近日，加密貨幣市場發生劇烈波動，引發全球投資者高度關注。受美國關稅政策反覆不定以及聯邦政府持續“停擺”等不穩定因素影響，本就具有高度投機屬性的加密貨幣市場在11日凌晨迎來大幅下跌。當日，比特幣價格一度暴跌近15%，以太坊亦下跌超過20%，其他市值較小的加密貨幣同樣出現大幅回調，市場恐慌情緒蔓延。

此次急速跳水導致大量投資者爆倉。根據Coinglass數據顯示，過去24小時內，加密貨幣全網合約爆倉金額超190億美元，爆倉人數達162萬人，其中約九成為多單爆倉。這一波劇烈拋售凸顯出加密貨幣市場的高波動性與投機風險，也引發投資者對風險控制的廣泛討論。

回顧2025年的市場表現，比特幣價格經歷多次大幅震盪。年初，比特幣曾在9.5萬美元關口附近波動上行。隨後在4月，一度下跌至 8萬美元以下，但之後連續幾個月價格上行，陸續突破10萬、11萬及12萬美元等多個整數關口，不斷刷新歷史最高價格。此次暴跌發生前，比特幣已經處於高位運行，投資者風險承受能力有限，加上市場消息面不確定性加劇，因此觸發大規模拋售潮。

整體而言，本次加密貨幣市場的劇烈波動不僅影響比特幣和以太坊等主流幣種，也對小市值幣造成衝擊，導致全球數百萬投資者資金損失慘重。這一事件再次提醒市場參與者，加密貨幣投資雖具高收益潛力，但同時風險極高，需要謹慎操作，控制槓桿並做好風險管理。

Recently, the cryptocurrency market experienced a sharp and dramatic downturn, drawing global investor attention. Against the backdrop of unpredictable U.S. tariff policies and the ongoing federal government “shutdown,” the highly speculative cryptocurrency market suffered a major sell-off in the early hours of October 11. Bitcoin plummeted nearly 15% at one point, Ethereum fell over 20%, and smaller-cap cryptocurrencies also experienced steep declines, spreading panic across the market.

The rapid plunge triggered massive liquidations. According to Coinglass data, in the past 24 hours, over $19 billion worth of crypto contracts were liquidated, affecting 1.62 million traders, with approximately 90% of the liquidations coming from long positions. This sudden sell-off highlighted the extreme volatility and high-risk nature of the crypto market, sparking widespread discussions among investors about risk management.

Looking back at 2025, Bitcoin has experienced multiple periods of volatility. At the beginning of the year, it hovered around the $95,000 mark. In April, it briefly dropped below $80,000, but then rebounded over the following months, successively breaking through $100,000, $110,000, and $120,000, continuously setting new all-time highs. Before this recent crash, Bitcoin had been trading near peak levels, leaving investors with limited risk tolerance. Combined with increasing market uncertainty, this triggered a large-scale sell-off.

Overall, this sudden market downturn not only affected major cryptocurrencies like Bitcoin and Ethereum but also hit smaller-cap coins hard, resulting in significant losses for millions of investors worldwide. The event serves as a stark reminder that, while cryptocurrency investment offers high potential returns, it carries extremely high risks, necessitating careful operation, prudent leverage use, and robust risk management strategies.