Dogecoin Slumps Amid Economic Data-Fueled Bitcoin Dip

經濟數據推動比特幣下跌，狗狗幣暴跌

Dogecoin (DOGE) led declines among major cryptocurrencies as Bitcoin (BTC) dropped to near $96,000. Fresh economic data spurred a surge in U.S. treasury yields, driving a market sell-off.

隨著比特幣 (BTC) 跌至 96,000 美元附近，狗狗幣 (DOGE) 在主要加密貨幣中領跌。新的經濟數據刺激美國公債殖利率飆升，推動市場拋售。

DOGE saw a 10% decline, with Solana's SOL, Cardano's ADA, BNB Chain's BNB, and Ethereum (ETH) also experiencing losses of at least 7%. Bitcoin fell 5.5%, while the CoinDesk 20 (CD20) index, tracking top tokens by market capitalization, declined by 7.1%.

DOGE 下跌了 10%，Solana 的 SOL、Cardano 的 ADA、BNB Chain 的 BNB 和以太坊（ETH）也經歷了至少 7% 的損失。比特幣下跌 5.5%，而追蹤市值最高代幣的 CoinDesk 20 (CD20) 指數下跌 7.1%。

Analysis reveals $560 million in liquidations of crypto-tracked futures betting on higher prices, setting a relatively high level for the year's start.

分析顯示，押注價格上漲的加密貨幣追蹤期貨清算額為 5.6 億美元，為年初設定了相對較高的水平。

Crypto losses mirrored declines in U.S. stocks. A stronger-than-expected report from the Institute for Supply Management (ISM) on U.S. service providers, with prices-paid reaching their highest since early 2023, ignited concerns.

加密貨幣的損失反映了美國股市的下跌。美國供應管理協會 (ISM) 發布的關於美國服務提供者的強於預期的報告引發了擔憂，支付價格達到 2023 年初以來的最高水準。

Concurrently, U.S. job openings exceeded forecasts, leading to a decrease in Treasury securities across maturities and pushing the 10-year Treasury yield to its highest since May.

同時，美國職缺超出預期，導致各期限國債下跌，並將10年期公債殖利率推至5月以來的最高水準。

Liquidations occur when an exchange closes a leveraged position due to unmet margin requirements. Mass liquidations can create a cycle of falling prices leading to further liquidations.

當交易所因未滿足保證金要求而關閉槓桿部位時，就會發生清算。大規模清算可能會造成價格下跌的循環，導致進一步清算。

Market observers view the drop as a temporary setback in the long term. "Markets were hit hard after strong U.S. job data dulled hopes for rate cuts this year," said Vince Yang, CEO of zkLink. "It's a sentiment shift we've seen before."

市場觀察家認為，從長遠來看，這次下跌只是暫時的挫折。 zkLink 執行長 Vince Yang 表示：“強勁的美國就業數據削弱了今年降息的希望，市場受到重創。” “這是我們以前見過的情緒轉變。”

"We remain optimistic. Dips often precede bullish movements," Yang added, citing the current market cycle and the incoming crypto-friendly U.S. administration.

「我們仍然樂觀。下跌往往先於看漲走勢，」楊補充道，他引用了當前的市場週期和即將上任的對加密貨幣友好的美國政府。

QCP Capital expresses caution, expecting continued volatility in January due to structural risks. The U.S. Treasury debt ceiling reinstatement could lead to market volatility as discussions intensify, the company notes.

QCP Capital 表示謹慎，預計由於結構性風險，1 月將繼續波動。該公司指出，隨著討論的加劇，美國財政部債務上限的恢復可能會導致市場波動。