Crypto Market Selloff: Reasons Behind the Plunge

Today, the cryptocurrency market has experienced a steep decline, with significant cryptos such as Bitcoin, ETH, BNB, SOL, XRP, and DOGE retreating. This sudden shift in sentiment from earlier in the week has sparked discussions within the market about potential reasons for the selloff.

加密貨幣市場拋售：暴跌背後的原因如今，加密貨幣市場經歷了大幅下跌，比特幣、ETH、BNB、SOL、XRP 和 DOGE 等重要加密貨幣紛紛回落。本週稍早情緒的突然轉變引發了市場內部關於拋售潛在原因的討論。

Causes of the Selloff

Despite the positive momentum witnessed throughout the week, the sentiment shifted on Friday, triggering a massive selloff. This occurred following the release of U.S. job data by the Labor Department on June 7th.

拋售的原因儘管本週出現了積極的勢頭，但周五市場情緒發生了轉變，引發了大規模拋售。這是在勞工部 6 月 7 日發布美國就業數據之後發生的。

The data showed a stronger-than-expected increase in employment, with 272,000 jobs added in May. While the unemployment rate also increased, the robust non-farm payroll data weighed on investors' confidence. This dimmed hopes for a potential interest rate cut by the U.S. Federal Reserve, sparking concerns in the financial sector and the crypto market.

數據顯示就業成長強於預期，5 月新增就業 27.2 萬個。儘管失業率也有所上升，但強勁的非農就業數據打壓了投資者的信心。這降低了聯準會可能降息的希望，引發了金融領域和加密貨幣市場的擔憂。

Additionally, GameStop (GME) announced its decision to sell $175 million in shares, leading to concerns in the broader market. GME stock closed down nearly 40% on Friday, June 7th. Subsequently, leading meme coins such as GME, DOGE, and SHIB have also declined.

此外，GameStop (GME) 宣布決定出售 1.75 億美元的股票，引發了更廣泛市場的擔憂。 6 月 7 日星期五，GME 股票收盤下跌近 40%。隨後，GME、DOGE、SHIB等主流迷因幣也紛紛下跌。

Market Fallout

The volatility has resulted in significant liquidations. According to CoinGlass data, approximately 147,330 traders were liquidated in the past 24 hours, with estimated losses of $411.25 million. The largest single liquidation occurred on OKX, involving an ETH-USD-SWAP worth $5.20 million.

市場影響波動導致大量清算。根據 CoinGlass 數據，過去 24 小時內約有 147,330 名交易者被清算，預計損失達 4.1125 億美元。最大單筆清算發生在 OKX，涉及價值 520 萬美元的 ETH-USD-SWAP。

Meanwhile, the global crypto market cap has decreased 3.47% to $2.55 trillion due to rate-cut concerns. Bitcoin price has fallen 2.81% to $69,275.03, while Ethereum has dropped 3.6% to $3,681.7. Solana has plunged 6% to $162.11, and XRP has lost 5% to $0.4998.

同時，由於降息擔憂，全球加密貨幣市值下降 3.47% 至 2.55 兆美元。比特幣價格下跌 2.81% 至 69,275.03 美元，以太幣價格下跌 3.6% 至 3,681.7 美元。 Solana 暴跌 6% 至 162.11 美元，XRP 下跌 5% 至 0.4998 美元。

Outlook

Despite the recent decline, some investors remain optimistic about a potential rebound. Notably, U.S. Spot Bitcoin ETFs have experienced a significant influx, indicating institutional interest in the leading cryptocurrency.

展望儘管最近出現下跌，但一些投資者仍對潛在反彈持樂觀態度。值得注意的是，美國現貨比特幣 ETF 經歷了大量湧入，表明機構對領先的加密貨幣感興趣。