比特币领跌 虚拟货币再遇重挫

比特币跌幅近10%、以太坊跌幅9%、SOL跌幅11%、狗狗币跌幅9.4%……在刚刚过去的一周，不仅仅是比特币经历连环跌，虚拟货币市场整体均遭重挫。但这也不影响交易所的拉客生意，北京商报记者注意到，目前仍有交易所向用户发出跟单邀请，看似“赚钱”的交易，殊不知背后价格剧烈波动下，仍是风险重重。

Bitcoin fell by almost 10%, Ether by 9%, SOL by 11%, and dogcoat by 9.4%... In the past week, not only did Bitcoin experience a series of collapses, but the virtual currency market as a whole suffered a severe setback. But this does not affect the exchange’s soliciting business.

自6月20日起至6月25日，比特币从6.6万美元高位价格，相继跌破6.5万美元、6.4万美元，更是在6月24日再度闪崩，从6.4万美元一路下挫跌破6万美元关口，报59772美元。不过，截至6月26日18时10分，比特币价格有所回调，价格报61328美元，24小时跌幅0.27%，一周内跌幅5.39%，近一月跌幅高达9.55%。

Between 20 June and 25 June, Bitcoin fell from a high price of $66,000 to $65,000 and $64,000, and again on 24 June, breaking down from $64,000 to $60,000 and reporting $59,772. However, at 1810 hours on 26 June, Bitcoin prices had rebounded, with a price of $61,328 and a decline of 0.27 per cent in 24 hours, a decline of 5.39 per cent in a week and a fall of 9.55 per cent in almost one month.

“每次跌完感觉能反弹的时候还是继续下跌，看着账户一直缩水是真难受。”一币圈投资者向北京商报记者直言，“‘多军’太难了，每次被爆了都认为会有反弹，但是每次都是继续被爆，都快赶上‘爆竹厂’了。”

“It's hard to watch the accounts shrink every time they fall, and it's hard to see the accounts fall.” “It's too hard for a billion-dollar investor to tell a reporter in Beijing, every time they blow up, they think they're going to bounce, but every time they're going to blow, they're catching up with a firework.”

比特币暴跌之下，虚拟货币市场其他币种同样未幸免于难。其中，以太坊一月内跌幅达10.27%；SOL一周跌幅2.36%，一月内跌幅超18.59%；狗狗币一月内跌幅更是高达22.66%。

The virtual currency market has not been spared by the fall of Bitcoin. Among them, the decline was 10.27 per cent in one month in Ethio; the decline in SOL was 2.36 per cent in a week, more than 18.59 per cent in one month; and the fall in dog money was 22.66 per cent in a month.

近期比特币和虚拟货币市场的剧烈下跌，在业内看来，是多方面因素共同作用的结果。正如中国通信工业协会区块链专委会共同主席、香港区块链协会荣誉主席于佳宁在接受北京商报记者采访时指出，一方面，全球宏观经济环境的不确定性和金融市场的波动直接影响了虚拟货币市场。特别是英伟达的股价从历史最高点回落，抑制了纳斯达克科技股的进一步新高，同时也降低了一些美股市场的火热情绪，进一步影响了投资者对高风险资产的信心。

As the Co-Chair of the China Communications Industry Association’s District Chain Commission and the Honorary President of the Hong Kong Block Chain Association stated in an interview with a journalist from the Beijing Business Journal, on the one hand, uncertainty in the global macroeconomic environment and volatility in financial markets have had a direct impact on virtual money markets. In particular, British Weida’s stock prices have fallen from historical peaks, deterring a further upturn in NASDAQ’s science and technology unit, while reducing the enthusiasm in some US markets and further undermining investors’ confidence in high-risk assets.

另一方面，市场内部的技术性因素同样不可忽视。比特币在短期内连续跌破多个关键支撑位，引发大量止损卖单，加剧了价格下跌。同时，一些大型持币者的大量抛售行为对市场造成了冲击，触发了连锁反应，引发更多中小投资者的跟风抛售。

Bitcoin’s successive collapse of several key support positions in the short term has caused a large stop to sales, which has exacerbated price declines. At the same time, a large number of sales by large currency holders have hit the market, triggering a chain reaction, triggering more small and medium-sized investors to sell.

尽管价格暴跌不断，但相较于去年末，比特币价格仍保持着较高水平。因此，仍有一些炒作者涌入其中，甚至在一些平台的营销拉动下推动新手入局。

Bitcoin prices remained at a higher level than they were at the end of last year, despite a sharp fall in prices. As a result, a number of pro-authors have poured in, even pushing for new entry under the marketing drive of some platforms.

北京商报记者注意到，近日，币安交易所就频频向用户发出跟单邀请，宣称参与模拟跟单交易大赛，或通过“探索”模块体验滑动功能并进行跟单交易，即可瓜分3万USDT。

According to a reporter from the Beijing Business Journal, in recent days, the Exchange has frequently issued a documentary invitation to users to participate in a simulating documentary trade competition, or to experience slides and billings through a “exploration” module, which would result in a split of 30,000 USDTs.

看似轻松一滑就可参与的跟单交易，背后隐患同样不小。

It seems easy to be involved in a billing transaction, with the same risks behind it.

“交易所向用户发出跟单邀请存在相对较高的风险。”于佳宁直言，跟单交易本质上是让投资者复制其他交易者的操作，这可能导致投资者失去独立判断能力，盲目跟随市场波动。许多跟单平台上的“明星”交易者可能在短期内表现优异，但他们的策略并不一定适合所有投资者，特别是在市场波动剧烈的情况下，风险尤为突出。

“There is a relatively high risk that the exchange will issue a note invitation to users.” In Janin, it is essentially to allow investors to replicate the operations of other traders, which may result in investors losing their ability to judge independently and blindly follow market fluctuations. Many “star” traders on the documentary platform may perform excellently in the short term, but their tactics do not necessarily suit all investors, especially when markets are volatile.

另外，交易所通过这样的活动吸引用户，可能会引发过度交易的行为。频繁交易不仅会增加交易成本，还会让投资者在高波动市场中承担更大的风险。于佳宁表示，在市场不稳定的情况下，短期内的频繁操作可能导致严重的财务损失，投资者应谨慎对待。

In addition, exchanges attract users through such activities, which may lead to excessive transactions. Frequent transactions not only increase transaction costs, but also place investors at greater risk in highly volatile markets.

值得注意的是，交易所的此类活动还可能隐藏潜在的利益冲突。例如，一些小平台可能通过增加交易量来获取更多的交易手续费，甚至可能存在操控市场的嫌疑。投资者在参与这些活动时，应当保持警惕，仔细阅读相关规则和条款，避免成为平台获利的工具。

It is worth noting that such activities of the exchange may also hide potential conflicts of interest. For example, some small platforms may acquire additional transaction fees by increasing the volume of transactions, or may even be suspicious of managing markets.

“跟单操作有部分是骗局，你贪差价，别人贪你的本金。即便不是骗局，这种跟单操作本身也毫无意义。”知名经济学者盘和林同样说道。

"Something about a documentary operation is a scam, you're a briber, you're a briber. Even if it isn't a trick, it's a documentary operation that doesn't make sense in itself." The leading economists and Lin say the same thing.

针对跟单交易相关风险，北京商报记者向币安交易所相关负责人求证采访，但截至发稿未获得回应。

In response to the risks associated with documentary transactions, a Beijing news reporter interviewed the relevant head of the currency exchange, but did not receive a response as of the date of the release.

事实上，除了跟单交易的风险，业内认为，投资者还需要警惕虚拟货币市场的其他问题。

In fact, in addition to the risks of documentary transactions, it was felt that investors also needed to be vigilant about other issues of the virtual currency market.

例如市场操纵的风险，虚拟货币市场相对传统金融市场监管较少，容易受到大户（“鲸鱼”）操控，价格波动剧烈。此外还有安全风险，许多交易所的安全措施不到位，黑客攻击、资金丢失等事件时有发生，投资者的资金安全难以保障。

For example, there is a risk of market manipulation, virtual money markets are less regulated than traditional financial markets, vulnerable to large-scale control (“whals”) and highly volatile prices. There are also security risks, many exchanges have inadequate security measures, hacker attacks, loss of funds, etc., and investors’ financial security is difficult to secure.

于佳宁告诉北京商报记者，对于加密行业而言，市场走向主流化、合规化、机构化是不可逆转的趋势。在加密资产发展的早期阶段，全球投资者以散户为主。但随着市场体系的逐步成熟，机构投资者的比重近年来与日俱增，现已成为该市场的重要参与者。合规化是加密市场走向主流化的重要一步。各国监管机构逐步出台相关政策，规范加密资产的交易和管理。这些政策旨在防止市场操纵、洗钱和其他非法活动，同时保护投资者的权益。

As the market system matures, however, the share of institutional investors has grown in recent years and has become an important player in the market. Compliance is an important step toward mainstreaming the encryption market. National regulators have gradually introduced policies to regulate the transactions and management of encrypted assets.

北京商报记者 刘四红

Reporter, Beijing Business Journal, Liu Xiaohong