Bitcoin and Ethereum see historic February losses as liquidity concerns grow

Bitcoin experienced its biggest February decline in more than a decade after closing last month with an over 17% drop in value.旗艦資產以2月份超過101,000美元的價格開始，下降到78,000美元，然後以超過84,000美元的價格結束。

According to Coinglass data, this is the second-largest drop that BTC has experienced in February, which historically has been a positive month for the flagship asset.該月的最大下降是在2014年下跌31％的時候。

However, Bitcoin has only experienced a drop in value thrice in February since 2013, when Coinglass started keeping the data with the last one before this coming in 2020. On average, the flagship asset experienced a 13% rise in February.

Meanwhile, Bitcoin’s decline in February was even better than Ethereum’s.自2024年以來一直在苦苦掙扎的ETH上個月，價值下降了32％。儘管它在本月初的交易額約爲3,300美元，但價值損失了1,000多美元，2月28日下降到低至2,100美元。

The massive decline is also a historical anomaly for Ethereum, which last experienced a February loss in 2018 when it dropped 24%.總體而言，該月平均收益爲11.68％。

Bitcoin’s performance in February is the worst monthly decline the asset has experienced since June 2022.

將加密貨幣市場推倒的力量

Meanwhile, several factors contributed to the massive decline that Bitcoin and other digital assets experienced last month. The biggest factor was President Donald Trump‘s announcement that the 25% tariffs on Canada and Mexico would finally go into effect by March 4, along with the extra 10% tariffs on Chinese imports.

隨着關稅的最初宣佈引起了加密貨幣的拋售，其續簽的消息加上其他地緣政治緊張局勢和不確定性的跡象，足以將加密貨幣推向3個月以上的最低水平。這凸顯了政治事件如何顯着影響數字資產的績效。

其他因素（例如，交易所從中恢復的15億美元黑客攻擊，以及其他宏觀經濟問題，也造成了2月加密貨幣持有人的巨大損失。

Despite the decline, Bitcoin and several other crypto continue to trade at a better level than before Trump was elected president, showing that they retained some of their gains even. For instance, Bitcoin, which is trading above $84,000, was worth $69,000 as of November 6, 2024.

反彈的市場，但會持續嗎？

Following that massive decline to close out February, the crypto market is now experiencing a price rebound led by Bitcoin, which has gained 5% in the last 24 hours. Solana is also up 4.67%, and XRP has gained 5.57%, while ETH saw just a 2.27% gain.

儘管如此，還爲時過早確定傾角是否終於結束了。 Data from Santiment shows crowd sentiments, which are mostly bearish across several social media platforms.這是傳入反彈的一個好兆頭，因爲BTC歷史上對人羣是逆勢。

但是，流動性流失導致了今年對BTC的需求減弱，這是加密市場努力獲得勢頭的主要原因之一。 CryptoQuant data shows that Binance stablecoin reserves have been declining, particularly for USDT and USDC, and if this continues, the market might see more liquidity crunch.

Meanwhile, exchange-traded funds (ETFs) have not been the major source of demand for BTC this year compared to 2024. As of this time in 2024, Bitcoin ETFs have accumulated over 128,000 BTC, valued at $6.3 billion, while the 2025 numbers show around 12,000 BTC, valued at $1.7 billion.這在BTC和美元條件上都是相當大的下降。

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