Dogecoin and Major Cryptocurrencies Suffer Losses

狗狗幣和主要加密貨幣遭受損失

Dogecoin (DOGE) faced significant losses, contributing to a decline across major cryptocurrencies. Bitcoin (BTC) retreated to approximately $93,000 due to new economic data that caused U.S. Treasury yields to rise sharply.

狗狗幣（DOGE）面臨重大損失，導致主要加密貨幣下跌。由於新的經濟數據導緻美國公債殖利率大幅上漲，比特幣（BTC）回落至約 93,000 美元。

DOGE plummeted by 14%, while other prominent cryptocurrencies such as Solana (SOL), Cardano (ADA), BNB Chain (BNB), and Ethereum (ETH) also experienced declines of at least 7%. Bitcoin itself dipped by 5.5%.

DOGE 暴跌 14%，而其他知名加密貨幣，如 Solana (SOL)、Cardano (ADA)、BNB Chain (BNB) 和以太坊 (ETH) 也經歷了至少 7% 的下跌。比特幣本身下跌了 5.5%。

The downturn in the crypto market mirrored losses in U.S. stocks. A report from the Institute for Supply Management (ISM) indicated stronger-than-anticipated performance in U.S. service providers, with the price-paid measure reaching its highest point since early 2023. Additionally, U.S. job openings surpassed forecasts, resulting in a decline in Treasury securities and driving the 10-year Treasury yield to its peak since May.

Liquidations in crypto markets reached $560 million, signifying a substantial level at the year's start. Liquidation occurs when exchanges terminate traders' leveraged positions due to unfulfilled margin requirements, igniting a cycle of falling prices and further liquidations.

加密貨幣市場的清算額達到 5.6 億美元，這標誌著年初的一個相當大的水平。當交易所因未滿足保證金要求而終止交易者的槓桿部位時，就會發生清算，引發價格下跌和進一步清算的循環。

Market analysts interpret this recent dip as a temporary setback. Vince Yang, CEO of zkLink, remarked that robust job figures have tempered expectations of interest rate cuts, but he maintains optimism about future market movements. He suggests that such fluctuations could prompt larger bullish trends, particularly with a more crypto-friendly U.S. administration on the horizon.

市場分析師將最近的下跌解讀為暫時的挫折。 zkLink執行長楊文斯表示，強勁的就業數據緩和了降息預期，但他對未來市場走勢保持樂觀。他認為，這種波動可能引發更大的看漲趨勢，特別是在美國政府即將推出對加密貨幣更友善的情況下。

However, QCP Capital cautions against potential instability in the crypto markets as January approaches, expressing concerns about the U.S. Treasury debt ceiling and potential increases in market volatility.

然而，隨著 1 月的臨近，QCP Capital 對加密貨幣市場潛在的不穩定發出警告，表達了對美國國債上限和市場波動性可能增加的擔憂。