比特币录得3月来最大单日跌幅，10亿美元杠杆头寸被迫清仓，加密货币凛冬将至？

Core Viewpoint - The cryptocurrency market is experiencing significant downturns, with Bitcoin recording its largest single-day drop since March, leading to concerns of a new "crypto winter" as nearly $1 billion in leveraged positions were liquidated [3][4][5]. Market Performance - On December 1, Bitcoin fell over 6%, marking a decline of more than 30% from its peak of over $126,000 in early October [4]. - Other major cryptocurrencies, such as Ethereum and Solana, also saw declines of 7.6% and approximately 8%, respectively [4]. - The MarketVector index, which tracks the top 100 cryptocurrencies, has dropped nearly 70% this year [5]. Liquidation and Leverage - The recent sell-off is part of a broader trend that began in October, where approximately $19 billion in leveraged cryptocurrency positions were liquidated due to market instability [5]. - As of December 1, nearly $1 billion in leveraged positions were forcibly liquidated during the price drop [5][6]. - The estimated outstanding leverage in cryptocurrency futures is around $787 billion, with ETF positions at approximately $135 billion [6]. Industry Sentiment - Industry insiders are warning of a potential "crypto winter," with companies like Strategy raising $1.44 billion through stock sales to ensure they can meet future dividend and debt obligations [7]. - Strategy's CEO indicated that if the company's market value falls below the net asset value of its Bitcoin holdings, they may sell some Bitcoin to protect shareholder interests [8]. - The overall sentiment in the market is pessimistic, with expectations that Bitcoin could drop to $60,000 [8]. Macro Economic Factors - Concerns about macroeconomic conditions, including uncertainty around potential interest rate cuts by the Federal Reserve, are adding pressure to cryptocurrency investors [9]. - The liquidity-driven adjustments in various asset classes, including Bitcoin, are expected to continue, particularly in the fourth quarter [9].