In November 2025, Bitcoin plummeted to $80,000, signaling a drastic reset of market liquidity driven by macroeconomic turmoil, institutional repositioning, and speculative deleveraging. For investors, the key question now is whether this price level represents a bottom - a buying opportunity - or a continuation of the bearish trend. To answer this question, we must delve into the interplay between liquidity dynamics, institutional behavior, and technical indicators.
流动性驱动的市场重置：一场完美风暴
比特币价格从 12.6 万美元暴跌至 8 万美元并非孤立事件，而是更广泛的流动性受限的征兆。美联储政策突然从鸽派转向鹰派——将降息概率从 10 月份的 97% 降至 11 月中旬的 22%——引发了全球流动性紧缩。
根据研究日本10年期国债收益率上升以及日元套利交易的退出进一步加剧了资本外流，给风险资产（例如……）带来压力。 比特币雪上加霜的是， 美国政府停摆获取关键经济数据的渠道有限，加剧了不确定性。