Dogecoin Leads Major Crypto Declines as Bitcoin Drops

隨著比特幣下跌，狗狗幣引領加密貨幣大幅下跌

Dogecoin (DOGE) led the losses among major cryptocurrencies as Bitcoin (BTC) fell to approximately $96,000. The decline is attributed to rising U.S. Treasury yields driven by stronger-than-expected economic data.

隨著比特幣 (BTC) 跌至約 96,000 美元，狗狗幣 (DOGE) 在主要加密貨幣中領跌。下跌的原因是強於預期的經濟數據推動美國公債殖利率上升。

Widespread Crypto Market Losses

加密貨幣市場普遍虧損

DOGE saw a steep 10% decline, while other major tokens such as Solana (SOL), Cardano (ADA), BNB Chain (BNB), and Ether (ETH) all suffered losses of at least 7%. Bitcoin itself fell by 5.5%, contributing to a 7.1% drop in the CoinDesk 20 (CD20) index.

DOGE 暴跌 10%，而其他主要代幣如 Solana (SOL)、Cardano (ADA)、BNB Chain (BNB) 和 Ether (ETH) 均遭受至少 7% 的損失。比特幣本身下跌了 5.5%，導致 CoinDesk 20 (CD20) 指數下跌 7.1%。

Futures Market Liquidations Reach $560 Million

期貨市場清算額達 5.6 億美元

Futures markets experienced significant liquidations totaling $560 million, highlighting the risks of using margin in volatile markets. Liquidations occur when exchanges forcibly close leveraged positions.

期貨市場經歷了總計 5.6 億美元的大規模清算，凸顯了在波動市場中使用保證金的風險。當交易所強制平倉槓桿部位時，就會發生清算。

Impact of U.S. Economic Data

美國經濟數據的影響

The Institute for Supply Management (ISM) Services Index exceeded expectations, with its price payments measure reaching its highest level since early 2023. Additionally, U.S. job openings surpassed forecasts, intensifying concerns about Federal Reserve interest rate policies. These developments pushed the 10-year Treasury yield to its highest level since May, putting downward pressure on risk assets like cryptocurrencies.

美國供應管理協會（ISM）服務業指數超出預期，其價格支付指標達到2023年初以來的最高水準。這些事態發展將10年期公債殖利率推升至5月份以來的最高水平，對加密貨幣等風險資產造成下行壓力。

Expert Insights

專家見解

Vince Yang, CEO of zkLink, noted, "Markets took a hit yesterday, with Bitcoin and Ethereum dropping significantly. Stronger-than-expected U.S. job data reduced the likelihood of more rate cuts this year. This is not unusual for crypto."

zkLink執行長Vince Yang指出，“昨天市場受到打擊，比特幣和以太坊大幅下跌。強於預期的美國就業數據降低了今年進一步降息的可能性。這對於加密貨幣來說並不罕見。”

QCP Capital, a Singapore-based trading firm, added, "We expect a turbulent January for crypto markets. The reinstatement of the U.S. debt ceiling could trigger additional volatility."

總部位於新加坡的貿易公司 QCP Capital 補充道：“我們預計加密貨幣市場將在 1 月出現動盪。美國債務上限的恢復可能會引發進一步的波動。”

Outlook for Recovery

復甦前景

Market observers suggest that while the Tuesday drop is notable, the long-term potential for a rebound remains strong. Investors are advised to monitor the impact of economic data on crypto assets closely.

市場觀察家表示，儘管週二的跌幅顯著，但長期反彈的潛力仍然強勁。建議投資人密切關注經濟數據對加密資產的影響。