Market Forces Drive Bitcoin and Altcoin Declines

Over the past three days, Bitcoin (BTC) and other leading cryptocurrencies have experienced declines due to risk-aversion following the FOMC meeting. In the last 24 hours, Bitcoin has lost 4.2% of its value, while Dogecoin has suffered the most significant drop at 11%. Weekly losses for some altcoins have exceeded 20%, causing concern among market participants.

市場力量推動比特幣和山寨幣下跌過去三天，由於聯邦公開市場委員會(FOMC)會議後的避險情緒，比特幣(BTC)和其他主要加密貨幣經歷了下跌。在過去 24 小時內，比特幣價值下跌了 4.2%，而狗狗幣跌幅最大，達 11%。一些山寨幣的每週損失已經超過20%，引起市場參與者的擔憂。

Factors Behind Market Optimism and Sharp Sell-offs

The CoinDesk 20 index has reported a 5.5% decline. In the futures market, over $890 million was liquidated in the last 24 hours, demonstrating the negative effects of excessive market optimism.

市場樂觀和大幅拋售背後的因素CoinDesk 20 指數下跌 5.5%。在期貨市場，過去24小時內清算金額超過8.9億美元，顯示市場過度樂觀的負面影響。

According to QCP Capital, a Singapore-based firm, the recent sharp declines are attributed to overly bullish positioning. Their traders stated that "the primary reason for the morning's market collapse is the overly optimistic attitude of investors."

新加坡公司 QCP Capital 表示，最近的大幅下跌歸因於過度看漲的部位。他們的交易員表示，“上午市場暴跌的主要原因是投資者過於樂觀的態度。”

Seasonal Trends and Bitcoin's Potential

Historically, Bitcoin has tended to perform well in December, with six green closures and gains ranging from 8% to 46% over the past eight years. However, the current market conditions challenge optimistic forecasts for seasonal fluctuations.

季節性趨勢和比特幣的潛力 從歷史上看，比特幣在 12 月往往表現良好，有六次綠色關閉，過去八年漲幅在 8% 到 46% 之間。然而，當前的市場狀況對季節性波動的樂觀預測提出了挑戰。

Experts suggest that seasonal market trends may be affected by tax periods and holiday season demands. Nevertheless, the prevailing risk-averse behavior and reduced market liquidity are putting pressure on this trend.

專家表示，季節性市場趨勢可能會受到納稅期和假日季節需求的影響。然而，普遍的風險規避行為和市場流動性減少正在給這一趨勢帶來壓力。

Conclusion

In summary, the declines in Bitcoin and the cryptocurrency markets are caused by negative signals from the FOMC meeting and an atmosphere of excessive optimism. In this environment, market participants should exercise caution in the face of market fluctuations.

結論綜上所述，比特幣和加密貨幣市場的下跌是由FOMC會議發出的負面訊號和過度樂觀的氣氛所造成的。在此環境下，市場參與者面對市場波動應保持謹慎。