conversely, if sellers regain control, ETH could drop to $2,300.

週三，買家試圖挽回頹勢，但未能成功，因為賣家控制了局面，並將價格壓低了 3.40%。結果，ETH 跌破 2,400 美元，收在 2,365 美元。週四出現另一輪波動，買家試圖將價格推升至 2,400 美元上方。然而，他們再次沒有成功，ETH 下跌 0.64% 至 2,350 美元。當前交易日，ETH 上漲 1.50%，因為買家的目標是收復 2,400 美元的水平。如果買家能夠保持勢頭，他們將尋求將價格推回 2,500 美元。相反，如果賣家重新獲得控制權，ETH 可能會跌至 2,300 美元。

Solana (SOL) Price Analysis

Solana (SOL) 價格分析

Solana (SOL) dipped below $140 on Thursday, experiencing significant volatility and reaching a day low of $133. As observed in the price chart, SOL's recent bullish run peaked at a high of $161. However, the rally lost momentum as SOL fell back into the red on Monday, beginning the week with a drop of almost 4% to slip below the 200-day SMA and settle at $152. With crypto markets turning bearish amidst the escalating Middle East situation, SOL registered a substantial drop of almost 5% on Tuesday, losing the $150 level and settling at $145, just above the 20-day SMA.

Solana (SOL) 週四跌破 140 美元，經歷大幅波動，觸及 133 美元的日低。從價格圖表中可以看出，SOL 最近的看漲走勢達到了 161 美元的高點。然而，隨著 SOL 週一重新陷入紅色，本周初下跌近 4%，跌破 200 日移動平均線並收於 152 美元，反彈勢頭失去了動力。隨著中東局勢升級，加密貨幣市場轉為看跌，SOL 週二大幅下跌近 5%，跌破 150 美元水平，收於 145 美元，略高於 20 日移動平均線。

SOL fell below the 20-day SMA on Wednesday after a failed attempt to push above $150. As bulls lost momentum, sellers regained control and pushed SOL down by 3.44%. Consequently, SOL slipped below the 20-day SMA, the 50-day SMA, and settled at $140. Thursday saw increased volatility as sellers attempted to drive SOL below $130, while buyers sought a move past $140. Ultimately, SOL dropped by 2.40% to settle at $136.

在嘗試突破 150 美元失敗後，週三 SOL 跌破 20 日移動平均線。由於多頭失去動力，賣方重新獲得控制權，導致 SOL 下跌 3.44%。因此，SOL 跌破 20 日移動平均線和 50 日移動平均線，並收在 140 美元。週四，波動性加劇，賣家試圖將 SOL 推至 130 美元以下，而買家則尋求突破 140 美元。最終，SOL 下跌 2.40%，收在 136 美元。