Cryptocurrency Market Slumps: Understanding the Recent Liquidation Event

加密货币市场暴跌：了解最近的清算事件

The global cryptocurrency market is facing a significant downturn, with a trend of increasing liquidations threatening Bitcoin and altcoins.

全球加密货币市场正面临严重低迷，清算增加的趋势威胁着比特币和山寨币。

Bitcoin Price Pressure

比特币价格压力

At the time of writing, Bitcoin's price has dropped to $54,541, down from $57,031 yesterday. Over the past four days, the value has plummeted from $62,829, marking an 11.5% decline this week. On June 29, it stood at $60,920.

截至撰写本文时，比特币的价格已从昨天的 57,031 美元跌至 54,541 美元。过去四天里，其价值从 62,829 美元暴跌，本周下跌 11.5%。 6 月 29 日，其价格为 60,920 美元。

Ethereum Price Plummets

以太坊价格暴跌

Ethereum has also experienced a steep decline, with a 16.3% drop this week. On July 2, it was valued at approximately $3,417, but has since fallen to $2,868.8.

以太坊也经历了大幅下跌，本周跌幅为 16.3%。 7 月 2 日，其估值约为 3,417 美元，但此后已跌至 2,868.8 美元。

Liquidation Surge

清算激增

The sharp price decreases have fueled a surge in liquidations. Reports indicate that over 221,704 traders liquidated their positions in the past 24 hours. Ethereum liquidations reportedly surpassed those of Bitcoin, reaching $44.5 million in the past hour and $107 million over the past 24 hours.

价格急剧下跌导致清算激增。报告显示，过去 24 小时内有超过 221,704 名交易者平仓。据报道，以太坊清算量超过了比特币，在过去 1 小时内达到 4450 万美元，在过去 24 小时内达到 1.07 亿美元。

Possible Causes

可能的原因

The exact reason for the sudden price drop in ETH is still unclear. However, some experts, like Antony Sassano, suggest that it's related to the Grayscale ETHE Fund. They posit that the fund, which invests in Ethereum, has become more expensive than the actual ETH, potentially causing uncertainty among investors.

ETH 价格突然下跌的确切原因尚不清楚。然而，安东尼·萨萨诺 (Antony Sassano) 等一些专家认为，这与灰度 ETHE 基金有关。他们认为，投资以太坊的基金已经变得比实际的 ETH 更贵，可能会给投资者带来不确定性。

Memecoin Sector Woes

Memecoin 行业困境

The downturn has also affected the memecoin sector. Top memecoins like Dogecoin, Shiba Inu, and Pepe have lost between 17% and 25% in the past 24 hours.

经济低迷也影响了模因币行业。 Dogecoin、Shiba Inu 和 Pepe 等顶级 memecoin 在过去 24 小时内下跌了 17% 至 25%。

Market Sentiment

市场情绪

The current market situation favors sellers. The release of the Ethereum Spot ETF is imminent, but it remains to be seen whether it will spark a market rebound.

目前的市场形势对卖家有利。以太坊现货ETF发行在即，但能否引发市场反弹还有待观察。

Stay tuned for further updates on the crypto market crash.

请继续关注有关加密货币市场崩溃的进一步更新。