<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772110448.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://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772110448.png"/></p>
<p>根据多项分析，2026 年的加密货币熊市正式来临。</p>
<p>经过几个月的波动，下降趋势已经显而易见：比特币从高点下跌了 50%，而大多数顶级山寨币的跌幅超过了 60%。</p>
<p>在加密货币的世界里，熊市通常被定义为价格下跌 20%，但正如我们现在所看到的，许多项目的跌幅在 70% 到 90% 之间是很常见的。</p>
<p>这种变化彻底改变了市场的情绪。</p>
<p>投资者情绪变得极为消极，&#34;恐惧与贪婪指数&#34;达到了 7，显示出极度恐惧。</p>
<p>大型机构投资者也在撤回资金，仅在连续第五周的抛售中，比特币和其他数字资产的流出达到了 2.88 亿美元。</p>
<p>虽然大多数代币继续创出更低的高点和低点，但像 HYPE、WhiteBIT Coin (WBT)、XMR、BNB 和 TRX 等少数资产证明并非每个币都遵循相同的下行路径。</p>
<h2>下行市场的策略</h2>
<p>在这样的市场中，单纯的&#34;持有和希望&#34;的旧策略正在被更积极的方法所取代。专业交易者正在使用几种方法来应对价格下跌：</p>
<ul>
<li>做空和看跌期权：押注价格将继续下跌以保护投资组合。</li>
<li>区间交易：在小幅价格波动中买入和卖出，而整体市场保持平稳。</li>
<li>战略性积累：以大幅折扣购买高质量资产，为下一个周期做准备。</li>
</ul>
<p>虽然大多数山寨币似乎没有底部，但 HYPE 在比特币等顶级资产面前表现出强劲。</p>
<p>目前它下跌约 50%，而比特币自历史高点以来下跌超过 52%。</p>
<p>同样，XMR 目前自历史高点仅下跌 56%。</p>
<p>Monero 的技术前景显示出看涨偏向，目标为 375 美元的 200 日 EMA，受到大量鲸鱼兴趣的支持。</p>
<p>更具韧性的是 TRX，自历史高点以来仅下跌 37%，展现出显著的相对强度。</p>
<p>同样，WBT 也成功维持在 47 美元左右。</p>
<p>即使在最严重的抛售周，它也在 46 美元找到了强有力的支撑。这种稳定性源于该币的直接实用性。</p>
<p>因为它用于 Whitechain 网络的燃气费用，并在其本地交易所提供交易折扣，即使在市场恐慌时，人们也有持续的理由持有和使用它。</p>
<h2>机构基准的作用</h2>
<p>帮助某些资产保持稳定的一个主要因素是它们受到全球金融领袖的认可和不断增长的生态系统。</p>
<p>例如，BNB 自历史高点以来仅下跌 57%，并继续看到社区的增长；到 2025 年底，BNB 持有者达到了 2.79 亿个钱包。</p>
<p>这代表着数百万人选择实用性而非投机。</p>
<p>尽管市场整体崩溃，WhiteBIT Coin 仍然是五个独立的 S&amp;P 道琼斯加密货币指数的一部分。</p>
<p>在熊市期间，这种纳入至关重要，因为它将该币置于与投机代币不同的类别。</p>
<p>要成为 S&amp;P 指数的一部分，资产必须满足高透明度和流动性的标准。这种机构的&#34;印章&#34;给予大型投资者信心。</p>
<p>虽然许多人正在出售比特币以减少损失，但他们也在关注那些表现出&#34;低贝塔&#34;行为的指数资产，这意味着它们的波动性不如市场其他部分剧烈。</p>
<p>对于 WBT 来说，这创造了一个零售驱动的代币所没有的价格底线。</p>
<h2>为什么实用性是最佳对冲</h2>
<p>当前的下行趋势提醒我们，在熊市中，只有具有现实价值的资产才能生存。当炒作消失时，一个币必须有存在的理由。</p>
<p>对于 Whitechain 生态系统来说，这个理由是明确的。</p>
<p>该网络继续处理交易，交易所继续为数百万用户服务，所有这些都需要本地币才能运作。</p>
<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772109806.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://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772109806.png"/></p>
<p>我们在 BNB 生态系统中也看到了这种&#34;功能性需求&#34;。</p>
<p>其巨大的 DeFi 存在不可否认，数十亿美元被锁定在 BNB 链上的 DeFi 协议中，为全球 1300 亿到 1400 亿美元的 DeFi 市场做出贡献。</p>
<p>这证明了整合和信任。</p>
<p>此外，大型基金和合作伙伴认可 BNB 的可信度；这种机构信心并非来自炒作，而是来自经过验证的结果。</p>
<p>这就是为什么 WBT、BNB 和 TRX 避免了其他地方 70% 到 90% 的跌幅。</p>
<p>它们没有遵循整体市场的&#34;更低高点&#34;模式，而是保持了&#34;阶梯式&#34;结构，在其他代币下跌时保持稳定。</p>
<p>随着机构流出继续对比特币施加压力，焦点正转向这些能够经受住风暴的基础设施级资产。</p>
<h2>展望底部</h2>
<p>历史表明，熊市最终会结束，但并非每个币都能渡过难关。</p>
<p>下一轮牛市的领导者通常是在恐惧达到最高时表现出最强劲的那些。</p>
<p>通过保持支撑位并在全球基准中维持地位或增加其链上实用性，像 WhiteBIT Coin、BNB 和 XMR 这样的币正在为这一周期的关键收益者定位。</p>
<p>对于希望在当前 2026 年熊市中导航的投资者来说，教训很简单：超越恐惧，关注那些实际上被用来构建数字经济未来的资产。</p>
<p>本文首发于 Invezz，标题为《2026 年熊市来临：为何某些资产仍显示出强劲表现》。</p>

<p>2026 年的加密货币熊市已确认，比特币下跌 50%，许多山寨币下跌超过 60%。投资者情绪消极，"恐惧与贪婪指数"得分为 7。尽管市场下滑，一些资产如 HYPE、WBT、XMR、BNB 和 TRX 表现出韧性。投资策略已从持有转向积极交易方法。机构认可和实用性是稳定的关键，WBT 和 BNB 等资产因其在现实世界中的应用和被纳入标准普尔指数而保持价值，突显了在熊市中功能性需求的重要性</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772110448.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772110448.png"/></p>
<p>According to multiple analytics, the cryptocurrency bear market of 2026 is officially here.</p>
<div class="lb-trans"><p>根据多项分析，2026 年的加密货币熊市正式来临。</p>
</div><p>After months of volatility, the downward trend is clear: Bitcoin has dropped 50% from its highs, and most top altcoins have plunged more than 60%.</p>
<div class="lb-trans"><p>经过几个月的波动，下降趋势已经显而易见：比特币从高点下跌了 50%，而大多数顶级山寨币的跌幅超过了 60%。</p>
</div><p>In the world of crypto, a bear market is usually defined by a price drop of 20%, but as we are seeing now, drops of 70% to 90% are common for many projects.</p>
<div class="lb-trans"><p>在加密货币的世界里，熊市通常被定义为价格下跌 20%，但正如我们现在所看到的，许多项目的跌幅在 70% 到 90% 之间是很常见的。</p>
</div><p>This shift has changed the mood of the market completely.</p>
<div class="lb-trans"><p>这种变化彻底改变了市场的情绪。</p>
</div><p>Investor sentiment has turned deeply negative, with the &#34;Fear and Greed Index&#34; hitting a score of 7, signaling extreme fear.</p>
<div class="lb-trans"><p>投资者情绪变得极为消极，&#34;恐惧与贪婪指数&#34;达到了 7，显示出极度恐惧。</p>
</div><p>Large institutional investors are also pulling back, with $288 million in outflows from Bitcoin and other digital assets recorded in just the fifth straight week of selling.</p>
<div class="lb-trans"><p>大型机构投资者也在撤回资金，仅在连续第五周的抛售中，比特币和其他数字资产的流出达到了 2.88 亿美元。</p>
</div><p>While most tokens continue to make lower highs and lower lows, a small group of assets like HYPE, WhiteBIT Coin (WBT), XMR, BNB, and TRX is proving that not every coin follows the same downward path.</p>
<div class="lb-trans"><p>虽然大多数代币继续创出更低的高点和低点，但像 HYPE、WhiteBIT Coin (WBT)、XMR、BNB 和 TRX 等少数资产证明并非每个币都遵循相同的下行路径。</p>
</div><h2>Strategies for a downward market</h2>
<div class="lb-trans"><h2>下行市场的策略</h2>
</div><p>In a market like this, the old strategy of simply &#34;holding and hoping&#34; is being replaced by more active approaches. Professional traders are using several methods to handle the price drops:</p>
<div class="lb-trans"><p>在这样的市场中，单纯的&#34;持有和希望&#34;的旧策略正在被更积极的方法所取代。专业交易者正在使用几种方法来应对价格下跌：</p>
</div><ul>
<li>Short Selling and Put Options: Betting that prices will continue to fall to protect a portfolio.</li>
<li>Range Trading: Buying and selling within small price gaps while the broader market stays flat.</li>
<li>Strategic Accumulation: Buying high-quality assets at large discounts to prepare for the next cycle.</li>
</ul>
<div class="lb-trans"><ul>
<li>做空和看跌期权：押注价格将继续下跌以保护投资组合。</li>
<li>区间交易：在小幅价格波动中买入和卖出，而整体市场保持平稳。</li>
<li>战略性积累：以大幅折扣购买高质量资产，为下一个周期做准备。</li>
</ul>
</div><p>While most altcoins don't seem to have a bottom, HYPE has shown strength against top assets like Bitcoin.</p>
<div class="lb-trans"><p>虽然大多数山寨币似乎没有底部，但 HYPE 在比特币等顶级资产面前表现出强劲。</p>
</div><p>It is currently down around 50%, while Bitcoin is down by more than 52% since its all-time high.</p>
<div class="lb-trans"><p>目前它下跌约 50%，而比特币自历史高点以来下跌超过 52%。</p>
</div><p>Similarly, XMR is currently only 56% down since ATH.</p>
<div class="lb-trans"><p>同样，XMR 目前自历史高点仅下跌 56%。</p>
</div><p>The technical outlook for Monero shows a bullish bias, targeting the 200-day EMA at $375, supported by reports of huge whale interest.</p>
<div class="lb-trans"><p>Monero 的技术前景显示出看涨偏向，目标为 375 美元的 200 日 EMA，受到大量鲸鱼兴趣的支持。</p>
</div><p>Even more resilient is TRX, which remains only 37% down since ATH, showcasing significant relative strength.</p>
<div class="lb-trans"><p>更具韧性的是 TRX，自历史高点以来仅下跌 37%，展现出显著的相对强度。</p>
</div><p>Similarly, WBT has managed to hold its ground around the $47 mark.</p>
<div class="lb-trans"><p>同样，WBT 也成功维持在 47 美元左右。</p>
</div><p>Even during the heaviest selling weeks, it has found strong support at $46. This stability is a result of the coin’s direct utility.</p>
<div class="lb-trans"><p>即使在最严重的抛售周，它也在 46 美元找到了强有力的支撑。这种稳定性源于该币的直接实用性。</p>
</div><p>Because it is used for gas fees on the Whitechain network and offers trading discounts on its native exchange, there is a constant reason for people to hold and use it, even when the rest of the market is in a panic.</p>
<div class="lb-trans"><p>因为它用于 Whitechain 网络的燃气费用，并在其本地交易所提供交易折扣，即使在市场恐慌时，人们也有持续的理由持有和使用它。</p>
</div><h2>The role of institutional benchmarks</h2>
<div class="lb-trans"><h2>机构基准的作用</h2>
</div><p>A major factor helping certain assets stay stable is their recognition by global financial leaders and growing ecosystems.</p>
<div class="lb-trans"><p>帮助某些资产保持稳定的一个主要因素是它们受到全球金融领袖的认可和不断增长的生态系统。</p>
</div><p>For instance, BNB is currently only 57% down since ATH and continues to see a growing community; by late 2025, BNB holders reached 279M wallets.</p>
<div class="lb-trans"><p>例如，BNB 自历史高点以来仅下跌 57%，并继续看到社区的增长；到 2025 年底，BNB 持有者达到了 2.79 亿个钱包。</p>
</div><p>This represents millions of people choosing utility over speculation.</p>
<div class="lb-trans"><p>这代表着数百万人选择实用性而非投机。</p>
</div><p>Despite the broad market crash, WhiteBIT Coin remains part of five separate S&amp;P Dow Jones Cryptocurrency Indices.</p>
<div class="lb-trans"><p>尽管市场整体崩溃，WhiteBIT Coin 仍然是五个独立的 S&amp;P 道琼斯加密货币指数的一部分。</p>
</div><p>This inclusion is vital during a bear market because it places the coin in a different category than speculative tokens.</p>
<div class="lb-trans"><p>在熊市期间，这种纳入至关重要，因为它将该币置于与投机代币不同的类别。</p>
</div><p>To be part of an S&amp;P index, an asset must meet high standards for transparency and liquidity. This institutional &#34;stamp&#34; gives large investors confidence.</p>
<div class="lb-trans"><p>要成为 S&amp;P 指数的一部分，资产必须满足高透明度和流动性的标准。这种机构的&#34;印章&#34;给予大型投资者信心。</p>
</div><p>While many are selling Bitcoin to cut their losses, they are keeping an eye on indexed assets that show &#34;low-beta&#34; behavior, meaning they don't swing as wildly as the rest of the market.</p>
<div class="lb-trans"><p>虽然许多人正在出售比特币以减少损失，但他们也在关注那些表现出&#34;低贝塔&#34;行为的指数资产，这意味着它们的波动性不如市场其他部分剧烈。</p>
</div><p>For WBT, this has created a price floor that retail-driven coins simply don't have.</p>
<div class="lb-trans"><p>对于 WBT 来说，这创造了一个零售驱动的代币所没有的价格底线。</p>
</div><h2>Why utility is the best hedge</h2>
<div class="lb-trans"><h2>为什么实用性是最佳对冲</h2>
</div><p>The current downtrend is a reminder that in a bear market, only assets with real-world value survive. When the hype disappears, a coin must have a reason to exist.</p>
<div class="lb-trans"><p>当前的下行趋势提醒我们，在熊市中，只有具有现实价值的资产才能生存。当炒作消失时，一个币必须有存在的理由。</p>
</div><p>For the Whitechain ecosystem, that reason is clear.</p>
<div class="lb-trans"><p>对于 Whitechain 生态系统来说，这个理由是明确的。</p>
</div><p>The network continues to process transactions, and the exchange continues to serve millions of users, all of which require the native coin to function.</p>
<div class="lb-trans"><p>该网络继续处理交易，交易所继续为数百万用户服务，所有这些都需要本地币才能运作。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772109806.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/02/image-1772109806.png"/></p>
<p>We see this same &#34;functional demand&#34; in the BNB ecosystem.</p>
<div class="lb-trans"><p>我们在 BNB 生态系统中也看到了这种&#34;功能性需求&#34;。</p>
</div><p>Its massive DeFi presence is undeniable, with billions locked in DeFi protocols on BNB Chain, contributing to a global DeFi market worth $130-140B.</p>
<div class="lb-trans"><p>其巨大的 DeFi 存在不可否认，数十亿美元被锁定在 BNB 链上的 DeFi 协议中，为全球 1300 亿到 1400 亿美元的 DeFi 市场做出贡献。</p>
</div><p>This serves as proof of integration and trust.</p>
<div class="lb-trans"><p>这证明了整合和信任。</p>
</div><p>Furthermore, big funds and partners recognize BNB's credibility; institutional confidence of that kind doesn't come from hype, it comes from proven results.</p>
<div class="lb-trans"><p>此外，大型基金和合作伙伴认可 BNB 的可信度；这种机构信心并非来自炒作，而是来自经过验证的结果。</p>
</div><p>This is why WBT, BNB, and TRX have avoided the 70% to 90% drops seen elsewhere.</p>
<div class="lb-trans"><p>这就是为什么 WBT、BNB 和 TRX 避免了其他地方 70% 到 90% 的跌幅。</p>
</div><p>Instead of following the &#34;lower highs&#34; pattern of the general market, they have maintained a &#34;staircase&#34; structure, staying steady while others fall.</p>
<div class="lb-trans"><p>它们没有遵循整体市场的&#34;更低高点&#34;模式，而是保持了&#34;阶梯式&#34;结构，在其他代币下跌时保持稳定。</p>
</div><p>As institutional outflows continue to put pressure on Bitcoin, the focus is shifting toward these infrastructure-level assets that can weather the storm.</p>
<div class="lb-trans"><p>随着机构流出继续对比特币施加压力，焦点正转向这些能够经受住风暴的基础设施级资产。</p>
</div><h2>Looking toward the bottom</h2>
<div class="lb-trans"><h2>展望底部</h2>
</div><p>History shows that bear markets eventually end, but not every coin makes it to the other side.</p>
<div class="lb-trans"><p>历史表明，熊市最终会结束，但并非每个币都能渡过难关。</p>
</div><p>The leaders of the next bull run are usually the ones that show the most strength when fear is at its highest.</p>
<div class="lb-trans"><p>下一轮牛市的领导者通常是在恐惧达到最高时表现出最强劲的那些。</p>
</div><p>By holding support levels and maintaining status in global benchmarks or growing their on-chain utility, coins like WhiteBIT Coin, BNB, and XMR are positioning themselves as key gainers of this cycle.</p>
<div class="lb-trans"><p>通过保持支撑位并在全球基准中维持地位或增加其链上实用性，像 WhiteBIT Coin、BNB 和 XMR 这样的币正在为这一周期的关键收益者定位。</p>
</div><p>For investors looking to navigate the current 2026 bear market, the lesson is simple: look past the fear and focus on the assets that are actually being used to build the future of the digital economy.</p>
<div class="lb-trans"><p>对于希望在当前 2026 年熊市中导航的投资者来说，教训很简单：超越恐惧，关注那些实际上被用来构建数字经济未来的资产。</p>
</div><p>The post Is 2026 bear market in: why some assets are still showing strength appeared first on Invezz</p>
<div class="lb-trans"><p>本文首发于 Invezz，标题为《2026 年熊市来临：为何某些资产仍显示出强劲表现》。</p>
</div>

2026 年的熊市是否已经到来：为何某些资产依然表现出色