比特币盘中跌近8%、跌破7.3万，抹平特朗普当选以来涨幅

Core Viewpoint - Bitcoin has dropped to its lowest point since Trump's return to the White House, erasing gains accumulated since his election, with a decline of over 40% since its peak in October 2025 [1] Group 1: Market Performance - Bitcoin fell below $73,000, dropping over $6,000 from its earlier high of $79,100, marking an 8% decline and reaching its lowest level since early November 2024 [1] - Ethereum, the second-largest cryptocurrency by market capitalization, experienced a sharper decline, falling below $2,110, down over 10% from its earlier high of $2,350 [3] - Since the beginning of 2026, Bitcoin has accumulated a decline of over 15%, reflecting ongoing investor concerns about economic headwinds [5] Group 2: Market Sentiment and Trading Behavior - The cryptocurrency market sentiment has reached a low point, with traders operating in a bear market mode, as noted by Augustine Fan from SignalPlus [5] - Many traders attempted to buy the dip, betting on a rebound above $80,000, but continued declines led to significant liquidations, increasing selling pressure [5] - The cryptocurrency market has faced persistent downward pressure since the sell-off in October 2025, which wiped out $19 billion in leveraged token bets [5] Group 3: Institutional vs. Retail Participation - While some institutional holders remain steadfast, retail participation has decreased as major long-term Bitcoin holders sold off billions in assets [6] - The MarketVector Digital Assets 100 Small-Cap index, tracking the smallest 50 digital assets, has plummeted nearly 70% over the past year, underperforming Bitcoin and Ethereum [6] - Significant outflows from spot ETFs, largely held by retail investors, were observed in November, indicating a shift in market dynamics [6] Group 4: Market Outlook - The cryptocurrency market has been in a comprehensive winter since January 2025, akin to past bear markets in 2018 and 2022, as stated by Matt Hougan from Bitwise [6] - Hougan suggests that this bear market may be nearing its end, with historical down cycles typically lasting around 13 months, indicating a potential bottoming out in the coming weeks [6]