此次下跌引发交易员热议：这是短期调整还是深度回撤的开始？目前来看，尽管长期需求驱动因素未 变，但短期动能已出现中断。 本周白银抛售潮源于价格抛物线式上涨至纪录高位后，交易员纷纷锁定收益。当杠杆头寸平仓时，此类 行为通常会加速——算法交易与止损订单进一步放大卖盘，加剧价格压力。回调速度表明投机性持仓可 能正在减少，这往往是市场进入盘整阶段的前兆。 短期市场情绪还对强劲的美国经济数据及美联储官员言论敏感，后者淡化了激进降息预期。实际利率上 升会降低白银等无收益资产的吸引力，政策制定者的任何鹰派表态都可能延长短期压力。对活跃交易员 而言，即便长期基本面仍具支撑，短期市场也可能维持负面动能。 【最新伦敦银行情解析】 昨日现货白银早盘低开在57.942的位置后行情回补缺口给出58.767的位置后行情强势震荡回落，日线最 低给到了56.408的位置后整理，日线最终收线在了57.133的位置后，日线以一根上下影线等长的中阴线 收线，今日银价如果回落，目标看56.8和57.2。 北京时间周五(12月5日)亚盘时段，伦敦银交投区间缩窄，截至发稿，白银价格暂报57.04美元/盎司，下 跌0.10%，目前来看，伦敦银盘内短线偏向区 ...

Core Insights - Bitcoin reached a new high of over $126,000 before experiencing a significant drop due to President Trump's threat of new tariffs on China, resulting in over $19 billion in liquidated crypto futures positions [1] - Following the crash, Bitcoin's price briefly fell below $110,000 but has since recovered to around $113,494, while gold reached a record price of $4,099 per ounce [2] - Experts believe that the debasement trade, which includes Bitcoin as a hedge against currency debasement, still has potential for growth over the next decade [3] Market Reactions - The aggressive interest rate hikes by the U.S. central bank have been reversed, and unless rates remain high, the debasement trade is expected to continue [4] - If real interest rates rise significantly and persist, or if there is a notable outflow of institutional funds, Bitcoin's role as a debasement hedge may be reassessed [5] Performance of Other Cryptocurrencies - While Bitcoin is currently 10% below its all-time high, other cryptocurrencies like Solana and XRP have experienced even greater declines, remaining over 30% lower than their peaks earlier this year [5]