Bitcoin Price Plunges, Triggering Market Decline

比特币价格暴跌，引发市场下跌

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.

比特币价格急剧下跌，接近 96,000 美元，导致市场跌破支撑位。与此同时，以太坊下跌 8.97%，交易价格为 3,348 美元。 XRP和SOL也分别损失了4.25%和9.12%。狗狗币和卡尔达诺面临着超过 10% 和 9% 的大幅回调，其他山寨币也出现了类似的下滑。

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.

尽管全球交易量激增超过33.12%，达到1700亿美元，但市值却下降至3.36万亿美元，下降了6.38%。

Factors Influencing the Crypto Market Plunge

影响加密货币市场暴跌的因素

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.

即将发生的两个关键事件：ADP 非农就业报告和 FOMC 会议纪要。虽然 ADP 可以让我们初步了解劳动力市场的健康状况，但 FOMC 会议纪要可以让我们深入了解美联储的利率立场，这可能会对比特币价格产生重大影响。

Current Market Conditions and Future Outlook

目前的市场状况和未来展望

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，长期来看达到 5.58 亿美元的峰值，其中比特币占近 1 亿美元。压力有增无减，双方都遭遇阻力。

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 的清算热图表明，正在战略层面建立空头头寸。如果比特币价格上涨至 98,600 美元，则超过 3500 万美元将被清算，而恢复至 103,300 美元以上将引发超过 6600 万美元的清算。这表明交易者存在一定程度的悲观情绪或对涨势可持续性的不确定性。

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.

尽管进行了这些调整，包括 XRP、XLM 和 BNB 在内的某些山寨币仍表现出了弹性，暗示在不久的将来可能会出现反弹。与此同时，比特币的主导地位仍处于狭窄范围内，这表明山寨币季节即将到来。