<p>TradingKey – 比特币在飙升后暴跌，几乎跌破 10 万美元大关，触发了大规模的清算，并对其短期前景投下阴影。</p>
<p>周一（5 月 12 日）下午 3 点左右，有报道称美国和中国已达成协议，显著降低彼此商品的关税。这则消息使比特币（BTC）飙升至 10.58 万美元，创下自 2 月份以来的最高水平。</p>
<p>然而，这一涨势并未持续太久，BTC 很快回落，随着美国市场的收盘，抛售加速。到周二早些时候，价格已危险地接近 10 万美元。</p>
<p><img src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20250513/2031cbf7b25f4ca8b84b6243fa76ed73%E5%9B%BE%E7%89%871.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20250513/2031cbf7b25f4ca8b84b6243fa76ed73%E5%9B%BE%E7%89%871.png"/></p>
<p>比特币价格图表，来源：CoinMarketCap。</p>
<p>剧烈的波动波及更广泛的加密市场，导致了一波清算。数据显示，在过去 24 小时内，有 21.2 万名交易者被清算，总金额达到 7 亿美元——其中 4.8 亿美元来自多头头寸，2.2 亿美元来自空头。</p>
<p><img src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20250513/bcc910dfb3a549aa8e5d2d8537b3cd23%E5%9B%BE%E7%89%872.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20250513/bcc910dfb3a549aa8e5d2d8537b3cd23%E5%9B%BE%E7%89%872.png"/></p>
<p>加密清算数据，来源：Coinglass。</p>
<p>此次下跌主要受到两个关键因素的驱动：</p>
<p>1. 在美中关税消息公布后，投资者进行获利了结。</p>
<p>2. 美联储理事库格尔的言论称关税仍然带来重大经济风险，强化了利率将保持不变的预期。</p>
<p>随着美中在关税问题上取得重大进展，贸易政策带来的进一步上行催化剂似乎有限。下一个可能对市场产生重大影响的事件将是美联储的利率决定。大多数分析师预计在 7 月或更晚之前不会降息，这意味着加密市场可能在 5 月至 6 月的政策空窗期面临调整阶段。</p>
<p>了解更多</p>

GBTC

<p>比特币经历了极端的波动，在美国与中国减税消息发布后飙升至 105,800 美元，但很快跌至接近 100,000 美元，导致 21.2 万个头寸被平仓，价值达 7 亿美元。此次抛售受到获利了结和对关税带来的经济风险的担忧推动，市场预期利率将保持不变。分析师预测，加密货币将进入一个修正阶段，直到美联储的利率决定，可能会将降息推迟到 7 月或更晚</p>

<p>TradingKey – Bitcoin skyrocketed before plummeting, nearly breaking below the $100K mark, triggering massive liquidations and casting a shadow over its near-term outlook.</p>
<div class="lb-trans"><p>TradingKey – 比特币在飙升后暴跌，几乎跌破 10 万美元大关，触发了大规模的清算，并对其短期前景投下阴影。</p>
</div><p>Around 3 PM on Monday (May 12), reports emerged that the U.S. and China had agreed to significantly reduce tariffs on each other’s goods. The news sent Bitcoin (BTC) soaring to $105.8K, its highest level since February.</p>
<div class="lb-trans"><p>周一（5 月 12 日）下午 3 点左右，有报道称美国和中国已达成协议，显著降低彼此商品的关税。这则消息使比特币（BTC）飙升至 10.58 万美元，创下自 2 月份以来的最高水平。</p>
</div><p>However, the rally was short-lived, and BTC soon retreated, with the selloff accelerating after U.S. markets closed. By early Tuesday, the price had dipped dangerously close to $100K.</p>
<div class="lb-trans"><p>然而，这一涨势并未持续太久，BTC 很快回落，随着美国市场的收盘，抛售加速。到周二早些时候，价格已危险地接近 10 万美元。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20250513/2031cbf7b25f4ca8b84b6243fa76ed73%E5%9B%BE%E7%89%871.png" alt="" original-src="https://resource.tradingkey.com/uploads/20250513/2031cbf7b25f4ca8b84b6243fa76ed73%E5%9B%BE%E7%89%871.png"/></p>
<p>Bitcoin Price Chart, Source: CoinMarketCap.</p>
<div class="lb-trans"><p>比特币价格图表，来源：CoinMarketCap。</p>
</div><p>The violent swings spilled over into the broader crypto market, forcing a wave of liquidations. Data shows that over the past 24 hours, 212,000 traders were liquidated, totaling $700 million—$480 million from long positions and $220 million from shorts.</p>
<div class="lb-trans"><p>剧烈的波动波及更广泛的加密市场，导致了一波清算。数据显示，在过去 24 小时内，有 21.2 万名交易者被清算，总金额达到 7 亿美元——其中 4.8 亿美元来自多头头寸，2.2 亿美元来自空头。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://resource.tradingkey.com/uploads/20250513/bcc910dfb3a549aa8e5d2d8537b3cd23%E5%9B%BE%E7%89%872.png" alt="" original-src="https://resource.tradingkey.com/uploads/20250513/bcc910dfb3a549aa8e5d2d8537b3cd23%E5%9B%BE%E7%89%872.png"/></p>
<p>Crypto Liquidation Data, Source: Coinglass.</p>
<div class="lb-trans"><p>加密清算数据，来源：Coinglass。</p>
</div><p>The downturn was driven by two key factors:</p>
<div class="lb-trans"><p>此次下跌主要受到两个关键因素的驱动：</p>
</div><p>1. Profit-taking after the U.S.-China tariff news played out.</p>
<div class="lb-trans"><p>1. 在美中关税消息公布后，投资者进行获利了结。</p>
</div><p>2. Fed Governor Kugler’s remarks that tariffs still pose significant economic risks, reinforcing expectations that interest rates will remain unchanged.</p>
<div class="lb-trans"><p>2. 美联储理事库格尔的言论称关税仍然带来重大经济风险，强化了利率将保持不变的预期。</p>
</div><p>With the U.S. and China making major progress on tariffs, further upward catalysts from trade policies appear limited. The next major market-moving event will likely be the Fed’s rate decision. Most analysts expect no rate cuts until July or later, meaning crypto could face a corrective phase in May-June during this policy lull.</p>
<div class="lb-trans"><p>随着美中在关税问题上取得重大进展，贸易政策带来的进一步上行催化剂似乎有限。下一个可能对市场产生重大影响的事件将是美联储的利率决定。大多数分析师预计在 7 月或更晚之前不会降息，这意味着加密市场可能在 5 月至 6 月的政策空窗期面临调整阶段。</p>
</div><p>Find out more</p>
<div class="lb-trans"><p>了解更多</p>
</div>

21 万次清算！比特币先是飙升然后暴跌，多头和空头均遭受双重打击！