近日，加密貨幣市場經歷一場劇烈震盪，比特幣（Bitcoin）價格在短時間內呈現極端波動，給投資者帶來不小驚嚇。據市場數據顯示，比特幣一度跌破100,000美元，隨後迅速反彈至最高點104,070.6美元，隨後又再次回落。截至報導發稿時，比特幣報價約為102,363.4美元，單日跌幅超過1%。

這一波波動並非比特幣孤例，多數主流虛擬貨幣均出現類似走勢。例如，以太坊（Ethereum）下跌接近1%，狗狗幣（Dogecoin）下跌約2%，而較小眾的HYPE幣跌幅更是達到近5%。市場投資者在這一波大起大落的行情中，情緒緊張、波動頻繁，幣圈出現“驚魂一日”的局面。

更為引人關注的是合成穩定幣USDX的異常波動。作為理論上應與美元1:1掛鉤的穩定幣，USDX卻在同日價格從1美元暴跌至0.113美元，跌幅高達八成以上，暴露出部分合成穩定幣在極端市場波動下的脆弱性。這種情況引發市場對合成穩定幣的信任危機，也令投資者重新評估虛擬貨幣及其衍生產品的風險管理能力。

此次劇烈波動背後的原因可能包括市場情緒短期波動、槓桿交易清算潮、以及部分大型資金調整操作等因素。分析人士指出，虛擬貨幣市場本身波動性極大，短期內價格可能出現急速拉升與下跌，投資者需保持警惕，並關注風險控制與資金安全。此次事件再次提醒市場，無論是主流幣還是小眾幣，其價格都可能受到市場心理、交易行為與技術性因素的共同影響，極端行情並非罕見。

The cryptocurrency market recently experienced a dramatic and volatile day, with Bitcoin at the center of extreme price swings that rattled investors. Market data shows that Bitcoin briefly dropped below $100,000, then surged to a high of $104,070.6, before retreating once again. At the time of reporting, Bitcoin was trading at approximately $102,363.4, marking a daily decline of over 1%.

This volatility was not limited to Bitcoin alone. Most major cryptocurrencies mirrored similar patterns. Ethereum fell nearly 1%, Dogecoin dropped around 2%, and the smaller HYPE coin experienced a decline of almost 5%. The sharp swings and rapid reversals contributed to what many in the crypto community described as a “terrifying day” in the market.

Even more striking was the performance of the synthetic stablecoin USDX, which theoretically should maintain a 1:1 peg to the US dollar. On the same day, USDX plummeted from $1 to $0.113, a collapse of more than 88%, highlighting the vulnerability of some synthetic stablecoins during periods of extreme market stress. This incident has raised concerns about investor confidence in such assets and prompted renewed scrutiny of risk management practices within the crypto ecosystem.

Analysts suggest that the extreme fluctuations may have been driven by a combination of short-term market sentiment swings, liquidation cascades from leveraged trades, and large-scale fund adjustments. Experts emphasize that the cryptocurrency market is inherently volatile, with prices capable of rapid spikes and sharp declines in a short period. This event serves as a reminder that both major and minor cryptocurrencies are subject to psychological, behavioral, and technical factors, and that extreme price movements, while alarming, are not uncommon.