币圈“血流成河”，周一的大跌是“今年最大规模的爆仓”

Core Viewpoint - The cryptocurrency market experienced a significant sell-off, leading to the largest liquidation of leveraged long positions this year, with over 370,000 traders liquidated and a total amount of $1.8 billion [1] Group 1: Market Impact - The total market capitalization of cryptocurrencies dropped by over $150 billion, reaching a two-week low of $3.95 trillion [1] - Bitcoin's price fell below $112,000 on Coinbase, while Ethereum dropped below $4,150, marking the most significant market correction since mid-August [1] - As of the report, Bitcoin's price had rebounded to $113,155 [1] Group 2: Causes of Liquidation - Analysts attribute the market crash to excessive leverage among traders, with Raoul Pal noting that traders often over-leverage before anticipated breakthroughs, leading to forced liquidations [4] - CoinGlass data confirms this as the largest liquidation event of long positions this year, with similar events occurring in late February, early April, and early August [4] - The severity of the liquidation is closely linked to the imbalance of leverage in altcoins, particularly Ethereum, which saw over $500 million in long liquidations, more than double that of Bitcoin [4] Group 3: Future Market Outlook - Analysts are divided on the future direction of the market, with many viewing the recent sell-off as a technical adjustment rather than the end of a bull market [5] - Nassar Achkar from CoinW suggests that the liquidation may be a short-term adjustment, as future monetary policy remains favorable for risk assets like Bitcoin [5] - Historical data indicates that September is typically a weak month for the cryptocurrency market, with Bitcoin having declined in 8 out of the last 13 Septembers, yet it has still risen approximately 4% this month [6]