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

加密货币市场在获利回吐和市场调整中大幅下跌

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.

比特币最近飙升至 8.9 万美元以上后，主要山寨币的价值大幅上涨，加密货币市场在过去 24 小时内经历了大幅调整。周二，比特币价格跌破 8.52 万美元，导致 11 月 13 日周三亚洲早盘期间，加密货币总市值下降 3%，至约 3.06 万亿美元。

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%.

鉴于人们普遍认为更广泛的加密货币牛市已接近顶峰，建议交易者相应地管理风险并预计潜在的下跌 20-40%。

Factors Contributing to the Crypto Selloff

导致加密货币抛售的因素

Leveraged Market Correction

杠杆市场调整

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.

过去三天内，加密货币市场发生了价值超过 20 亿美元的强制平仓。在过去 24 小时内，由于波动性加剧，这些清算中约 9.28 亿美元对多头交易者产生了影响。

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，最初的轧空局面已显着消退，更多交易者选择短期回调。在币安交易所，超过 51% 的杠杆交易者持有空头头寸，这表明对近期市场持续反弹的乐观情绪减弱。

Shift in Market Sentiment

市场情绪转变

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，唐纳德·特朗普在美国的胜利引发了比特币价格的飙升，导致人们对加密货币市场投降的担忧有所下降。随后，比特币和以太坊的恐惧和贪婪指数都超过了80%，反映出市场内部过度乐观。

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，美国现货比特币 ETF 在过去 4 周内经历了超过 87 亿美元的大幅流入。 MicroStrategy 最近宣布斥资 20 亿美元购买比特币，目标是收购总价值 420 亿美元的比特币。

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

然而，历史数据表明，当看涨情绪达到极端水平时，加密货币市场经常会经历调整。

Midterm Expectations

中期预期

Bitcoin

比特币

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.

历史趋势表明，比特币相对于山寨币的主导地位将持续到 2025 年 1 月上旬。其支撑范围预计在 83,250 美元至 85,800 美元之间，其中大量地址已经购买了比特币。

Altcoins

山寨币

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

在狗狗币 (DOGE)、Solana (SOL) 和以太坊 (ETH) 最近经历看涨突破后，山寨币市场预计将获得动力。