<p>比特币本周的急剧反转使其跌出了全球市值前十的资产，凸显了近期市场价格波动的困难，因为市场仍在消化加密货币行业有史以来最大规模的强制清算。</p>
<p>比特币（BTC）徘徊在每枚约 83,000 美元的水平，其市值已降至约 1.65 万亿美元，全球排名第 11。这使其位于沙特阿美（Saudi Aramco）之后，后者是国有石油巨头，以及台湾半导体制造公司（TSMC）之下，依据市场数据追踪者的统计。</p>
<p>相比之下，黄金在创纪录的反弹后大幅攀升，稳居全球最大资产的位置。这一涨幅伴随着黄金期货活动的爆炸性增长，最近的数据由加密货币交易所 MEXC 强调了这一趋势。</p>
<p>比特币的市值在 10 月份达到了近 2.5 万亿美元的峰值，当时价格短暂突破 126,000 美元。最新的抛售是由约 16 亿美元的多头清算驱动的，价格迅速从接近 90,000 美元跌至 82,000 美元以下。</p>
<p>这一变动重新点燃了人们对全球最大加密货币可能处于长期熊市早期阶段的担忧。</p>
<p><em><strong>相关：</strong></em> <em><strong>揭开 “比特币彩票” 神话：NiceHash 澄清未标记的 BTC 区块</strong></em></p>
<p><strong>宏观背景考验比特币的韧性</strong></p>
<p>比特币的剧烈抛售为数字资产市场增添了另一层不确定性，正值市场猜测美国总统唐纳德·特朗普考虑提名加密友好的凯文·沃什（Kevin Warsh）取代美联储主席杰罗姆·鲍威尔（Jerome Powell）之际。</p>
<p>特朗普随后确认了沃什的提名，正式化了早前在市场上流传的猜测。沃什在鲍威尔的任期于 5 月到期时需要参议院的确认才能担任美联储领导职务。</p>
<p>尽管市场条件可能支持比特币，但比特币的表现显著落后于其他资产，滞后于风险相关市场如股票和传统避风港如黄金。</p>
<p>市场做市商 Wintermute 最近的分析认为，2025 年可能标志着比特币传统四年价格周期的决定性突破，挑战市场上最持久的叙事之一。然而，该公司表示，2026 年更广泛复苏的前景仍高度依赖于多种因素。</p>
<p>根据该分析，持续的市场整体反弹可能取决于几个因素，包括交易所交易基金和数字资产国库公司的扩展授权，以及比特币和以太坊（ETH）的持续资金流入的回归。</p>
<p>Wintermute 表示，这些资金流入，而不仅仅是短期价格波动，将是产生财富效应的必要条件，从而扩展到更广泛的加密市场。</p>
<p><em><strong>相关：</strong></em> 加密货币的 2026 年投资手册：比特币、稳定币基础设施、代币化资产</p>

<p>比特币已跌出全球前十大资产，目前以 1.65 万亿美元的市值排名第 11 位，此次下跌是由于 16 亿美元的多头平仓引发的重大抛售。这一 decline 引发了人们对加密货币可能进入熊市的担忧。与此同时，黄金已飙升成为最大的资产，关于凯文·沃什被提名为新任联邦储备主席的猜测也在增加。分析师表示，比特币的复苏可能取决于 ETF 的规定以及对数字资产的持续流入等因素</p>

<p>Bitcoin’s sharp reversal this week has pushed it outside the world’s 10 largest assets by market capitalization, underscoring how difficult price action has been in recent months as markets continue to digest the cryptocurrency industry’s largest forced liquidation on record.</p>
<div class="lb-trans"><p>比特币本周的急剧反转使其跌出了全球市值前十的资产，凸显了近期市场价格波动的困难，因为市场仍在消化加密货币行业有史以来最大规模的强制清算。</p>
</div><p>Hovering around $83,000 per coin, Bitcoin’s (BTC) market capitalization has slipped to about $1.65 trillion, ranking it 11th globally. That places it just behind Saudi Aramco, the state-run oil giant, and below Taiwan Semiconductor Manufacturing Co. (TSMC), according to market data trackers.</p>
<div class="lb-trans"><p>比特币（BTC）徘徊在每枚约 83,000 美元的水平，其市值已降至约 1.65 万亿美元，全球排名第 11。这使其位于沙特阿美（Saudi Aramco）之后，后者是国有石油巨头，以及台湾半导体制造公司（TSMC）之下，依据市场数据追踪者的统计。</p>
</div><p>By contrast, gold has surged to the top spot by a wide margin following a record-breaking rally, cementing its position as the world’s largest asset. The gains have been accompanied by explosive growth in gold futures activity, a trend highlighted in recent data by cryptocurrency exchange MEXC.</p>
<div class="lb-trans"><p>相比之下，黄金在创纪录的反弹后大幅攀升，稳居全球最大资产的位置。这一涨幅伴随着黄金期货活动的爆炸性增长，最近的数据由加密货币交易所 MEXC 强调了这一趋势。</p>
</div><p>Bitcoin’s market capitalization peaked at nearly $2.5 trillion in October, when prices briefly topped $126,000. The latest sell-off was driven by about $1.6 billion in long liquidations, as prices rapidly fell to below $82,000 from near $90,000.</p>
<div class="lb-trans"><p>比特币的市值在 10 月份达到了近 2.5 万亿美元的峰值，当时价格短暂突破 126,000 美元。最新的抛售是由约 16 亿美元的多头清算驱动的，价格迅速从接近 90,000 美元跌至 82,000 美元以下。</p>
</div><p>The move has reignited concerns that the world’s largest cryptocurrency may be in the early stages of a prolonged bear market.</p>
<div class="lb-trans"><p>这一变动重新点燃了人们对全球最大加密货币可能处于长期熊市早期阶段的担忧。</p>
</div><p><em><strong>Related:</strong></em> <em><strong>Behind the ‘Bitcoin lottery’ myth: NiceHash clarifies untagged BTC blocks</strong></em></p>
<div class="lb-trans"><p><em><strong>相关：</strong></em> <em><strong>揭开 “比特币彩票” 神话：NiceHash 澄清未标记的 BTC 区块</strong></em></p>
</div><p><strong>Macro backdrop tests Bitcoin’s resilience</strong></p>
<div class="lb-trans"><p><strong>宏观背景考验比特币的韧性</strong></p>
</div><p>Bitcoin’s violent sell-off added another layer of uncertainty to digital asset markets, unfolding amid speculation that US President Donald Trump was considering crypto-friendly Kevin Warsh to replace Federal Reserve Chair Jerome Powell.</p>
<div class="lb-trans"><p>比特币的剧烈抛售为数字资产市场增添了另一层不确定性，正值市场猜测美国总统唐纳德·特朗普考虑提名加密友好的凯文·沃什（Kevin Warsh）取代美联储主席杰罗姆·鲍威尔（Jerome Powell）之际。</p>
</div><p>Trump later confirmed Warsh’s nomination, formalizing what had earlier circulated as market speculation. Warsh needs Senate confirmation before he assumes the role of Fed leadership when Powell’s term expires in May.</p>
<div class="lb-trans"><p>特朗普随后确认了沃什的提名，正式化了早前在市场上流传的猜测。沃什在鲍威尔的任期于 5 月到期时需要参议院的确认才能担任美联储领导职务。</p>
</div><p>Even so, Bitcoin has significantly underperformed other assets, lagging both risk-associated markets such as equities and traditional havens like gold, despite conditions that might otherwise be supportive, including a sharply weaker US dollar.</p>
<div class="lb-trans"><p>尽管市场条件可能支持比特币，但比特币的表现显著落后于其他资产，滞后于风险相关市场如股票和传统避风港如黄金。</p>
</div><p>A recent analysis by market maker Wintermute argued that 2025 could mark a decisive break from Bitcoin’s traditional four-year price cycle, challenging one of the market’s most enduring narratives. However, the firm said the outlook for a broader recovery in 2026 remains highly conditional.</p>
<div class="lb-trans"><p>市场做市商 Wintermute 最近的分析认为，2025 年可能标志着比特币传统四年价格周期的决定性突破，挑战市场上最持久的叙事之一。然而，该公司表示，2026 年更广泛复苏的前景仍高度依赖于多种因素。</p>
</div><p>According to the analysis, a sustained, market-wide rebound would likely hinge on several factors, including expanded mandates from exchange-traded funds and digital-asset treasury companies, as well as a return of sustained inflows into Bitcoin and Ether (ETH).</p>
<div class="lb-trans"><p>根据该分析，持续的市场整体反弹可能取决于几个因素，包括交易所交易基金和数字资产国库公司的扩展授权，以及比特币和以太坊（ETH）的持续资金流入的回归。</p>
</div><p>Wintermute said those inflows, rather than short-term price moves alone, would be needed to generate a wealth effect that could spread to the broader crypto market.</p>
<div class="lb-trans"><p>Wintermute 表示，这些资金流入，而不仅仅是短期价格波动，将是产生财富效应的必要条件，从而扩展到更广泛的加密市场。</p>
</div><p><em><strong>Related:</strong></em> Crypto’s 2026 investment playbook: Bitcoin, stablecoin infrastructure, tokenized assets</p>
<div class="lb-trans"><p><em><strong>相关：</strong></em> 加密货币的 2026 年投资手册：比特币、稳定币基础设施、代币化资产</p>
</div>

Liquidations knock Bitcoin out of world’s top 10 assets

- 比特币本周大幅回调，市场资本化降至约 1.65 万亿美元，排名全球第 11 位。  
- 黄金则因创纪录的上涨，成为全球最大资产，市场活动显著增加。  
- 投资者对比特币未来走势的担忧加剧，预计其市场回暖将取决于多项因素。

清算使比特币跌出全球十大资产行列