比特币一度跌13%！币圈“历史级别”爆仓！1小时70多亿美元遭平仓

Core Viewpoint - The cryptocurrency market experienced a significant downturn due to threats of tariffs from former President Trump, marking the largest sell-off since at least early April 2023 [1] Market Impact - Bitcoin's price plummeted from a high of $122,000, with a maximum intraday drop of 13%, reaching a low of $103,900, resulting in one of the most severe single-day liquidation events in crypto history [2][4] - Ethereum's price fell from $4,363 to $3,468, a decline of over 20%, while many altcoins saw declines exceeding 30% [6] - The total liquidation amount reached $19.141 billion within 24 hours, with 1.6213 million investor accounts being forcibly liquidated, a figure three times higher than the LUNA crash in 2022 [4][10] Structural Issues - The market's structural weaknesses were exacerbated by high leverage, with average retail investor leverage at 10x, meaning a mere 10% drop in Bitcoin's price could trigger liquidations [16] - The total leverage ratio in the crypto market reached 38%, the highest since May 2022, indicating a precarious market condition [18] - The correlation between cryptocurrencies and the Nasdaq index has risen to 0.78, suggesting increased volatility due to institutional investor involvement, which has grown from 15% to 32% in Bitcoin holdings since 2022 [20] External Factors - Trump's tariff threats directly impacted risk asset confidence, with the WTO lowering global goods trade growth forecasts from 1.8% to 0.5% for 2026 [10] - The ongoing U.S. government shutdown has historically led to increased volatility in cryptocurrencies, often 3-5 times that of the S&P 500 index [12] - The Federal Reserve's ambiguous stance on monetary policy has dampened liquidity expectations, further straining the market [14]