<p>在过去 24 小时内，山寨币市场承受了巨大的压力，主要代币普遍下跌，市场市值（不包括比特币和稳定币）急剧收缩。</p>
<p>根据市场数据，<strong>不包括 BTC 的总加密市场市值降至约 1.2 万亿美元</strong>，较前一日下降了大约 <strong>500 亿美元</strong>，即超过 <strong>4%</strong>，基于最新的日蜡烛图。</p>
<p>交易量保持在 <strong>1470 亿美元</strong> 附近，表明此次抛售是由于积极的风险降低，而非流动性不足。</p>
<h2><strong>主要山寨币出现大幅周损</strong></h2>
<p>在大盘山寨币领域，损失普遍且超出了短期波动。</p>
<p>以太坊跌破 <strong>3000 美元</strong>，当天下跌约 <strong>7%</strong>，过去一周几乎下跌 <strong>7%</strong>，而索拉纳跌至约 <strong>127 美元</strong>，在七天内损失超过 <strong>11%</strong>。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-20-at-21.48.22.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://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-20-at-21.48.22.png"/></p>
<p>来源：CoinMarketCap</p>
<p>XRP 表现不佳，过去一周下跌超过 <strong>11%</strong>，而狗狗币和卡尔达诺的周损也相似，均在 <strong>14%</strong> 或以上。</p>
<p>即使是相对防御性的大盘币种也未能稳住。BNB 在一周内下跌超过 <strong>5%</strong>，而 Tron 则稍微下跌，但仍然以负值收盘。</p>
<p>门罗币的波动最为剧烈，周损超过 <strong>25%</strong>，突显了下跌的广泛性。</p>
<h2><strong>山寨币市场结构在关键水平下弱化</strong></h2>
<p>不包括比特币的总市值图表显示出明显的结构损失。在本月早些时候未能重新夺回 <strong>1.3 万亿美元</strong> 区域后，市场回落并持续形成更低的高点，最新的下跌将价格推向 2024 年中期最后一次出现的水平。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/TOTAL2_2026-01-20_21-49-16.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://ambcrypto.com/wp-content/uploads/2026/01/TOTAL2_2026-01-20_21-49-16.png"/></p>
<p>来源：TradingView</p>
<p>动量指标反映出下行压力加大。<strong>日 RSI 已跌破 40</strong>，表明买方力量减弱。同时，红色蜡烛期间的交易量激增表明是分配而非整合。</p>
<p>这一崩溃突显出资本正以比特币更快地流出山寨币。这显示出一种经典的风险规避轮换，交易者首先减少对高贝塔资产的敞口。</p>
<h2><strong>比特币的疲软影响山寨币</strong></h2>
<p>尽管比特币未被纳入总市值计算，但其跌破 <strong>90,000 美元</strong> 似乎加速了山寨币的损失。</p>
<p>历史上，比特币的急剧下跌往往会放大更广泛市场的下行波动，特别是在杠杆被清除和信心减弱时。</p>
<p>在比特币没有立即恢复且流动性条件收紧的情况下，山寨币在短期内仍然容易受到进一步下行的影响。</p>
<hr/>
<h2><strong>最终思考</strong></h2>
<ul>
<li>山寨币市场在一天内损失了大约 500 亿美元，大多数大盘代币的周损均为双位数。</li>
<li>在更广泛的市场信心恢复之前，山寨币相对于比特币可能仍将承受压力。</li>
</ul>
<hr/>

<p>替代币市场经历了显著的损失，市值下降约 500 亿美元，目前约为 1.2 万亿美元。主要代币如以太坊和 Solana 分别下跌超过 7% 和 11%，而 XRP 和狗狗币也出现了大幅的周损失。市场结构减弱，表明资金快速流出替代币，风险偏好下降。比特币跌破 90,000 美元加剧了这一情况，导致替代币在短期内进一步脆弱。总体而言，替代币市场仍然承压，直到信心恢复</p>

<p>The altcoin market came under heavy pressure in the past 24 hours, with broad losses across major tokens and a sharp contraction in market capitalization excluding Bitcoin and stablecoins.</p>
<div class="lb-trans"><p>在过去 24 小时内，山寨币市场承受了巨大的压力，主要代币普遍下跌，市场市值（不包括比特币和稳定币）急剧收缩。</p>
</div><p>According to market data, the <strong>total crypto market cap excluding BTC fell to around $1.2 trillion</strong>, marking a daily decline of roughly <strong>$50 billion</strong>, or just over <strong>4%</strong>, based on the latest daily candle.</p>
<div class="lb-trans"><p>根据市场数据，<strong>不包括 BTC 的总加密市场市值降至约 1.2 万亿美元</strong>，较前一日下降了大约 <strong>500 亿美元</strong>，即超过 <strong>4%</strong>，基于最新的日蜡烛图。</p>
</div><p>Trading volume remained elevated near <strong>$147 billion</strong>, suggesting the sell-off was driven by active risk reduction rather than thin liquidity.</p>
<div class="lb-trans"><p>交易量保持在 <strong>1470 亿美元</strong> 附近，表明此次抛售是由于积极的风险降低，而非流动性不足。</p>
</div><h2><strong>Major altcoins post steep weekly losses</strong></h2>
<div class="lb-trans"><h2><strong>主要山寨币出现大幅周损</strong></h2>
</div><p>Across the large-cap altcoin segment, losses were widespread and extended beyond short-term volatility.</p>
<div class="lb-trans"><p>在大盘山寨币领域，损失普遍且超出了短期波动。</p>
</div><p>Ethereum slipped below <strong>$3,000</strong>, down roughly <strong>7% on the day</strong> and nearly <strong>7% over the past week</strong>, while Solana fell to around <strong>$127</strong>, shedding more than <strong>11% on a seven-day basis</strong>.</p>
<div class="lb-trans"><p>以太坊跌破 <strong>3000 美元</strong>，当天下跌约 <strong>7%</strong>，过去一周几乎下跌 <strong>7%</strong>，而索拉纳跌至约 <strong>127 美元</strong>，在七天内损失超过 <strong>11%</strong>。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-20-at-21.48.22.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-20-at-21.48.22.png"/></p>
<p>Source: CoinMarketCap</p>
<div class="lb-trans"><p>来源：CoinMarketCap</p>
</div><p>XRP also underperformed, declining over <strong>11% in the past week</strong>, while Dogecoin and Cardano recorded similar weekly losses of <strong>14%</strong> or more.</p>
<div class="lb-trans"><p>XRP 表现不佳，过去一周下跌超过 <strong>11%</strong>，而狗狗币和卡尔达诺的周损也相似，均在 <strong>14%</strong> 或以上。</p>
</div><p>Even relatively defensive large caps failed to hold ground. BNB fell over <strong>5%</strong> on the week, while Tron declined more modestly but still posted a negative daily close.</p>
<div class="lb-trans"><p>即使是相对防御性的大盘币种也未能稳住。BNB 在一周内下跌超过 <strong>5%</strong>，而 Tron 则稍微下跌，但仍然以负值收盘。</p>
</div><p>Monero saw one of the sharpest moves, with weekly losses exceeding <strong>25%</strong>, underscoring the breadth of the downturn.</p>
<div class="lb-trans"><p>门罗币的波动最为剧烈，周损超过 <strong>25%</strong>，突显了下跌的广泛性。</p>
</div><h2><strong>Altcoin market structure weakens below key levels</strong></h2>
<div class="lb-trans"><h2><strong>山寨币市场结构在关键水平下弱化</strong></h2>
</div><p>The total market cap excluding Bitcoin chart shows a clear loss of structure. After failing to reclaim the <strong>$1.3 trillion</strong> area earlier this month, the market rolled over and continued printing lower highs, with the latest drop pushing prices toward levels last seen in mid-2024.</p>
<div class="lb-trans"><p>不包括比特币的总市值图表显示出明显的结构损失。在本月早些时候未能重新夺回 <strong>1.3 万亿美元</strong> 区域后，市场回落并持续形成更低的高点，最新的下跌将价格推向 2024 年中期最后一次出现的水平。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/TOTAL2_2026-01-20_21-49-16.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/TOTAL2_2026-01-20_21-49-16.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>Momentum indicators reflect growing downside pressure. <strong>The daily RSI has slipped below 40</strong>, pointing to weakening buyer strength. At the same time, volume spikes during red candles suggest distribution rather than consolidation.</p>
<div class="lb-trans"><p>动量指标反映出下行压力加大。<strong>日 RSI 已跌破 40</strong>，表明买方力量减弱。同时，红色蜡烛期间的交易量激增表明是分配而非整合。</p>
</div><p>This breakdown highlights that capital is exiting altcoins faster than Bitcoin. This shows a classic risk-off rotation where traders reduce exposure to higher-beta assets first.</p>
<div class="lb-trans"><p>这一崩溃突显出资本正以比特币更快地流出山寨币。这显示出一种经典的风险规避轮换，交易者首先减少对高贝塔资产的敞口。</p>
</div><h2><strong>Bitcoin weakness spills into altcoins</strong></h2>
<div class="lb-trans"><h2><strong>比特币的疲软影响山寨币</strong></h2>
</div><p>Although Bitcoin was excluded from the total market cap calculation, its drop below <strong>$90,000</strong> appears to have accelerated losses across altcoins.</p>
<div class="lb-trans"><p>尽管比特币未被纳入总市值计算，但其跌破 <strong>90,000 美元</strong> 似乎加速了山寨币的损失。</p>
</div><p>Historically, sharp Bitcoin declines tend to amplify downside volatility in the broader market, particularly when leverage is flushed out and confidence weakens.</p>
<div class="lb-trans"><p>历史上，比特币的急剧下跌往往会放大更广泛市场的下行波动，特别是在杠杆被清除和信心减弱时。</p>
</div><p>With no immediate recovery in Bitcoin and liquidity conditions tightening, altcoins remain vulnerable to further downside in the short term.</p>
<div class="lb-trans"><p>在比特币没有立即恢复且流动性条件收紧的情况下，山寨币在短期内仍然容易受到进一步下行的影响。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最终思考</strong></h2>
</div><ul>
<li>The altcoin market lost roughly $50 billion in a single day, with most large-cap tokens posting double-digit weekly losses.</li>
<li>Until broader market confidence returns, altcoins are likely to remain under pressure relative to Bitcoin.</li>
</ul>
<div class="lb-trans"><ul>
<li>山寨币市场在一天内损失了大约 500 亿美元，大多数大盘代币的周损均为双位数。</li>
<li>在更广泛的市场信心恢复之前，山寨币相对于比特币可能仍将承受压力。</li>
</ul>
</div><hr/>
<div class="lb-trans"><hr/>
</div>

随着卖压加剧，山寨币市场出现了显著的回调