<p>, /PRNewswire/ -- Bybit，全球第二大按交易量计算的加密货币交易所，发布了最新的 <strong>Bybit x Block Scholes 加密衍生品分析报告</strong>，分析了投资者重新评估美国货币政策预期时数字资产的近期市场压力。</p>
<p><strong>主要发现包括：</strong></p>
<ul>
<li>加密市场与全球风险资产一起大幅抛售</li>
<li>比特币和以太坊的短期隐含波动率急剧上升</li>
<li>尽管价格大幅下跌，但长期波动率反应有限</li>
<li>衍生品参与度低迷，交易量疲软</li>
</ul>
<p>报告显示，加密货币在全球市场的更广泛抛售中受到影响，这一抛售是由于对美联储政策前景的快速重新定价以及美元的重新走强。此举在 24 小时内抹去了大约 4.7% 的总加密市场市值，损失主要集中在主要代币上。</p>
<p>比特币跌至约 81,000 美元，较 2025 年 10 月 6 日的 126,100 美元高点下跌超过 30%，而以太坊甚至跌破了 2,700 美元，远低于 3,000 美元的心理关口。按年初至今计算，比特币和以太坊分别下跌超过 5% 和 8%。</p>
<p>这一抛售导致短期期权隐含波动率急剧上升。一周到期的平值隐含波动率比特币约为 46%，以太坊约为 58%。然而，长期隐含波动率并未如此激烈上升，这表明交易者主要在定价短期的不确定性，而非市场压力的持续期。</p>
<p>衍生品市场参与度依然低迷。永续期货合约的未平仓合约数量并未随现货价格大幅下降而显著减少，仍远低于 2025 年 10 月清算事件前的水平。永续合约的日交易量也显著低于 2025 年前三季度的水平，表明市场参与者依然保持谨慎。</p>
<p>&#34;加密货币在全球资产的抛售中受到影响，市场在假设美联储主席的立场不再鸽派的情况下，积极重新定价美联储的政策前景，&#34; <strong>Bybit Learn 首席市场分析师 Han Tan 表示。</strong> &#34;随着美国上市的比特币 ETF 连续三个月出现净流出，交易者将密切关注 80,000 美元的水平。若持续跌破这一心理重要线，可能会将比特币的下滑延续至中 70,000 美元区域，重回解放日后的水平。&#34;</p>
<p>报告还指出，近期联邦公开市场委员会的沟通对长期波动率预期影响有限。尽管语气略显鹰派，并强调了观望的态度，但比特币和以太坊的长期隐含波动率自 2025 年末达到峰值以来持续走低。</p>
<p>总体分析表明，尽管短期波动性加剧，但长期波动率和交易活动缺乏持续上升，反映出市场环境的参与度受限和谨慎的定位。完整的 Bybit x Block Scholes 报告可供下载。</p>
<p>#Bybit / #CryptoArk / #BybitLearn</p>
<p><strong>关于 Bybit</strong></p>
<p>Bybit 是全球第二大按交易量计算的加密货币交易所，服务于超过 8000 万用户的全球社区。成立于 2018 年，Bybit 通过创建一个更简单、开放和平等的生态系统，重新定义了去中心化世界的开放性。Bybit 专注于 Web3，与领先的区块链协议战略合作，提供强大的基础设施并推动链上创新。以其安全的保管、多样化的市场、直观的用户体验和先进的区块链工具而闻名，Bybit 架起了传统金融与去中心化金融之间的桥梁，赋能建设者、创作者和爱好者，释放 Web3 的全部潜力。在 Bybit.com 上发现去中心化金融的未来。</p>
<p>有关 Bybit 的更多详细信息，请访问 Bybit Press</p>
<p>如需媒体咨询，请联系： [email protected]</p>
<p>如需更新，请关注：Bybit 的社区和社交媒体</p>
<p>Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube</p>
<p>来源 Bybit</p>
<p><img src="https://imageproxy.pbkrs.com/https://rt.prnewswire.com/rt.gif/query-RGF0ZUlkPTIwMjYwMTMwJk5ld3NJdGVtSWQ9Q043NTIzOCZUcmFuc21pc3Npb25fSWQ9MjAyNjAxMzAxMDQyUFJfTkVXU19VU1BSX19fX19DTjc1MjM4?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://rt.prnewswire.com/rt.gif/query-RGF0ZUlkPTIwMjYwMTMwJk5ld3NJdGVtSWQ9Q043NTIzOCZUcmFuc21pc3Npb25fSWQ9MjAyNjAxMzAxMDQyUFJfTkVXU19VU1BSX19fX19DTjc1MjM4"/></p>

<p>Bybit 发布了一份报告，分析了加密领域近期的市场压力，强调了由于投资者重新评估美国货币政策而导致的数字资产广泛抛售。主要发现包括比特币和以太坊的短期隐含波动率急剧上升，比特币价格跌至约 81,000 美元，以太坊跌至 2,700 美元以下。尽管如此，长期波动率仍然保持低迷，表明市场参与者谨慎。报告指出，尽管短期波动性增加，但缺乏持续的长期波动性反映出市场环境的克制。完整报告可供下载</p>

<p>, /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has released the latest <strong>Bybit x Block Scholes Crypto Derivatives Analytics report</strong>, analyzing recent market stress across digital assets as investors reassess expectations for United States monetary policy.</p>
<div class="lb-trans"><p>, /PRNewswire/ -- Bybit，全球第二大按交易量计算的加密货币交易所，发布了最新的 <strong>Bybit x Block Scholes 加密衍生品分析报告</strong>，分析了投资者重新评估美国货币政策预期时数字资产的近期市场压力。</p>
</div><p><strong>Key findings include:</strong></p>
<div class="lb-trans"><p><strong>主要发现包括：</strong></p>
</div><ul>
<li>Broad crypto market selloff alongside global risk assets</li>
<li>Sharp rise in short-term implied volatility for Bitcoin and Ether</li>
<li>Limited response in longer-dated volatility despite steep price declines</li>
<li>Muted derivatives participation and subdued trading volumes</li>
</ul>
<div class="lb-trans"><ul>
<li>加密市场与全球风险资产一起大幅抛售</li>
<li>比特币和以太坊的短期隐含波动率急剧上升</li>
<li>尽管价格大幅下跌，但长期波动率反应有限</li>
<li>衍生品参与度低迷，交易量疲软</li>
</ul>
</div><p>The report shows that cryptocurrencies have been caught in a wider selloff across global markets, driven by a rapid repricing of the Federal Reserve's policy outlook and renewed strength in the US dollar. The move erased roughly 4.7 percent of total crypto market capitalization in 24 hours, with losses concentrated among major tokens.</p>
<div class="lb-trans"><p>报告显示，加密货币在全球市场的更广泛抛售中受到影响，这一抛售是由于对美联储政策前景的快速重新定价以及美元的重新走强。此举在 24 小时内抹去了大约 4.7% 的总加密市场市值，损失主要集中在主要代币上。</p>
</div><p>Bitcoin fell to around $81,000, placing it more than 30 percent below its Oct. 6, 2025 high of $126,100, while Ether even dipped below $2,700, dropping well below the $3,000 psychological level. On a year-to-date basis, Bitcoin and Ether are down more than 5 percent and 8 percent, respectively.</p>
<div class="lb-trans"><p>比特币跌至约 81,000 美元，较 2025 年 10 月 6 日的 126,100 美元高点下跌超过 30%，而以太坊甚至跌破了 2,700 美元，远低于 3,000 美元的心理关口。按年初至今计算，比特币和以太坊分别下跌超过 5% 和 8%。</p>
</div><p>That selloff translated into a sharp increase in short-term options implied volatility. One-week at-the-money implied volatility climbed to about 46 percent for Bitcoin and roughly 58 percent for Ether. However, longer-dated volatility did not rise as aggressively, suggesting that traders are primarily pricing in elevated near-term uncertainty rather than a prolonged period of market stress.</p>
<div class="lb-trans"><p>这一抛售导致短期期权隐含波动率急剧上升。一周到期的平值隐含波动率比特币约为 46%，以太坊约为 58%。然而，长期隐含波动率并未如此激烈上升，这表明交易者主要在定价短期的不确定性，而非市场压力的持续期。</p>
</div><p>Derivatives market participation remains subdued. Open interest in perpetual futures contracts has not fallen sharply alongside spot prices and remains well below levels recorded ahead of the October 2025 liquidation event. Daily trading volumes in perpetual contracts are also significantly lower than those seen during the first three quarters of 2025, indicating continued caution among market participants.</p>
<div class="lb-trans"><p>衍生品市场参与度依然低迷。永续期货合约的未平仓合约数量并未随现货价格大幅下降而显著减少，仍远低于 2025 年 10 月清算事件前的水平。永续合约的日交易量也显著低于 2025 年前三季度的水平，表明市场参与者依然保持谨慎。</p>
</div><p>&#34;Cryptos have been caught up in the selloff across global assets, as markets aggressively reprice the Fed policy outlook under a presumably less-dovish Fed Chair,&#34; <strong>said Han Tan, Chief market analyst at Bybit Learn.</strong> &#34;With US-listed Bitcoin ETFs posting three straight months of net outflows, traders will be keeping a wary eye on the $80,000 level. A sustained break below that psychologically important line may extend Bitcoin's slump into the mid-$70,000 region, revisiting levels not seen since the aftermath of Liberation Day.&#34;</p>
<div class="lb-trans"><p>&#34;加密货币在全球资产的抛售中受到影响，市场在假设美联储主席的立场不再鸽派的情况下，积极重新定价美联储的政策前景，&#34; <strong>Bybit Learn 首席市场分析师 Han Tan 表示。</strong> &#34;随着美国上市的比特币 ETF 连续三个月出现净流出，交易者将密切关注 80,000 美元的水平。若持续跌破这一心理重要线，可能会将比特币的下滑延续至中 70,000 美元区域，重回解放日后的水平。&#34;</p>
</div><p>The report also notes that recent Federal Open Market Committee communications had little impact on longer-term volatility expectations. Despite a slightly hawkish tone and an emphasis on a wait-and-see approach, implied volatility across longer tenors for both Bitcoin and Ether has continued to trend lower since peaking in late 2025.</p>
<div class="lb-trans"><p>报告还指出，近期联邦公开市场委员会的沟通对长期波动率预期影响有限。尽管语气略显鹰派，并强调了观望的态度，但比特币和以太坊的长期隐含波动率自 2025 年末达到峰值以来持续走低。</p>
</div><p>Overall, the analysis suggests that while short-term volatility has intensified, the absence of a sustained rise in longer-dated volatility and trading activity reflects a market environment marked by restrained participation and cautious positioning. The full Bybit x Block Scholes report is available for download.</p>
<div class="lb-trans"><p>总体分析表明，尽管短期波动性加剧，但长期波动率和交易活动缺乏持续上升，反映出市场环境的参与度受限和谨慎的定位。完整的 Bybit x Block Scholes 报告可供下载。</p>
</div><p>#Bybit / #CryptoArk / #BybitLearn</p>
<div class="lb-trans"><p>#Bybit / #CryptoArk / #BybitLearn</p>
</div><p><strong>About Bybit</strong></p>
<div class="lb-trans"><p><strong>关于 Bybit</strong></p>
</div><p>Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.</p>
<div class="lb-trans"><p>Bybit 是全球第二大按交易量计算的加密货币交易所，服务于超过 8000 万用户的全球社区。成立于 2018 年，Bybit 通过创建一个更简单、开放和平等的生态系统，重新定义了去中心化世界的开放性。Bybit 专注于 Web3，与领先的区块链协议战略合作，提供强大的基础设施并推动链上创新。以其安全的保管、多样化的市场、直观的用户体验和先进的区块链工具而闻名，Bybit 架起了传统金融与去中心化金融之间的桥梁，赋能建设者、创作者和爱好者，释放 Web3 的全部潜力。在 Bybit.com 上发现去中心化金融的未来。</p>
</div><p>For more details about Bybit, please visit Bybit Press</p>
<div class="lb-trans"><p>有关 Bybit 的更多详细信息，请访问 Bybit Press</p>
</div><p>For media inquiries, please contact: [email protected]</p>
<div class="lb-trans"><p>如需媒体咨询，请联系： [email protected]</p>
</div><p>For updates, please follow: Bybit's Communities and Social Media</p>
<div class="lb-trans"><p>如需更新，请关注：Bybit 的社区和社交媒体</p>
</div><p>Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube</p>
<div class="lb-trans"><p>Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube</p>
</div><p>SOURCE Bybit</p>
<div class="lb-trans"><p>来源 Bybit</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://rt.prnewswire.com/rt.gif/query-RGF0ZUlkPTIwMjYwMTMwJk5ld3NJdGVtSWQ9Q043NTIzOCZUcmFuc21pc3Npb25fSWQ9MjAyNjAxMzAxMDQyUFJfTkVXU19VU1BSX19fX19DTjc1MjM4" alt="" original-src="https://rt.prnewswire.com/rt.gif?NewsItemId=CN75238&amp;Transmission_Id=202601301042PR_NEWS_USPR_____CN75238&amp;DateId=20260130"/></p>

10:42 ET
			
			
				Bybit and Block Scholes Report Notes Short-Term Crypto Volatility Spike as Markets Reprice Fed Outlook

- Bybit 发布最新的加密衍生品分析报告，揭示市场压力。  
- 报告指出，加密市场因美联储政策预期调整而大幅下挫，复合市值减少 4.7%。  
- 比特币和以太坊短期隐含波动率上升，长期波动率变动有限，交易参与度低迷。

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Bybit 和 Block Scholes 的报告指出，随着市场重新调整对美联储前景的预期，短期内加密货币的波动性出现了激增