售價109,754美元後，比特幣（BTC）價格下跌低於106,000美元

在達到109,754美元的紀錄後，BTC迅速降至106,000美元的地區約3％。

Bitcoin (BTC) dropped from a record high of $109,754 to the $106,000 area as traders booked some gains from the rapid rally, while a U.S. treasury bond auction also had a knock-on effect on risk assets.

隨著交易者預訂了快速拉力賽的一些收益，比特幣（BTC）從創紀錄的109,754美元下降到了106,000美元的區域，而美國國債債券拍賣也對風險資產產生了競爭影響。

The world’s leading cryptocurrency was trading at about $107,000 at press time, having slid about 3% over the past 24 hours, according to CoinDesk's Bitcoin Price Index. It had risen to as high as $109,754 earlier in the day, before slipping back from the key $110,000 level.

根據Coindesk的比特幣價格指數，全球領先的加密貨幣在發稿時的交易約為107,000美元，在過去的24小時內下滑了約3％。當天早些時候，它上升至109,754美元，然後從關鍵$ 110,000的水平退回。

Other cryptocurrencies also took a hit, with ether falling to the $88,000 area.

其他加密貨幣也受到了打擊，以太貨幣降至88,000美元。

Bitcoin's price action may have been sparked by traders taking profits on the quick rise — bitcoin was higher by nearly 50% since bottoming about five weeks ago.

貿易商在快速上升時獲得利潤可能已經引發了比特幣的價格行動 - 自從大約五個星期前，比特幣增長了近50％。

But also likely contributing was the ripple effect of a U.S. treasury bond auction going awry and hitting risk assets. A sale of 20-Year bonds by the U.S. Treasury department saw weak demand, sending the yield on the 30-year Treasury spiking to 5.07%, its highest level in more than two years.

但也很可能是美國國庫債券拍賣會出錯並擊中風險資產的連鎖反應。美國財政部出售20年的債券的需求疲軟，將30年的財政部提升的收益率提高到5.07％，這是兩年多以上的最高水平。

The news saw the Nasdaq tumble 1.5% in just an hour. The S&P 500 declined 1.3%.

這一消息使納斯達克在短短一個小時內就達到1.5％。標準普爾500指數下跌1.3％。

"This is a ticking time bomb, swept under the rug, "longtime fixed-income veteran turned bitcoin analyst Josh Mandell said, ahead of this afternoon's poor bond sale.

“這是一枚滴答tick彈的定時炸彈，在地毯下被掃除。”在今天下午的債券銷售不佳之前，固定收入的老將轉向比特幣分析師喬什·曼德爾（Josh Mandell）說。

"We used to talk about the disaster that would ensue if ever there was a ‘MISSED AUCTION’ in 30-yr bonds. A missed auction means that there were not enough bids to cover the offering… Were it not for the Fed, we would be experiencing a failure to roll over bonds right now which leads to default."

“我們曾經談論過，如果有30年的債券中有'錯過拍賣'將會發生的災難。錯過的拍賣意味著沒有足夠的出價來覆蓋產品……如果不是為了美聯儲，我們將遇到目前未能兌現債券的債券，這會導致違約。”

Kirill Kretov, trading automation expert at CoinPanel, said that liquidity from exchanges has been significantly removed since late 2024, "making the market thinner and more reactive," leaving bitcoin's price vulnerable to wild swings.

Coinpanel的貿易自動化專家Kirill Kretov表示，自2024年底以來，交流的流動性已被大大消除，“使市場更瘦，更具反應性”，使比特幣的價格易受狂野搖擺。

"Structurally, there’s room for explosive upside," he said, but "a sharp correction can happen at any moment."

他說：“從結構上講，有爆炸性的上升空間。

The $110,000 level has emerged as a key battleground in the current market structure, well-followed crypto trader Skew noted in an X post, describing it as the critical zone between a local high and a potential breakout point.

$ 110,000的水平已成為當前市場結構中的關鍵戰場，在X帖子中指出，良好的加密貨幣交易員偏斜，將其描述為當地高點和潛在的突破點之間的關鍵區域。

According to Skew, there's a noticeable concentration of supply around this level, with Binance perpetuals showing a skewed ask-side order book and a buildup of short positions.

根據Skew的說法，在此級別上有明顯集中的供應集中，而二心的永久性則顯示出偏斜的問答訂單訂單書，並構成了短職位。

"All point to a huge amount of liquidity here, usually pivotal for the market," Skew said.

Skew說：“所有這些都指向這里大量的流動性，通常對市場關鍵。”