Crypto Markets Experience Turmoil, Mass Liquidations Impact Traders

加密货币市场经历动荡，大规模清算影响交易者

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.

过去 24 小时内，加密货币市场出现大幅波动，导致大规模清算，影响超过 100,000 名交易者。比特币 (BTC) 于 10 月 3 日短暂跌破 60,000 美元，随后回升并突破 61,000 美元。全球领先的加密货币仍保持在 61,000 美元大关之上。

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.

大多数主要加密货币，包括以太坊 (ETH)、Solana (SOL)、Ripple (XRP) 和 Dogecoin (DOGE) 仍处于亏损状态。因此，加密货币市值已降至 2.12 万亿美元。此外，现货比特币 ETF 的资金外流持续存在。

Crypto Market Liquidations Surge

加密货币市场清算激增

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.

比特币 (BTC) 的交易价格略高于 61,000 美元大关，较周末的 65,000 美元水平大幅下跌。 BTC 和更广泛的加密市场价格大幅下跌引发了一波清算浪潮，过去 24 小时内价值 2.95 亿美元的头寸被平仓。其中，2.46 亿美元为多头头寸，表明交易者对价格上涨的预期。仅 BTC 就有近 4500 万美元的多头头寸被清算，影响了超过 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.

在市场波动的情况下，交易者纷纷涌向稳定币以保本，主要稳定币的交易量激增。在 1210 亿美元的全球交易量中，883 亿美元集中在稳定币上。这表明交易者正在寻求稳定币等波动性较小的资产来保护他们的资金。

Geopolitical Factors Influence Volatility

地缘政治因素影响波动性

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.

不断升级的中东冲突加剧了包括加密货币在内的全球市场的波动。不确定性加剧了交易活动和价格波动。它还凸显了比特币作为“数字黄金”的声誉，有可能在地缘政治不确定性期间作为对冲市场动荡的工具。一些投资者转向比特币寻求庇护，而另一些投资者则撤退，认为比特币投机性太强且风险过高。

Binance Market Share Declines

币安市场份额下降

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.

全球最大的加密货币交易所币安的市场份额已缩减至 2020 年的水平，因为竞争加剧使得竞争对手获得了大量用户和交易量。根据 CCData 的报告，币安的现货和衍生品交易量分别下降了 23% 和 21%，中心化交易所活动也有所下降。数据显示，9 月份中心化交易所交易量减少了 17%，这对资产交易来说是历史上充满挑战的一个月。币安目前在现货交易市场占有 27% 的市场份额，在衍生品市场占有 40% 的份额。

Spot Bitcoin ETFs Continue to Witness Outflows

现货比特币 ETF 继续出现资金外流

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.

现货比特币 ETF 周四出现资金流出，资金总额达 5400 万美元。过去三天累计资金流出已达3.88亿美元，凸显了市场的悲观情绪。虽然 ARKB 面临大量资金流出，但 BlackRock 的 IBIT 和 Bitwise 的 BITB 却出现了资金流入。现货比特币ETF的日交易量也从16.6亿美元下降至11.3亿美元。

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.

现货以太坊 ETF 也经历了 320 万美元的净流出，其中 Grayscale 的 ETHE 净流出最多。然而，贝莱德的 ETHA 以 1200 万美元的净流入抵消了部分损失。

Bitcoin (BTC) Price Analysis

比特币（BTC）价格分析

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.

比特币 (BTC) 在周四跌至 59,904 美元低点后略有回升，买家在 60,000 美元水平入市。市场经历了大规模清算，影响了投资者，市场观察人士希望比特币能够以积极的方式结束看跌的一周。从价格图表中可以看出，BTC 周六突破了 66,000 美元，达到每日高点 66,271 美元。然而，该水平的强劲阻力导致周日跌回红色，导致小幅下跌并以负面收盘看涨周。本周开始，看跌情绪加剧，BTC 下跌 3.45%，跌破 65,000 美元，200 日移动平均线收于 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.

周二，随着中东紧张局势升级，市场陷入恐慌，引发了对地区战争的担忧。随着形势恶化，市场陷入恐慌，BTC 下跌近 4%，跌破 20 日移动平均线，最终收于 60,873 美元。周三，买家试图复苏，比特币升至日高 ​​62,456 美元。然而，20 日移动平均线充当动态阻力位，推动价格回落。 BTC 最终小幅下跌，收于 60,671 美元。在 60,000 美元的强劲支撑和 50 日移动平均线也充当动态阻力位的情况下，由于买家阻止了进一步下跌，比特币温和复苏。最终，BTC上涨0.22%，收于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.

当前交易日，BTC 上涨近 1%，从 50 日移动平均线反弹，目前价格为 61,414 美元。随着价格从支撑位恢复，买家的目标是将 BTC 推至 62,500 美元和 20 日移动平均线上方。如果成功，下一个关键阻力位是 63,500 美元。突破这些水平可能会为飙升至 65,000 美元和 66,000 美元铺平道路。然而，如果卖家重新获得控制权并将 BTC 推至 50 日移动平均线和 60,000 美元下方，价格可能会跌至 57,500 美元或 55,000 美元。

Ethereum (ETH) Price Analysis

以太坊（ETH）价格分析

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).

以太坊 (ETH) 在过去一周下跌了近 10%，在过去 48 小时内下跌了 12%，原因是不利的市场状况以及未能突破 2,700 美元，导致价格承压。 ETH 最近的看跌趋势几乎消除了自 9 月 17 日以来的所有涨幅，当时它从 2,254 美元的低点反弹。市场观察人士现在正在考虑 ETH 能否突破 2,700 美元，以及需要采取什么措施才能扭转其看跌前景。自9月1日以来，ETH经历了明显的下跌趋势，而加密货币市值却上涨了1.4%。备受期待的以太坊 ETF 现货也没有给投资者留下深刻印象，累计净流出超过 5.5 亿美元。一些分析师将 ETH 价格下跌归因于以太坊联合创始人 Vitalik Buterin 和以太坊基金会的抛售压力，而其他分析师则指出，对去中心化应用程序 (dApp) 的需求减少。

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，以太坊爱好者相信超声波货币理论，并预计 ETH 会出现通缩。然而这并没有发生，发币率已经转正，以太坊的战略调整对ETH产生了负面影响。从价格图表中可以看出，ETH 自周末以来一直强烈看跌，周六下跌 0.73%，周日下跌 0.67%，收于 2,659 美元。周一抛售压力升级，ETH 下跌略高于 2%，收于 2,603 美元。随着周二市场转为看跌，ETH 出现大幅波动，随后下跌近 6%，跌破 2,500 美元、20 日移动平均线和 50 日移动平均线，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.

周三，买家试图挽回颓势，但未能成功，因为卖家控制了局面，并将价格压低了 3.40%。结果，ETH 跌破 2,400 美元，收于 2,365 美元。周四出现另一轮波动，买家试图将价格推升至 2,400 美元上方。然而，他们再次没有成功，ETH 下跌 0.64% 至 2,350 美元。当前交易日，ETH 上涨 1.50%，因为买家的目标是收复 2,400 美元的水平。如果买家能够保持势头，他们将寻求将价格推回 2,500 美元。相反，如果卖家重新获得控制权，ETH 可能会跌至 2,300 美元。

Solana (SOL) Price Analysis

Solana (SOL) 价格分析

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) 周四跌破 140 美元，经历大幅波动，触及 133 美元的日低。从价格图表中可以看出，SOL 最近的看涨走势达到了 161 美元的高点。然而，随着 SOL 周一重新陷入红色，本周初下跌近 4%，跌破 200 日移动平均线并收于 152 美元，反弹势头失去了动力。随着中东局势升级，加密货币市场转为看跌，SOL 周二大幅下跌近 5%，跌破 150 美元水平，收于 145 美元，略高于 20 日移动平均线。

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.

在尝试突破 150 美元失败后，周三 SOL 跌破 20 日移动平均线。由于多头失去动力，卖方重新获得控制权，导致 SOL 下跌 3.44%。因此，SOL 跌破 20 日移动平均线和 50 日移动平均线，并收于 140 美元。周四，波动性加剧，卖家试图将 SOL 推至 130 美元以下，而买家则寻求突破 140 美元。最终，SOL 下跌 2.40%，收于 136 美元。