The Cryptocurrency Market Experiences Turmoil

加密貨幣市場經歷動盪

Over the past week, the cryptocurrency market faced significant challenges, marked by substantial losses for major coins such as XRP and DOGE. While Bitcoin (BTC) exhibited temporary stabilization over the weekend, the overall market sentiment remains bearish.

過去一周，加密貨幣市場面臨重大挑戰，XRP 和 DOGE 等主要加密貨幣大幅虧損。儘管比特幣（BTC）在周末表現出暫時穩定，但整體市場情緒仍然看跌。

Bitcoin Fluctuates at $62,000

比特幣波動在 62,000 美元

Bitcoin, which began the week at $66,000, encountered a sharp decline, falling to $63,000 by Monday. Geopolitical tensions in the Middle East exacerbated the downward trend, pushing BTC below $60,000 on several occasions between Wednesday and Thursday. However, the value recovered slightly, ending the week at approximately $62,000.

比特幣本周初價格為 66,000 美元，但隨後大幅下跌，到週一跌至 63,000 美元。中東地緣政治緊張局勢加劇了下跌趨勢，週三至週四期間，比特幣多次跌破 6 萬美元。然而，價格略有回升，本週收在約 62,000 美元。

XRP and DOGE Suffer Major Losses

XRP 和 DOGE 遭受重大損失

XRP was severely impacted by the news that the U.S. SEC would appeal a 2023 court decision regarding its secondary market sales. Within 24 hours, XRP plummeted by 15%, dropping from $0.60 to $0.51. While it recovered slightly to $0.53 by the weekend, it remained down double digits on the weekly chart.

美國 SEC 將對 2023 年法院關於其二級市場銷售的裁決提出上訴，這一消息對 XRP 造成了嚴重影響。 24 小時內，XRP 暴跌 15%，從 0.60 美元跌至 0.51 美元。雖然到週末小幅回升至 0.53 美元，但在周線圖上仍下跌兩位數。

Dogecoin (DOGE) also faced substantial losses, falling 13.7% during the week. Other altcoins, including Cardano (ADA), Shiba Inu (SHIB), Polkadot (DOT), and Near Protocol (NEAR), experienced similar declines, with drops ranging from 11% to 12%.

狗狗幣（DOGE）也面臨大幅虧損，本週下跌 13.7%。其他山寨幣，包括卡爾達諾 (ADA)、柴犬 (SHIB)、波卡 (DOT) 和近協議 (NEAR) 也經歷了類似的下跌，跌幅在 11% 到 12% 之間。

Market Value Loss and Liquidations

市場價值損失和清算

The total market capitalization of cryptocurrencies declined by $150 billion last week, though some losses were recovered over the weekend. The market cap now stands at $2.25 trillion. Data from Coinglass indicates that over $59.85 million worth of positions were liquidated in the past 24 hours alone, highlighting the ongoing volatility and uncertainty affecting traders.

上週加密貨幣總市值下降了 1500 億美元，不過週末收復了部分損失。目前市值為 2.25 兆美元。 Coinglass 的數據顯示，僅在過去 24 小時內就有價值超過 5,985 萬美元的頭寸被清算，凸顯了影響交易者的持續波動和不確定性。

Geopolitical Impact

地緣政治影響

The significant drops in XRP, DOGE, and other altcoins have been attributed to escalating tensions in the Middle East, which have created broader concerns across global financial markets. Cryptocurrencies, being sensitive to macroeconomic and geopolitical events, have once again demonstrated their vulnerability during times of uncertainty.

XRP、DOGE 和其他山寨幣的大幅下跌歸因於中東緊張局勢升級，這在全球金融市場引發了更廣泛的擔憂。加密貨幣對宏觀經濟和地緣政治事件敏感，在不確定時期再次顯示其脆弱性。

As the geopolitical landscape continues to evolve, investors will be closely monitoring its potential impact on the volatile cryptocurrency market.

隨著地緣政治格局的不斷發展，投資者將密切關注其對波動的加密貨幣市場的潛在影響。