<p>TradingKey – 比特幣在飆升後暴跌，幾乎跌破 10 萬美元大關，觸發了大規模的清算，並對其短期前景投下陰影。</p>
<p>週一（5 月 12 日）下午 3 點左右，有報道稱美國和中國已達成協議，顯著降低彼此商品的關税。這則消息使比特幣（BTC）飆升至 10.58 萬美元，創下自 2 月份以來的最高水平。</p>
<p>然而，這一漲勢並未持續太久，BTC 很快回落，隨着美國市場的收盤，拋售加速。到週二早些時候，價格已危險地接近 10 萬美元。</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>比特幣價格圖表，來源：CoinMarketCap。</p>
<p>劇烈的波動波及更廣泛的加密市場，導致了一波清算。數據顯示，在過去 24 小時內，有 21.2 萬名交易者被清算，總金額達到 7 億美元——其中 4.8 億美元來自多頭頭寸，2.2 億美元來自空頭。</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>加密清算數據，來源：Coinglass。</p>
<p>此次下跌主要受到兩個關鍵因素的驅動：</p>
<p>1. 在美中關税消息公佈後，投資者進行獲利了結。</p>
<p>2. 美聯儲理事庫格爾的言論稱關税仍然帶來重大經濟風險，強化了利率將保持不變的預期。</p>
<p>隨着美中在關税問題上取得重大進展，貿易政策帶來的進一步上行催化劑似乎有限。下一個可能對市場產生重大影響的事件將是美聯儲的利率決定。大多數分析師預計在 7 月或更晚之前不會降息，這意味着加密市場可能在 5 月至 6 月的政策空窗期面臨調整階段。</p>
<p>瞭解更多</p>

GBTC

<p>比特幣經歷了極端的波動，在美國與中國減税消息發佈後飆升至 105,800 美元，但很快跌至接近 100,000 美元，導致 21.2 萬個頭寸被平倉，價值達 7 億美元。此次拋售受到獲利了結和對關税帶來的經濟風險的擔憂推動，市場預期利率將保持不變。分析師預測，加密貨幣將進入一個修正階段，直到美聯儲的利率決定，可能會將降息推遲到 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 – 比特幣在飆升後暴跌，幾乎跌破 10 萬美元大關，觸發了大規模的清算，並對其短期前景投下陰影。</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>週一（5 月 12 日）下午 3 點左右，有報道稱美國和中國已達成協議，顯著降低彼此商品的關税。這則消息使比特幣（BTC）飆升至 10.58 萬美元，創下自 2 月份以來的最高水平。</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，這一漲勢並未持續太久，BTC 很快回落，隨着美國市場的收盤，拋售加速。到週二早些時候，價格已危險地接近 10 萬美元。</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>比特幣價格圖表，來源：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>劇烈的波動波及更廣泛的加密市場，導致了一波清算。數據顯示，在過去 24 小時內，有 21.2 萬名交易者被清算，總金額達到 7 億美元——其中 4.8 億美元來自多頭頭寸，2.2 億美元來自空頭。</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>加密清算數據，來源：Coinglass。</p>
</div><p>The downturn was driven by two key factors:</p>
<div class="lb-trans"><p>此次下跌主要受到兩個關鍵因素的驅動：</p>
</div><p>1. Profit-taking after the U.S.-China tariff news played out.</p>
<div class="lb-trans"><p>1. 在美中關税消息公佈後，投資者進行獲利了結。</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. 美聯儲理事庫格爾的言論稱關税仍然帶來重大經濟風險，強化了利率將保持不變的預期。</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>隨着美中在關税問題上取得重大進展，貿易政策帶來的進一步上行催化劑似乎有限。下一個可能對市場產生重大影響的事件將是美聯儲的利率決定。大多數分析師預計在 7 月或更晚之前不會降息，這意味着加密市場可能在 5 月至 6 月的政策空窗期面臨調整階段。</p>
</div><p>Find out more</p>
<div class="lb-trans"><p>瞭解更多</p>
</div>

21 萬次清算！比特幣先是飆升然後暴跌，多頭和空頭均遭受雙重打擊！