Group 1 - The digital asset market is experiencing significant declines, with Bitcoin recently dropping below key support levels, reflecting a tightening liquidity environment and pushing cryptocurrencies into deeper technical adjustments [1][3] - The recent sell-off in the stock market, particularly in the software and technology sectors, has led to substantial declines in major companies like Adobe and Salesforce, with drops ranging from 7% to 12%, and a 14% decrease in the Technology Software ETF (IGV) over a week [2][5] - The outflow of approximately $3 billion from Bitcoin ETFs over the past two weeks indicates a bearish market trend, further confirming the characteristics of a bear market [2][5] Group 2 - The current asset volatility is attributed to a combination of tightening macro liquidity and a revaluation of technology stocks, with Bitcoin undergoing a severe winter similar to past cycles in 2018 and 2022 [3][6] - ZFX suggests that investors should closely monitor the stabilization signals of the Nasdaq index and the defense performance of the 73,000 key support level to identify opportunities for asset reallocation amid volatility [6]
ZFX山海证券:比特币走低 加密寒冬
Xin Lang Cai Jing·2026-02-04 14:14