<p>, /PRNewswire/ -- Bybit，全球第二大按交易量計算的加密貨幣交易所，發佈了最新的 <strong>Bybit x Block Scholes 加密衍生品分析報告</strong>，分析了投資者重新評估美國貨幣政策預期時數字資產的近期市場壓力。</p>
<p><strong>主要發現包括：</strong></p>
<ul>
<li>加密市場與全球風險資產一起大幅拋售</li>
<li>比特幣和以太坊的短期隱含波動率急劇上升</li>
<li>儘管價格大幅下跌，但長期波動率反應有限</li>
<li>衍生品參與度低迷，交易量疲軟</li>
</ul>
<p>報告顯示，加密貨幣在全球市場的更廣泛拋售中受到影響，這一拋售是由於對美聯儲政策前景的快速重新定價以及美元的重新走強。此舉在 24 小時內抹去了大約 4.7% 的總加密市場市值，損失主要集中在主要代幣上。</p>
<p>比特幣跌至約 81,000 美元，較 2025 年 10 月 6 日的 126,100 美元高點下跌超過 30%，而以太坊甚至跌破了 2,700 美元，遠低於 3,000 美元的心理關口。按年初至今計算，比特幣和以太坊分別下跌超過 5% 和 8%。</p>
<p>這一拋售導致短期期權隱含波動率急劇上升。一週到期的平值隱含波動率比特幣約為 46%，以太坊約為 58%。然而，長期隱含波動率並未如此激烈上升，這表明交易者主要在定價短期的不確定性，而非市場壓力的持續期。</p>
<p>衍生品市場參與度依然低迷。永續期貨合約的未平倉合約數量並未隨現貨價格大幅下降而顯著減少，仍遠低於 2025 年 10 月清算事件前的水平。永續合約的日交易量也顯著低於 2025 年前三季度的水平，表明市場參與者依然保持謹慎。</p>
<p>&#34;加密貨幣在全球資產的拋售中受到影響，市場在假設美聯儲主席的立場不再鴿派的情況下，積極重新定價美聯儲的政策前景，&#34; <strong>Bybit Learn 首席市場分析師 Han Tan 表示。</strong> &#34;隨着美國上市的比特幣 ETF 連續三個月出現淨流出，交易者將密切關注 80,000 美元的水平。若持續跌破這一心理重要線，可能會將比特幣的下滑延續至中 70,000 美元區域，重回解放日後的水平。&#34;</p>
<p>報告還指出，近期聯邦公開市場委員會的溝通對長期波動率預期影響有限。儘管語氣略顯鷹派，並強調了觀望的態度，但比特幣和以太坊的長期隱含波動率自 2025 年末達到峯值以來持續走低。</p>
<p>總體分析表明，儘管短期波動性加劇，但長期波動率和交易活動缺乏持續上升，反映出市場環境的參與度受限和謹慎的定位。完整的 Bybit x Block Scholes 報告可供下載。</p>
<p>#Bybit / #CryptoArk / #BybitLearn</p>
<p><strong>關於 Bybit</strong></p>
<p>Bybit 是全球第二大按交易量計算的加密貨幣交易所，服務於超過 8000 萬用户的全球社區。成立於 2018 年，Bybit 通過創建一個更簡單、開放和平等的生態系統，重新定義了去中心化世界的開放性。Bybit 專注於 Web3，與領先的區塊鏈協議戰略合作，提供強大的基礎設施並推動鏈上創新。以其安全的保管、多樣化的市場、直觀的用户體驗和先進的區塊鏈工具而聞名，Bybit 架起了傳統金融與去中心化金融之間的橋樑，賦能建設者、創作者和愛好者，釋放 Web3 的全部潛力。在 Bybit.com 上發現去中心化金融的未來。</p>
<p>有關 Bybit 的更多詳細信息，請訪問 Bybit Press</p>
<p>如需媒體諮詢，請聯繫： [email protected]</p>
<p>如需更新，請關注：Bybit 的社區和社交媒體</p>
<p>Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube</p>
<p>來源 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 發佈了一份報告，分析了加密領域近期的市場壓力，強調了由於投資者重新評估美國貨幣政策而導致的數字資產廣泛拋售。主要發現包括比特幣和以太坊的短期隱含波動率急劇上升，比特幣價格跌至約 81,000 美元，以太坊跌至 2,700 美元以下。儘管如此，長期波動率仍然保持低迷，表明市場參與者謹慎。報告指出，儘管短期波動性增加，但缺乏持續的長期波動性反映出市場環境的剋制。完整報告可供下載</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計算的加密貨幣交易所，發佈了最新的 <strong>Bybit x Block Scholes 加密衍生品分析報告</strong>，分析了投資者重新評估美國貨幣政策預期時數字資產的近期市場壓力。</p>
</div><p><strong>Key findings include:</strong></p>
<div class="lb-trans"><p><strong>主要發現包括：</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>加密市場與全球風險資產一起大幅拋售</li>
<li>比特幣和以太坊的短期隱含波動率急劇上升</li>
<li>儘管價格大幅下跌，但長期波動率反應有限</li>
<li>衍生品參與度低迷，交易量疲軟</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>報告顯示，加密貨幣在全球市場的更廣泛拋售中受到影響，這一拋售是由於對美聯儲政策前景的快速重新定價以及美元的重新走強。此舉在 24 小時內抹去了大約 4.7% 的總加密市場市值，損失主要集中在主要代幣上。</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>比特幣跌至約 81,000 美元，較 2025 年 10 月 6 日的 126,100 美元高點下跌超過 30%，而以太坊甚至跌破了 2,700 美元，遠低於 3,000 美元的心理關口。按年初至今計算，比特幣和以太坊分別下跌超過 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>這一拋售導致短期期權隱含波動率急劇上升。一週到期的平值隱含波動率比特幣約為 46%，以太坊約為 58%。然而，長期隱含波動率並未如此激烈上升，這表明交易者主要在定價短期的不確定性，而非市場壓力的持續期。</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>衍生品市場參與度依然低迷。永續期貨合約的未平倉合約數量並未隨現貨價格大幅下降而顯著減少，仍遠低於 2025 年 10 月清算事件前的水平。永續合約的日交易量也顯著低於 2025 年前三季度的水平，表明市場參與者依然保持謹慎。</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;加密貨幣在全球資產的拋售中受到影響，市場在假設美聯儲主席的立場不再鴿派的情況下，積極重新定價美聯儲的政策前景，&#34; <strong>Bybit Learn 首席市場分析師 Han Tan 表示。</strong> &#34;隨着美國上市的比特幣 ETF 連續三個月出現淨流出，交易者將密切關注 80,000 美元的水平。若持續跌破這一心理重要線，可能會將比特幣的下滑延續至中 70,000 美元區域，重回解放日後的水平。&#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>報告還指出，近期聯邦公開市場委員會的溝通對長期波動率預期影響有限。儘管語氣略顯鷹派，並強調了觀望的態度，但比特幣和以太坊的長期隱含波動率自 2025 年末達到峯值以來持續走低。</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>總體分析表明，儘管短期波動性加劇，但長期波動率和交易活動缺乏持續上升，反映出市場環境的參與度受限和謹慎的定位。完整的 Bybit x Block Scholes 報告可供下載。</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>關於 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計算的加密貨幣交易所，服務於超過 8000 萬用户的全球社區。成立於 2018 年，Bybit 通過創建一個更簡單、開放和平等的生態系統，重新定義了去中心化世界的開放性。Bybit 專注於 Web3，與領先的區塊鏈協議戰略合作，提供強大的基礎設施並推動鏈上創新。以其安全的保管、多樣化的市場、直觀的用户體驗和先進的區塊鏈工具而聞名，Bybit 架起了傳統金融與去中心化金融之間的橋樑，賦能建設者、創作者和愛好者，釋放 Web3 的全部潛力。在 Bybit.com 上發現去中心化金融的未來。</p>
</div><p>For more details about Bybit, please visit Bybit Press</p>
<div class="lb-trans"><p>有關 Bybit 的更多詳細信息，請訪問 Bybit Press</p>
</div><p>For media inquiries, please contact: [email protected]</p>
<div class="lb-trans"><p>如需媒體諮詢，請聯繫： [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，請關注：Bybit 的社區和社交媒體</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>來源 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 發佈最新的加密衍生品分析報告，揭示市場壓力。  
- 報告指出，加密市場因美聯儲政策預期調整而大幅下挫，複合市值減少 4.7%。  
- 比特幣和以太坊短期隱含波動率上升，長期波動率變動有限，交易參與度低迷。

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Bybit 和 Block Scholes 的報告指出，隨着市場重新調整對美聯儲前景的預期，短期內加密貨幣的波動性出現了激增