币圈再动荡！又一美元稳定币脱锚，比特币跌破10万美元，有何启示？

Core Insights - The cryptocurrency market is experiencing significant turmoil, marked by the de-pegging of stablecoins and a notable decline in Bitcoin prices, with Bitcoin dropping below $100,000 for the first time in months [1][3][4] Group 1: Stablecoin Issues - The synthetic stablecoin USDX, issued by Stable Labs, has severely deviated from its $1 peg, plummeting to $0.113, triggering a series of liquidations across lending platforms [3][4] - Stable Labs, which claims compliance with EU MiCA regulations, has not publicly addressed the USDX crisis, increasing market uncertainty [3] - Major DeFi protocols like Lista DAO and PancakeSwap are actively monitoring the situation, with Lista DAO initiating emergency governance votes to authorize asset liquidations [4][6] Group 2: Bitcoin Market Dynamics - Bitcoin recorded a nearly 5% decline in October, ending a streak of October gains since 2018, with a significant drop from a historical high of $126,000 to $104,000 [5][6] - The market sentiment remains fragile, with a notable outflow of $797 million from Bitcoin and Ethereum ETFs, contributing to Bitcoin's drop below $100,000 [4][6] - The implied volatility for Bitcoin and Ethereum has increased, reaching 47% and 70% respectively, indicating heightened market uncertainty [4] Group 3: Macro Factors and Market Sentiment - Global capital markets are experiencing a pullback, with rising caution among investors due to signals from the Federal Reserve regarding interest rates and ongoing geopolitical uncertainties [6][7] - The recent events in the cryptocurrency market are viewed as a secondary crisis, with the USDX de-pegging being a significant factor in the overall market volatility [6][8] - Market participants are advised to focus on risk management and the interconnectedness of various market factors, as they can trigger chain reactions [8]