24小时爆仓10亿！美国用加密货币补国债窟窿，中国出手护百姓财产

Group 1 - The cryptocurrency market experienced a significant downturn by the end of 2025, with Bitcoin crashing below critical price levels, leading to a collective decline across various cryptocurrencies [1][3] - Bitcoin's price fell sharply to below $87,000, marking a new low since April, with an intraday drop of up to 8% [3] - Ethereum also suffered, dropping below $2,800 with an intraday decline exceeding 6%, while other major cryptocurrencies like XRP and BNB faced similar downturns [5] Group 2 - Over 270,000 individuals faced liquidation in a single day, with total losses approaching $1 billion, highlighting the extreme volatility and panic in the market [5][7] - The sell-off was a continuation of a trend that began after Bitcoin reached an all-time high of $126,250 in early October, resulting in a cumulative decline of over 30% within a month and a half [7] - The turmoil in the cryptocurrency market has also impacted the stock market, with major U.S. indices declining and cryptocurrency-related stocks being particularly hard hit [9] Group 3 - The primary catalyst for the recent cryptocurrency crash is the cooling expectations for a Federal Reserve interest rate cut, with the probability of a December rate cut falling below 50% [12] - The tightening of dollar liquidity expectations has put pressure on non-yielding assets like Bitcoin, which Morgan Stanley noted would be directly affected if the Fed maintains its current stance [12] - The inherent "gray" nature of cryptocurrencies, which have been associated with illicit activities since their inception, has contributed to their volatility and market perception [10][14] Group 4 - The contrasting approaches of the U.S. and China towards cryptocurrencies reflect differing national interests, with the U.S. shifting from skepticism to a more accommodating stance to address its national debt issues [21][23] - The U.S. has integrated cryptocurrency into its financial system by requiring stablecoin issuers to back their assets with U.S. Treasury bonds, effectively linking speculative investments to government debt [23][25] - In contrast, China has taken a firm stance against cryptocurrencies, declaring them illegal and implementing strict measures to curb their use, emphasizing the protection of financial stability and investor safety [27][29]