Key Factors Contributing to the Recent Crypto Market Decline

導致近期加密貨幣市場下跌的關鍵因素

Since January 22, 2025, the cryptocurrency market has witnessed a significant decline:

自2025年1月22日以來，加密貨幣市場出現大幅下跌：

• Total market cap: -3.64%
• Altcoin market cap: -2.72%
• Market cap excluding top 10 cryptos: -5.2%

In the last 24 hours, major cryptocurrencies have also experienced losses:

總市值：-3.64% 山寨幣市值：-2.72% 不包括前 10 名加密貨幣的市值：-5.2% 在過去 24 小時內，主要加密貨幣也經歷了損失：

• Bitcoin (BTC): -3%
• Ethereum (ETH): -3%
• Ripple (XRP): -2%
• Solana (SOL): -2.5%
• Binance Coin (BNB): -1.9%
• Dogecoin (DOGE): -3.5%
• Cardano (ADA): -3.5%

Reasons for the Downturn:

比特幣（BTC）：-3%以太幣（ETH）：-3%瑞波幣（XRP）：-2%Solana（SOL）：-2.5%幣安幣（BNB）：-1.9%狗狗幣（DOGE )：-3.5rdano (ADA)：-3.5% 下滑的原因：

• Disappointment from Trump's Speech:

  對川普講話的失望：

  • Investors anticipated a mention of a Bitcoin reserve plan during Trump's inaugural address, but it was omitted. This disappointment has contributed to the decline.

• Bank of Japan Rate Hike Speculation:

  投資者預計川普在就職演說中會提到比特幣儲備計劃，但被省略了。這種失望情緒導致了下跌。

  • Rumors suggest a potential interest rate increase of 25 basis points to 0.5% tomorrow, which could impact the crypto market.

• US Federal Reserve Meeting:

  有傳言稱明天可能升息 25 個基點至 0.5%，這可能會影響加密貨幣市場。

  • The Federal Reserve is expected to maintain interest rates at the upcoming January 29 meeting.
  • Despite previous indications of rate cuts, current economic conditions suggest this is unlikely.

• Rising US Dollar Index and Treasury Yields:

  預計聯準會將在即將召開的 1 月 29 日會議上維持利率不變。

  • The US dollar index has climbed by approximately 4.16% since November, while 10-year Treasury bond yields have reached their highest levels since April 2024.
  • These developments typically lead to a decrease in crypto prices.

• BTC and ETH Options Expiry:

  自 11 月以來，美元指數已上漲約 4.16%，而 10 年期公債殖利率已達到 2024 年 4 月以來的最高水準。

  • A significant number of BTC and ETH options are set to expire soon, potentially contributing to increased volatility and price fluctuations.

Conclusion:

大量 BTC 和 ETH 選擇權即將到期，可能會導致波動性和價格波動加劇。

The cryptocurrency market's recent selloff reflects a combination of macroeconomic factors, political developments, and technical influences. Investors should monitor regulatory updates, rate changes, and market trends to make informed decisions while navigating global uncertainties and the market's ongoing recovery.

加密貨幣市場最近的拋售反映了宏觀經濟因素、政治發展和技術影響的綜合作用。投資者應監控監管更新、利率變化和市場趨勢，以便在應對全球不確定性和市場持續復甦的同時做出明智的決策。