<p>V&agrave;o ng&agrave;y 20/01/2026, th&#7883; tr&#432;&#7901;ng ti&#7873;n m&atilde; h&oacute;a &#273;&atilde; tr&#7843;i qua m&#7897;t &#273;&#7907;t gi&#7843;m &#273;&ograve;n b&#7849;y m&#7841;nh. H&#417;n 182,000 nh&agrave; giao d&#7883;ch b&#7883; thanh l&yacute; v&#7883; th&#7871;, v&#7899;i t&#7893;ng gi&aacute; tr&#7883; thanh l&yacute; v&#432;&#7907;t 1.08 t&#7927; USD. H&#7847;u h&#7871;t &#273;&#7873;u l&agrave; c&aacute;c l&#7879;nh Long b&#7883; &#273;&oacute;ng c&#432;&#7905;ng b&#7913;c khi c&aacute;c nh&agrave; giao d&#7883;ch h&#7907;p &#273;&#7891;ng t&#432;&#417;ng lai Bitcoin v&agrave; Ethereum b&#7883; cu&#7889;n v&agrave;o chu&#7895;i g&#7885;i k&yacute; qu&#7929; li&ecirc;n ti&#7871;p.</p>
<p>Hi&#7879;n t&#7841;i, c&aacute;c nh&agrave; giao d&#7883;ch &#273;ang ph&#7843;i &#273;&#7889;i m&#7863;t v&#7899;i m&#7913;c &#273;&ograve;n b&#7849;y cao trong b&#7889;i c&#7843;nh &aacute;p l&#7921;c kinh t&#7871; v&#297; m&ocirc; to&agrave;n c&#7847;u gia t&#259;ng v&agrave; y&#7871;u t&#7889; k&#7929; thu&#7853;t c&#7911;a c&aacute;c t&agrave;i s&#7843;n s&#7889; ti&#7871;p t&#7909;c y&#7871;u &#273;i.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-record-liquidations-hammer-leveraged-traders">L&#432;&#7907;ng thanh l&yacute; k&#7927; l&#7909;c g&acirc;y thi&#7879;t h&#7841;i cho c&aacute;c nh&agrave; giao d&#7883;ch s&#7917; d&#7909;ng &#273;&ograve;n b&#7849;y</h2>

<p>Theo <a href="https://www.coinglass.com/liquidations" target="_blank" rel="noopener">d&#7919; li&#7879;u t&#7915; CoinGlass</a>, trong 24 gi&#7901; k&#7871;t th&uacute;c ng&agrave;y 20/01/2026, &#273;&atilde; c&oacute; 182,729 nh&agrave; giao d&#7883;ch b&#7883; thanh l&yacute; v&#7883; th&#7871; v&agrave; t&#7893;ng s&#7889; ti&#7873;n l&ecirc;n &#273;&#7871;n 1.08 t&#7927; USD. Trong &#273;&oacute;, c&aacute;c l&#7879;nh Long chi&#7871;m h&#7847;u h&#7871;t v&#7899;i t&#7893;ng gi&aacute; tr&#7883; 1.08 t&#7927; USD, c&ograve;n s&#7889; thanh l&yacute; c&aacute;c l&#7879;nh Short ch&#7881; &#7903; m&#7913;c 79.67 tri&#7879;u USD.</p>
<p>Bitcoin ghi nh&#7853;n s&#7889; l&#7879;nh Long b&#7883; thanh l&yacute; tr&#7883; gi&aacute; 427.06 tri&#7879;u USD, trong khi Ethereum x&#7871;p sau v&#7899;i 374.47 tri&#7879;u USD. L&#7879;nh thanh l&yacute; l&#7899;n nh&#7845;t tr&ecirc;n s&agrave;n Bitget l&agrave; v&#7883; th&#7871; BTCUSDT_UMCBL, tr&#7883; gi&aacute; 13.52 tri&#7879;u USD. M&#7897;t s&#7889; s&agrave;n l&#7899;n c&#361;ng ghi nh&#7853;n con s&#7889; &#273;&aacute;ng ch&uacute; &yacute;: Hyperliquid c&oacute; 132.39 tri&#7879;u USD l&#7879;nh Long b&#7883; thanh l&yacute;, Bybit l&agrave; 91.35 tri&#7879;u USD v&agrave; Binance l&agrave; 64.08 tri&#7879;u USD ch&#7881; trong v&ograve;ng 4 ti&#7871;ng &#273;&#7891;ng h&#7891;.</p>
<p>Thanh l&yacute; x&#7843;y ra khi s&agrave;n giao d&#7883;ch t&#7921; &#273;&#7897;ng &#273;&oacute;ng v&#7883; th&#7871; &#273;&ograve;n b&#7849;y c&#7911;a nh&agrave; giao d&#7883;ch do t&agrave;i s&#7843;n k&yacute; qu&#7929; kh&ocirc;ng &#273;&#7911; &#273;&#7875; b&ugrave; l&#7895;. Khi gi&aacute; bi&#7871;n &#273;&#7897;ng ng&#432;&#7907;c l&#7841;i v&#7899;i c&aacute;c v&#7883; th&#7871; d&ugrave;ng &#273;&ograve;n b&#7849;y cao, s&agrave;n s&#7869; t&#7921; &#273;&#7897;ng b&aacute;n t&agrave;i s&#7843;n th&#7871; ch&#7845;p, khi&#7871;n gi&aacute; lao d&#7889;c v&agrave; k&iacute;ch ho&#7841;t th&ecirc;m nhi&#7873;u l&#7879;nh g&#7885;i k&yacute; qu&#7929; n&#7919;a, t&#7841;o th&agrave;nh hi&#7879;u &#7913;ng domino.</p>
<p>Nhi&#7873;u nh&agrave; giao d&#7883;ch n&#7893;i ti&#7871;ng c&#361;ng ch&#7883;u &#7843;nh h&#432;&#7903;ng n&#7863;ng. <a href="https://x.com/lookonchain/status/2013635534921351322" target="_blank" rel="noopener">Machi Big Brother</a>, m&#7897;t nh&agrave; &#273;&#7847;u t&#432; n&#7893;i b&#7853;t, &#273;&atilde; b&#7883; thanh l&yacute; t&#7899;i 5 l&#7847;n ch&#7881; trong m&#7897;t ng&agrave;y. T&#7893;ng s&#7889; l&#7895; c&#7911;a anh n&agrave;y l&ecirc;n &#273;&#7871;n 24.18 tri&#7879;u USD. Ngo&agrave;i ra, anh c&ograve;n gi&#7919; 2,200 ETH, tr&#7883; gi&aacute; 6.67 tri&#7879;u USD, &#273;ang &#273;&#7889;i di&#7879;n r&#7911;i ro th&ecirc;m n&#7871;u gi&aacute; Ethereum gi&#7843;m v&#7873; 2,991.43 USD.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-technical-weakness-and-market-stress-signals">D&#7845;u hi&#7879;u y&#7871;u k&eacute;m k&#7929; thu&#7853;t v&agrave; c&#259;ng th&#7859;ng tr&ecirc;n th&#7883; tr&#432;&#7901;ng</h2>

<p>Nhi&#7873;u ch&#7881; b&aacute;o th&#7883; tr&#432;&#7901;ng &#273;&atilde; th&#7875; hi&#7879;n s&#7921; c&#259;ng th&#7859;ng v&#432;&#7907;t ngo&agrave;i m&#7913;c gi&aacute; gi&#7843;m. <a href="https://x.com/Alphractal/status/2013723530009960454" target="_blank" rel="noopener">Ph&acirc;n t&iacute;ch k&#7929; thu&#7853;t</a> cho th&#7845;y ph&#7847;n l&#7899;n c&aacute;c altcoin &#273;&#7873;u &#273;ang c&oacute; ch&#7881; s&#7889; Relative Strength Index (RSI) khung ng&agrave;y d&#432;&#7899;i 50, b&aacute;o hi&#7879;u &aacute;p l&#7921;c b&aacute;n &#273;ang chi&#7871;m &#432;u th&#7871;. Ch&#7881; s&#7889; RSI dao &#273;&#7897;ng t&#7915; 0 &#273;&#7871;n 100, v&agrave; d&#432;&#7899;i 50 l&agrave; d&#7845;u hi&#7879;u t&acirc;m l&yacute; bi quan tr&ecirc;n th&#7883; tr&#432;&#7901;ng.</p>
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/9QovaP38I8ZuhRz2Zrnqydt2XdA=/smart/79dd6770c9d049fa98470cc439d2a2e2" alt="Ch&#7881; b&aacute;o &aacute;p l&#7921;c tr&ecirc;n th&#7883; tr&#432;&#7901;ng" class="wp-image-793679">C&aacute;c ch&#7881; b&aacute;o k&#7929; thu&#7853;t cho th&#7845;y RSI d&#432;&#7899;i 50 v&agrave; t&#7927; l&#7879; thanh l&yacute; &#7903; m&#7913;c cao. Ngu&#7891;n: Alphractal

<p><a href="https://x.com/Alphractal/status/2013723530009960454" target="_blank" rel="noreferrer noopener">T&#7927; l&#7879; thanh l&yacute; so v&#7899;i open-interest</a> trong 24 gi&#7901; qua c&#361;ng &#273;ang &#7903; m&#7913;c cao &#7903; ph&#7847;n l&#7899;n th&#7883; tr&#432;&#7901;ng, th&#7875; hi&#7879;n qu&aacute; tr&igrave;nh gi&#7843;m &#273;&ograve;n b&#7849;y r&otilde; r&#7879;t. T&#7927; l&#7879; n&agrave;y cho th&#7845;y ph&#7847;n tr&#259;m v&#7883; th&#7871; m&#7903; b&#7883; thanh l&yacute; v&agrave; th&#432;&#7901;ng t&#259;ng v&#7885;t trong giai &#273;o&#7841;n th&#7883; tr&#432;&#7901;ng b&#7883; c&#259;ng th&#7859;ng v&agrave; b&aacute;n th&aacute;o c&#432;&#7905;ng b&#7913;c.</p>
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>&ldquo;Ph&#7847;n l&#7899;n c&aacute;c altcoin giao d&#7883;ch v&#7899;i RSI ng&agrave;y d&#432;&#7899;i 50, cho th&#7845;y &aacute;p l&#7921;c b&aacute;n v&#7851;n c&ograve;n. Ngo&agrave;i ra, t&#7927; l&#7879; 24h Liquidations / Open Interest cao tr&ecirc;n to&agrave;n th&#7883; tr&#432;&#7901;ng, cho th&#7845;y r&#7845;t nhi&#7873;u nh&agrave; giao d&#7883;ch &#273;&atilde; b&#7883; thanh l&yacute; trong 24 gi&#7901; qua. &#272;&acirc;y l&agrave; m&#7897;t m&ocirc;i tr&#432;&#7901;ng gi&#7843;m &#273;&ograve;n b&#7849;y &#273;i&#7875;n h&igrave;nh, th&#7883; tr&#432;&#7901;ng c&#259;ng th&#7859;ng.&rdquo;</p>
</blockquote>

<p>Nh&#7919;ng &#273;&#7907;t thanh l&yacute; li&ecirc;n t&#7909;c n&agrave;y &#273;&atilde; l&agrave;m hao h&#7909;t ngu&#7891;n v&#7889;n c&#7911;a c&aacute;c nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867;, khi&#7871;n vi&#7879;c mua l&#7841;i &#7903; m&#7913;c gi&aacute; th&#7845;p h&#417;n c&agrave;ng kh&oacute; kh&#259;n. &#272;i&#7873;u n&agrave;y d&#7877; t&#7841;o ra v&ograve;ng xo&aacute;y gi&#7843;m gi&aacute; m&#7841;nh h&#417;n do s&#7889; l&#432;&#7907;ng ng&#432;&#7901;i mua b&#7883; thu h&#7865;p trong th&#7901;i &#273;i&#7875;m th&#7883; tr&#432;&#7901;ng c&#7847;n l&#7921;c c&#7847;u &#273;&#7875; &#7893;n &#273;&#7883;nh gi&aacute; nh&#7845;t.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-rising-global-liquidity-threats-intensify-market-pressure">C&aacute;c m&#7889;i &#273;e d&#7885;a v&#7873; thanh kho&#7843;n to&agrave;n c&#7847;u gia t&#259;ng, &aacute;p l&#7921;c l&ecirc;n th&#7883; tr&#432;&#7901;ng m&#7841;nh h&#417;n</h2>

<p>B&ecirc;n c&#7841;nh nh&#7919;ng th&#7917; th&aacute;ch n&#7897;i t&#7841;i, c&aacute;c y&#7871;u t&#7889; v&#297; m&ocirc; c&#361;ng l&agrave;m th&#7883; tr&#432;&#7901;ng bi&#7871;n &#273;&#7897;ng m&#7841;nh h&#417;n. Th&#7883; tr&#432;&#7901;ng tr&aacute;i phi&#7871;u Nh&#7853;t B&#7843;n &#273;&atilde; ch&#7913;ng ki&#7871;n s&#7921; thay &#273;&#7893;i l&#7899;n v&agrave;o ng&agrave;y 20/01/2026: l&#7907;i su&#7845;t tr&aacute;i phi&#7871;u ch&iacute;nh ph&#7911; Nh&#7853;t k&#7923; h&#7841;n 30 n&#259;m b&#7853;t t&#259;ng 25 &#273;i&#7875;m c&#417; b&#7843;n l&ecirc;n 3.86%, c&ograve;n k&#7923; h&#7841;n 10 n&#259;m t&#259;ng 8 &#273;i&#7875;m l&ecirc;n 2.34%. C&#7843; hai con s&#7889; n&agrave;y &#273;&#7873;u l&#7853;p k&#7927; l&#7909;c m&#7899;i c&#7911;a n&#7907; c&ocirc;ng Nh&#7853;t hi&#7879;n &#273;&#7841;i.</p>
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/CSCI_b_AgxVRNSKcF6d72FC1FDE=/smart/dc1217feea204060ac68808f36db6ed9" alt="Bi&#7875;u &#273;&#7891; l&#7907;i su&#7845;t tr&aacute;i phi&#7871;u ch&iacute;nh ph&#7911; Nh&#7853;t" class="wp-image-793682">L&#7907;i su&#7845;t tr&aacute;i phi&#7871;u ch&iacute;nh ph&#7911; Nh&#7853;t t&#259;ng v&#7885;t l&ecirc;n m&#7913;c k&#7927; l&#7909;c (Ngu&#7891;n: Ole S. Hansen)

<p>S&#7921; thay &#273;&#7893;i v&#7873; l&#7907;i su&#7845;t n&agrave;y c&oacute; &#7843;nh h&#432;&#7903;ng r&#7845;t l&#7899;n. L&#7907;i su&#7845;t th&#7845;p c&#7911;a tr&aacute;i phi&#7871;u Nh&#7853;t t&#7915;ng l&agrave; n&#7873;n t&#7843;ng cho thanh kho&#7843;n to&agrave;n c&#7847;u su&#7889;t nhi&#7873;u th&#7853;p k&#7927;, t&#7841;o &#273;i&#7873;u ki&#7879;n cho chi&#7871;n l&#432;&#7907;c &ldquo;carry trade&rdquo; &ndash; nh&agrave; &#273;&#7847;u t&#432; vay &#273;&#7891;ng Y&ecirc;n v&#7899;i l&atilde;i su&#7845;t th&#7845;p &#273;&#7875; &#273;&#7847;u t&#432; v&agrave;o t&agrave;i s&#7843;n sinh l&#7901;i cao h&#417;n, bao g&#7891;m c&#7843; ti&#7873;n m&atilde; h&oacute;a.</p>
<p>Tuy nhi&ecirc;n, khi <a href="https://vn.beincrypto.com/how-bessent-played-japan/" target="_blank" rel="noreferrer noopener">l&#7907;i su&#7845;t Nh&#7853;t</a> t&#259;ng, chi ph&iacute; duy tr&igrave; c&aacute;c v&#7883; th&#7871; &#273;&oacute; &#273;&#7855;t &#273;&#7887; h&#417;n nhi&#7873;u. K&#7871;t qu&#7843; l&agrave; d&ograve;ng ti&#7873;n c&oacute; xu h&#432;&#7899;ng quay tr&#7903; v&#7873; Nh&#7853;t, r&uacute;t kh&#7887;i c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro nh&#432; crypto. Ng&acirc;n h&agrave;ng Trung &#432;&#417;ng Nh&#7853;t hi&#7879;n c&#361;ng &#273;&#7889;i di&#7879;n l&#7921;a ch&#7885;n kh&oacute; kh&#259;n: n&#7871;u ki&#7875;m so&aacute;t l&atilde;i su&#7845;t s&#7869; l&agrave;m &#273;&#7891;ng Y&ecirc;n y&#7871;u &#273;i, c&ograve;n th&#7855;t ch&#7863;t ch&iacute;nh s&aacute;ch c&oacute; th&#7875; l&agrave;m m&eacute;o m&oacute; th&#7883; tr&#432;&#7901;ng ho&#7863;c gi&#7843;m ni&#7873;m tin nh&agrave; &#273;&#7847;u t&#432;. D&ugrave; l&#7921;a ch&#7885;n th&#7871; n&agrave;o, thanh kho&#7843;n to&agrave;n c&#7847;u c&#361;ng s&#7869; b&#7883; si&#7871;t l&#7841;i.</p>
<p>Th&ecirc;m v&agrave;o &#273;&oacute; l&agrave; &aacute;p l&#7921;c t&#7915; Di&#7877;n &#273;&agrave;n Kinh t&#7871; Th&#7871; gi&#7899;i t&#7841;i Davos, n&#417;i c&aacute;c cu&#7897;c th&#7843;o lu&#7853;n v&#7873; ch&iacute;nh s&aacute;ch c&oacute; th&#7875; l&agrave;m t&#259;ng r&#7911;i ro ph&aacute;p l&yacute;. S&#7921; ki&#7879;n th&#432;&#7901;ng ni&ecirc;n n&agrave;y th&#432;&#7901;ng t&#7841;o t&aacute;c &#273;&#7897;ng d&acirc;y chuy&#7873;n &#273;&#7871;n th&#7883; tr&#432;&#7901;ng, nh&#7845;t l&agrave; v&#7899;i l&#297;nh v&#7921;c crypto v&igrave; c&aacute;c t&agrave;i s&#7843;n s&#7889; lu&ocirc;n l&agrave; t&acirc;m &#273;i&#7875;m gi&aacute;m s&aacute;t c&#7911;a c&#417; quan qu&#7843;n l&yacute; tr&ecirc;n to&agrave;n c&#7847;u.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-continued-volatility-likely-ahead-for-crypto-markets">Bi&#7871;n &#273;&#7897;ng c&oacute; th&#7875; s&#7869; ti&#7871;p di&#7877;n tr&ecirc;n th&#7883; tr&#432;&#7901;ng crypto</h2>

<p>Nh&#7919;ng y&#7871;u t&#7889; k&#7929; thu&#7853;t y&#7871;u, v&#7889;n c&#7911;a nh&agrave; giao d&#7883;ch &#273;&ograve;n b&#7849;y b&#7883; h&uacute;t c&#7841;n v&agrave; thanh kho&#7843;n to&agrave;n c&#7847;u b&#7883; th&#7855;t ch&#7863;t &#273;&#7873;u b&aacute;o hi&#7879;u th&#7883; tr&#432;&#7901;ng c&ograve;n nhi&#7873;u b&#7845;t &#7893;n ph&iacute;a tr&#432;&#7899;c. Trong ng&#7855;n h&#7841;n, bi&#7871;n &#273;&#7897;ng c&oacute; th&#7875; t&#259;ng m&#7841;nh h&#417;n n&#7919;a khi nh&agrave; &#273;&#7847;u t&#432; ph&#7843;i h&#7845;p th&#7909; t&aacute;c &#273;&#7897;ng t&#7915; l&#7907;i su&#7845;t Nh&#7853;t B&#7843;n t&#259;ng v&agrave; t&iacute;n hi&#7879;u m&#7899;i t&#7915; Davos.</p>
<p>Nh&#7919;ng nh&agrave; giao d&#7883;ch d&ugrave;ng &#273;&ograve;n b&#7849;y cao v&#7851;n r&#7845;t r&#7911;i ro. Khi th&#7883; tr&#432;&#7901;ng x&#7845;u &#273;i, s&agrave;n s&#7869; t&#7921; &#273;&#7897;ng thanh l&yacute; v&#7883; th&#7871; &#273;&#7875; gi&#7843;m r&#7911;i ro &ndash; nhi&#7873;u khi khi&#7871;n t&agrave;i kho&#7843;n nh&agrave; giao d&#7883;ch v&#7873; con s&#7889; 0. C&#7897;ng &#273;&#7891;ng crypto g&#7885;i &#273;&acirc;y l&agrave; b&#7883; &ldquo;rekt&rdquo;, ngh&#297;a l&agrave; &ldquo;ch&aacute;y s&#7841;ch t&agrave;i kho&#7843;n&rdquo;.</p>
<p>Qu&#7843;n tr&#7883; r&#7911;i ro hi&#7879;u qu&#7843; l&agrave; &#273;i&#7873;u &#273;&#7863;c bi&#7879;t quan tr&#7885;ng khi t&#7927; l&#7879; thanh l&yacute; v&agrave; stress l&ecirc;n cao. Tuy nhi&ecirc;n, &#273;i&#7873;u ki&#7879;n th&#7883; tr&#432;&#7901;ng kh&ocirc;ng h&#7845;p d&#7851;n c&ugrave;ng vi&#7879;c c&#7841;n v&#7889;n s&#7869; h&#7841;n ch&#7871; l&#7921;c mua, khi&#7871;n gi&aacute; ti&#7871;p t&#7909;c ch&#7883;u &aacute;p l&#7921;c, &iacute;t nh&#7845;t l&agrave; cho &#273;&#7871;n khi gi&aacute; gi&#7843;m &#273;&#7911; s&acirc;u &#273;&#7875; h&uacute;t v&#7889;n m&#7899;i ho&#7863;c xu h&#432;&#7899;ng v&#297; m&ocirc; &#273;&#432;&#7907;c c&#7843;i thi&#7879;n.</p>
<p>V&agrave;i ng&agrave;y t&#7899;i s&#7869; l&agrave; th&#7901;i &#273;i&#7875;m quy&#7871;t &#273;&#7883;nh li&#7879;u th&#7883; tr&#432;&#7901;ng crypto c&oacute; th&#7875; v&#432;&#7907;t qua c&uacute; s&#7889;c n&agrave;y hay s&#7869; ti&#7871;p t&#7909;c ch&#7913;ng ki&#7871;n c&aacute;c &#273;&#7907;t thanh l&yacute; m&#7899;i khi &#273;i&#7873;u ki&#7879;n t&agrave;i ch&iacute;nh to&agrave;n c&#7847;u c&ograve;n nhi&#7873;u bi&#7871;n &#273;&#7897;ng.</p>


Thanh lý tiền mã hóa vượt 1 tỷ USD khi 182,000 nhà đầu tư nhỏ lẻ bị cháy tài khoản chỉ trong một ngày

<p>V&agrave;o ng&agrave;y 20/01/2026, th&#7883; tr&#432;&#7901;ng ti&#7873;n m&atilde; h&oacute;a &#273;&atilde; tr&#7843;i qua m&#7897;t &#273;&#7907;t gi&#7843;m &#273;&ograve;n b&#7849;y m&#7841;nh. H&#417;n 182,000 nh&agrave; giao d&#7883;ch b&#7883; thanh l&yacute; v&#7883; th&#7871;, v&#7899;i t&#7893;ng gi&aacute; tr&#7883; thanh l&yacute; v&#432;&#7907;t 1.08 t&#7927; USD. H&#7847;u h&#7871;t &#273;&#7873;u l&agrave; c&aacute;c l&#7879;nh Long b&#7883; &#273;&oacute;ng c&#432;&#7905;ng b&#7913;c khi c&aacute;c nh&agrave; giao d&#7883;ch h&#7907;p &#273;&#7891;ng t&#432;&#417;ng lai Bitcoin v&agrave; Ethereum b&#7883; cu&#7889;n v&agrave;o chu&#7895;i g&#7885;i k&yacute; qu&#7929; li&ecirc;n ti&#7871;p.</p>
<p>Hi&#7879;n t&#7841;i, c&aacute;c nh&agrave; giao d&#7883;ch &#273;ang ph&#7843;i &#273;&#7889;i m&#7863;t v&#7899;i m&#7913;c &#273;&ograve;n b&#7849;y cao trong b&#7889;i c&#7843;nh &aacute;p l&#7921;c kinh t&#7871; v&#297; m&ocirc; to&agrave;n c&#7847;u gia t&#259;ng v&agrave; y&#7871;u t&#7889; k&#7929; thu&#7853;t c&#7911;a c&aacute;c t&agrave;i s&#7843;n s&#7889; ti&#7871;p t&#7909;c y&#7871;u &#273;i.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-record-liquidations-hammer-leveraged-traders">L&#432;&#7907;ng thanh l&yacute; k&#7927; l&#7909;c g&acirc;y thi&#7879;t h&#7841;i cho c&aacute;c nh&agrave; giao d&#7883;ch s&#7917; d&#7909;ng &#273;&ograve;n b&#7849;y</h2>

<p>Theo <a href="https://www.coinglass.com/liquidations" target="_blank" rel="noopener">d&#7919; li&#7879;u t&#7915; CoinGlass</a>, trong 24 gi&#7901; k&#7871;t th&uacute;c ng&agrave;y 20/01/2026, &#273;&atilde; c&oacute; 182,729 nh&agrave; giao d&#7883;ch b&#7883; thanh l&yacute; v&#7883; th&#7871; v&agrave; t&#7893;ng s&#7889; ti&#7873;n l&ecirc;n &#273;&#7871;n 1.08 t&#7927; USD. Trong &#273;&oacute;, c&aacute;c l&#7879;nh Long chi&#7871;m h&#7847;u h&#7871;t v&#7899;i t&#7893;ng gi&aacute; tr&#7883; 1.08 t&#7927; USD, c&ograve;n s&#7889; thanh l&yacute; c&aacute;c l&#7879;nh Short ch&#7881; &#7903; m&#7913;c 79.67 tri&#7879;u USD.</p>
<p>Bitcoin ghi nh&#7853;n s&#7889; l&#7879;nh Long b&#7883; thanh l&yacute; tr&#7883; gi&aacute; 427.06 tri&#7879;u USD, trong khi Ethereum x&#7871;p sau v&#7899;i 374.47 tri&#7879;u USD. L&#7879;nh thanh l&yacute; l&#7899;n nh&#7845;t tr&ecirc;n s&agrave;n Bitget l&agrave; v&#7883; th&#7871; BTCUSDT_UMCBL, tr&#7883; gi&aacute; 13.52 tri&#7879;u USD. M&#7897;t s&#7889; s&agrave;n l&#7899;n c&#361;ng ghi nh&#7853;n con s&#7889; &#273;&aacute;ng ch&uacute; &yacute;: Hyperliquid c&oacute; 132.39 tri&#7879;u USD l&#7879;nh Long b&#7883; thanh l&yacute;, Bybit l&agrave; 91.35 tri&#7879;u USD v&agrave; Binance l&agrave; 64.08 tri&#7879;u USD ch&#7881; trong v&ograve;ng 4 ti&#7871;ng &#273;&#7891;ng h&#7891;.</p>
<p>Thanh l&yacute; x&#7843;y ra khi s&agrave;n giao d&#7883;ch t&#7921; &#273;&#7897;ng &#273;&oacute;ng v&#7883; th&#7871; &#273;&ograve;n b&#7849;y c&#7911;a nh&agrave; giao d&#7883;ch do t&agrave;i s&#7843;n k&yacute; qu&#7929; kh&ocirc;ng &#273;&#7911; &#273;&#7875; b&ugrave; l&#7895;. Khi gi&aacute; bi&#7871;n &#273;&#7897;ng ng&#432;&#7907;c l&#7841;i v&#7899;i c&aacute;c v&#7883; th&#7871; d&ugrave;ng &#273;&ograve;n b&#7849;y cao, s&agrave;n s&#7869; t&#7921; &#273;&#7897;ng b&aacute;n t&agrave;i s&#7843;n th&#7871; ch&#7845;p, khi&#7871;n gi&aacute; lao d&#7889;c v&agrave; k&iacute;ch ho&#7841;t th&ecirc;m nhi&#7873;u l&#7879;nh g&#7885;i k&yacute; qu&#7929; n&#7919;a, t&#7841;o th&agrave;nh hi&#7879;u &#7913;ng domino.</p>
<p>Nhi&#7873;u nh&agrave; giao d&#7883;ch n&#7893;i ti&#7871;ng c&#361;ng ch&#7883;u &#7843;nh h&#432;&#7903;ng n&#7863;ng. <a href="https://x.com/lookonchain/status/2013635534921351322" target="_blank" rel="noopener">Machi Big Brother</a>, m&#7897;t nh&agrave; &#273;&#7847;u t&#432; n&#7893;i b&#7853;t, &#273;&atilde; b&#7883; thanh l&yacute; t&#7899;i 5 l&#7847;n ch&#7881; trong m&#7897;t ng&agrave;y. T&#7893;ng s&#7889; l&#7895; c&#7911;a anh n&agrave;y l&ecirc;n &#273;&#7871;n 24.18 tri&#7879;u USD. Ngo&agrave;i ra, anh c&ograve;n gi&#7919; 2,200 ETH, tr&#7883; gi&aacute; 6.67 tri&#7879;u USD, &#273;ang &#273;&#7889;i di&#7879;n r&#7911;i ro th&ecirc;m n&#7871;u gi&aacute; Ethereum gi&#7843;m v&#7873; 2,991.43 USD.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-technical-weakness-and-market-stress-signals">D&#7845;u hi&#7879;u y&#7871;u k&eacute;m k&#7929; thu&#7853;t v&agrave; c&#259;ng th&#7859;ng tr&ecirc;n th&#7883; tr&#432;&#7901;ng</h2>

<p>Nhi&#7873;u ch&#7881; b&aacute;o th&#7883; tr&#432;&#7901;ng &#273;&atilde; th&#7875; hi&#7879;n s&#7921; c&#259;ng th&#7859;ng v&#432;&#7907;t ngo&agrave;i m&#7913;c gi&aacute; gi&#7843;m. <a href="https://x.com/Alphractal/status/2013723530009960454" target="_blank" rel="noopener">Ph&acirc;n t&iacute;ch k&#7929; thu&#7853;t</a> cho th&#7845;y ph&#7847;n l&#7899;n c&aacute;c altcoin &#273;&#7873;u &#273;ang c&oacute; ch&#7881; s&#7889; Relative Strength Index (RSI) khung ng&agrave;y d&#432;&#7899;i 50, b&aacute;o hi&#7879;u &aacute;p l&#7921;c b&aacute;n &#273;ang chi&#7871;m &#432;u th&#7871;. Ch&#7881; s&#7889; RSI dao &#273;&#7897;ng t&#7915; 0 &#273;&#7871;n 100, v&agrave; d&#432;&#7899;i 50 l&agrave; d&#7845;u hi&#7879;u t&acirc;m l&yacute; bi quan tr&ecirc;n th&#7883; tr&#432;&#7901;ng.</p>
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/9QovaP38I8ZuhRz2Zrnqydt2XdA=/smart/79dd6770c9d049fa98470cc439d2a2e2" alt="Ch&#7881; b&aacute;o &aacute;p l&#7921;c tr&ecirc;n th&#7883; tr&#432;&#7901;ng" class="wp-image-793679">C&aacute;c ch&#7881; b&aacute;o k&#7929; thu&#7853;t cho th&#7845;y RSI d&#432;&#7899;i 50 v&agrave; t&#7927; l&#7879; thanh l&yacute; &#7903; m&#7913;c cao. Ngu&#7891;n: Alphractal

<p><a href="https://x.com/Alphractal/status/2013723530009960454" target="_blank" rel="noreferrer noopener">T&#7927; l&#7879; thanh l&yacute; so v&#7899;i open-interest</a> trong 24 gi&#7901; qua c&#361;ng &#273;ang &#7903; m&#7913;c cao &#7903; ph&#7847;n l&#7899;n th&#7883; tr&#432;&#7901;ng, th&#7875; hi&#7879;n qu&aacute; tr&igrave;nh gi&#7843;m &#273;&ograve;n b&#7849;y r&otilde; r&#7879;t. T&#7927; l&#7879; n&agrave;y cho th&#7845;y ph&#7847;n tr&#259;m v&#7883; th&#7871; m&#7903; b&#7883; thanh l&yacute; v&agrave; th&#432;&#7901;ng t&#259;ng v&#7885;t trong giai &#273;o&#7841;n th&#7883; tr&#432;&#7901;ng b&#7883; c&#259;ng th&#7859;ng v&agrave; b&aacute;n th&aacute;o c&#432;&#7905;ng b&#7913;c.</p>
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>&ldquo;Ph&#7847;n l&#7899;n c&aacute;c altcoin giao d&#7883;ch v&#7899;i RSI ng&agrave;y d&#432;&#7899;i 50, cho th&#7845;y &aacute;p l&#7921;c b&aacute;n v&#7851;n c&ograve;n. Ngo&agrave;i ra, t&#7927; l&#7879; 24h Liquidations / Open Interest cao tr&ecirc;n to&agrave;n th&#7883; tr&#432;&#7901;ng, cho th&#7845;y r&#7845;t nhi&#7873;u nh&agrave; giao d&#7883;ch &#273;&atilde; b&#7883; thanh l&yacute; trong 24 gi&#7901; qua. &#272;&acirc;y l&agrave; m&#7897;t m&ocirc;i tr&#432;&#7901;ng gi&#7843;m &#273;&ograve;n b&#7849;y &#273;i&#7875;n h&igrave;nh, th&#7883; tr&#432;&#7901;ng c&#259;ng th&#7859;ng.&rdquo;</p>
</blockquote>

<p>Nh&#7919;ng &#273;&#7907;t thanh l&yacute; li&ecirc;n t&#7909;c n&agrave;y &#273;&atilde; l&agrave;m hao h&#7909;t ngu&#7891;n v&#7889;n c&#7911;a c&aacute;c nh&agrave; &#273;&#7847;u t&#432; nh&#7887; l&#7867;, khi&#7871;n vi&#7879;c mua l&#7841;i &#7903; m&#7913;c gi&aacute; th&#7845;p h&#417;n c&agrave;ng kh&oacute; kh&#259;n. &#272;i&#7873;u n&agrave;y d&#7877; t&#7841;o ra v&ograve;ng xo&aacute;y gi&#7843;m gi&aacute; m&#7841;nh h&#417;n do s&#7889; l&#432;&#7907;ng ng&#432;&#7901;i mua b&#7883; thu h&#7865;p trong th&#7901;i &#273;i&#7875;m th&#7883; tr&#432;&#7901;ng c&#7847;n l&#7921;c c&#7847;u &#273;&#7875; &#7893;n &#273;&#7883;nh gi&aacute; nh&#7845;t.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-rising-global-liquidity-threats-intensify-market-pressure">C&aacute;c m&#7889;i &#273;e d&#7885;a v&#7873; thanh kho&#7843;n to&agrave;n c&#7847;u gia t&#259;ng, &aacute;p l&#7921;c l&ecirc;n th&#7883; tr&#432;&#7901;ng m&#7841;nh h&#417;n</h2>

<p>B&ecirc;n c&#7841;nh nh&#7919;ng th&#7917; th&aacute;ch n&#7897;i t&#7841;i, c&aacute;c y&#7871;u t&#7889; v&#297; m&ocirc; c&#361;ng l&agrave;m th&#7883; tr&#432;&#7901;ng bi&#7871;n &#273;&#7897;ng m&#7841;nh h&#417;n. Th&#7883; tr&#432;&#7901;ng tr&aacute;i phi&#7871;u Nh&#7853;t B&#7843;n &#273;&atilde; ch&#7913;ng ki&#7871;n s&#7921; thay &#273;&#7893;i l&#7899;n v&agrave;o ng&agrave;y 20/01/2026: l&#7907;i su&#7845;t tr&aacute;i phi&#7871;u ch&iacute;nh ph&#7911; Nh&#7853;t k&#7923; h&#7841;n 30 n&#259;m b&#7853;t t&#259;ng 25 &#273;i&#7875;m c&#417; b&#7843;n l&ecirc;n 3.86%, c&ograve;n k&#7923; h&#7841;n 10 n&#259;m t&#259;ng 8 &#273;i&#7875;m l&ecirc;n 2.34%. C&#7843; hai con s&#7889; n&agrave;y &#273;&#7873;u l&#7853;p k&#7927; l&#7909;c m&#7899;i c&#7911;a n&#7907; c&ocirc;ng Nh&#7853;t hi&#7879;n &#273;&#7841;i.</p>
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/CSCI_b_AgxVRNSKcF6d72FC1FDE=/smart/dc1217feea204060ac68808f36db6ed9" alt="Bi&#7875;u &#273;&#7891; l&#7907;i su&#7845;t tr&aacute;i phi&#7871;u ch&iacute;nh ph&#7911; Nh&#7853;t" class="wp-image-793682">L&#7907;i su&#7845;t tr&aacute;i phi&#7871;u ch&iacute;nh ph&#7911; Nh&#7853;t t&#259;ng v&#7885;t l&ecirc;n m&#7913;c k&#7927; l&#7909;c (Ngu&#7891;n: Ole S. Hansen)

<p>S&#7921; thay &#273;&#7893;i v&#7873; l&#7907;i su&#7845;t n&agrave;y c&oacute; &#7843;nh h&#432;&#7903;ng r&#7845;t l&#7899;n. L&#7907;i su&#7845;t th&#7845;p c&#7911;a tr&aacute;i phi&#7871;u Nh&#7853;t t&#7915;ng l&agrave; n&#7873;n t&#7843;ng cho thanh kho&#7843;n to&agrave;n c&#7847;u su&#7889;t nhi&#7873;u th&#7853;p k&#7927;, t&#7841;o &#273;i&#7873;u ki&#7879;n cho chi&#7871;n l&#432;&#7907;c &ldquo;carry trade&rdquo; &ndash; nh&agrave; &#273;&#7847;u t&#432; vay &#273;&#7891;ng Y&ecirc;n v&#7899;i l&atilde;i su&#7845;t th&#7845;p &#273;&#7875; &#273;&#7847;u t&#432; v&agrave;o t&agrave;i s&#7843;n sinh l&#7901;i cao h&#417;n, bao g&#7891;m c&#7843; ti&#7873;n m&atilde; h&oacute;a.</p>
<p>Tuy nhi&ecirc;n, khi <a href="https://vn.beincrypto.com/how-bessent-played-japan/" target="_blank" rel="noreferrer noopener">l&#7907;i su&#7845;t Nh&#7853;t</a> t&#259;ng, chi ph&iacute; duy tr&igrave; c&aacute;c v&#7883; th&#7871; &#273;&oacute; &#273;&#7855;t &#273;&#7887; h&#417;n nhi&#7873;u. K&#7871;t qu&#7843; l&agrave; d&ograve;ng ti&#7873;n c&oacute; xu h&#432;&#7899;ng quay tr&#7903; v&#7873; Nh&#7853;t, r&uacute;t kh&#7887;i c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro nh&#432; crypto. Ng&acirc;n h&agrave;ng Trung &#432;&#417;ng Nh&#7853;t hi&#7879;n c&#361;ng &#273;&#7889;i di&#7879;n l&#7921;a ch&#7885;n kh&oacute; kh&#259;n: n&#7871;u ki&#7875;m so&aacute;t l&atilde;i su&#7845;t s&#7869; l&agrave;m &#273;&#7891;ng Y&ecirc;n y&#7871;u &#273;i, c&ograve;n th&#7855;t ch&#7863;t ch&iacute;nh s&aacute;ch c&oacute; th&#7875; l&agrave;m m&eacute;o m&oacute; th&#7883; tr&#432;&#7901;ng ho&#7863;c gi&#7843;m ni&#7873;m tin nh&agrave; &#273;&#7847;u t&#432;. D&ugrave; l&#7921;a ch&#7885;n th&#7871; n&agrave;o, thanh kho&#7843;n to&agrave;n c&#7847;u c&#361;ng s&#7869; b&#7883; si&#7871;t l&#7841;i.</p>
<p>Th&ecirc;m v&agrave;o &#273;&oacute; l&agrave; &aacute;p l&#7921;c t&#7915; Di&#7877;n &#273;&agrave;n Kinh t&#7871; Th&#7871; gi&#7899;i t&#7841;i Davos, n&#417;i c&aacute;c cu&#7897;c th&#7843;o lu&#7853;n v&#7873; ch&iacute;nh s&aacute;ch c&oacute; th&#7875; l&agrave;m t&#259;ng r&#7911;i ro ph&aacute;p l&yacute;. S&#7921; ki&#7879;n th&#432;&#7901;ng ni&ecirc;n n&agrave;y th&#432;&#7901;ng t&#7841;o t&aacute;c &#273;&#7897;ng d&acirc;y chuy&#7873;n &#273;&#7871;n th&#7883; tr&#432;&#7901;ng, nh&#7845;t l&agrave; v&#7899;i l&#297;nh v&#7921;c crypto v&igrave; c&aacute;c t&agrave;i s&#7843;n s&#7889; lu&ocirc;n l&agrave; t&acirc;m &#273;i&#7875;m gi&aacute;m s&aacute;t c&#7911;a c&#417; quan qu&#7843;n l&yacute; tr&ecirc;n to&agrave;n c&#7847;u.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-continued-volatility-likely-ahead-for-crypto-markets">Bi&#7871;n &#273;&#7897;ng c&oacute; th&#7875; s&#7869; ti&#7871;p di&#7877;n tr&ecirc;n th&#7883; tr&#432;&#7901;ng crypto</h2>

<p>Nh&#7919;ng y&#7871;u t&#7889; k&#7929; thu&#7853;t y&#7871;u, v&#7889;n c&#7911;a nh&agrave; giao d&#7883;ch &#273;&ograve;n b&#7849;y b&#7883; h&uacute;t c&#7841;n v&agrave; thanh kho&#7843;n to&agrave;n c&#7847;u b&#7883; th&#7855;t ch&#7863;t &#273;&#7873;u b&aacute;o hi&#7879;u th&#7883; tr&#432;&#7901;ng c&ograve;n nhi&#7873;u b&#7845;t &#7893;n ph&iacute;a tr&#432;&#7899;c. Trong ng&#7855;n h&#7841;n, bi&#7871;n &#273;&#7897;ng c&oacute; th&#7875; t&#259;ng m&#7841;nh h&#417;n n&#7919;a khi nh&agrave; &#273;&#7847;u t&#432; ph&#7843;i h&#7845;p th&#7909; t&aacute;c &#273;&#7897;ng t&#7915; l&#7907;i su&#7845;t Nh&#7853;t B&#7843;n t&#259;ng v&agrave; t&iacute;n hi&#7879;u m&#7899;i t&#7915; Davos.</p>
<p>Nh&#7919;ng nh&agrave; giao d&#7883;ch d&ugrave;ng &#273;&ograve;n b&#7849;y cao v&#7851;n r&#7845;t r&#7911;i ro. Khi th&#7883; tr&#432;&#7901;ng x&#7845;u &#273;i, s&agrave;n s&#7869; t&#7921; &#273;&#7897;ng thanh l&yacute; v&#7883; th&#7871; &#273;&#7875; gi&#7843;m r&#7911;i ro &ndash; nhi&#7873;u khi khi&#7871;n t&agrave;i kho&#7843;n nh&agrave; giao d&#7883;ch v&#7873; con s&#7889; 0. C&#7897;ng &#273;&#7891;ng crypto g&#7885;i &#273;&acirc;y l&agrave; b&#7883; &ldquo;rekt&rdquo;, ngh&#297;a l&agrave; &ldquo;ch&aacute;y s&#7841;ch t&agrave;i kho&#7843;n&rdquo;.</p>
<p>Qu&#7843;n tr&#7883; r&#7911;i ro hi&#7879;u qu&#7843; l&agrave; &#273;i&#7873;u &#273;&#7863;c bi&#7879;t quan tr&#7885;ng khi t&#7927; l&#7879; thanh l&yacute; v&agrave; stress l&ecirc;n cao. Tuy nhi&ecirc;n, &#273;i&#7873;u ki&#7879;n th&#7883; tr&#432;&#7901;ng kh&ocirc;ng h&#7845;p d&#7851;n c&ugrave;ng vi&#7879;c c&#7841;n v&#7889;n s&#7869; h&#7841;n ch&#7871; l&#7921;c mua, khi&#7871;n gi&aacute; ti&#7871;p t&#7909;c ch&#7883;u &aacute;p l&#7921;c, &iacute;t nh&#7845;t l&agrave; cho &#273;&#7871;n khi gi&aacute; gi&#7843;m &#273;&#7911; s&acirc;u &#273;&#7875; h&uacute;t v&#7889;n m&#7899;i ho&#7863;c xu h&#432;&#7899;ng v&#297; m&ocirc; &#273;&#432;&#7907;c c&#7843;i thi&#7879;n.</p>
<p>V&agrave;i ng&agrave;y t&#7899;i s&#7869; l&agrave; th&#7901;i &#273;i&#7875;m quy&#7871;t &#273;&#7883;nh li&#7879;u th&#7883; tr&#432;&#7901;ng crypto c&oacute; th&#7875; v&#432;&#7907;t qua c&uacute; s&#7889;c n&agrave;y hay s&#7869; ti&#7871;p t&#7909;c ch&#7913;ng ki&#7871;n c&aacute;c &#273;&#7907;t thanh l&yacute; m&#7899;i khi &#273;i&#7873;u ki&#7879;n t&agrave;i ch&iacute;nh to&agrave;n c&#7847;u c&ograve;n nhi&#7873;u bi&#7871;n &#273;&#7897;ng.</p>
