Crypto Market Plunges Amid Trade War Fears

加密貨幣市場在貿易戰爭的恐懼中暴跌

Major cryptocurrencies have witnessed a significant decline of over 25% within the past 24 hours, prompted by a fresh wave of tariffs imposed by the U.S. on Canada and Mexico. This development has raised concerns about a global trade war, negatively affecting investor confidence in risk assets.

在過去的24小時內，主要的加密貨幣在過去的24小時內看到了超過25％的大幅下降，這是由於美國對加拿大和墨西哥徵收的新稅率。這一發展引起了人們對全球貿易戰的擔憂，對投資者對風險資產的信心產生了負面影響。

XRP, Dogecoin (DOGE), and Cardano's ADA have plummeted by more than 25%, retracing all gains made since December and returning to pre-U.S. election levels from early November. Data indicates that most major cryptocurrencies have experienced a decline of 40-50% over the past month, marking one of the steepest drops in recent years. The overall market capitalization has decreased by 12%, the most significant decline observed in over a year. The broad-based CoinDesk 20 (CD20) has also lost 10%, while Bitcoin (BTC) has fallen by 6%.

XRP，Dogecoin（Doge）和Cardano的ADA暴跌了25％以上，追溯了自12月以來所取得的收益，並返回前U.S。選舉水平從11月初開始。數據表明，大多數主要的加密貨幣在過去一個月中的下降40-50％，這是近年來最急劇下降之一。總體市值下降了12％，這是一年多以來觀察到的最重大下降。基於廣泛的Coindesk 20（CD20）也損失了10％，而比特幣（BTC）下跌了6％。

The losses have been reflected in futures markets, with traders of Ether (ETH)-based products losing over $600 million in the past 24 hours, primarily during the early Asian trading session. XRP and DOGE trades have lost a combined $150 million, altcoin-based products have lost $138 million, and Ether-based futures have lost $84 million.

損失反映在期貨市場中，基於以太（ETH）的產品的交易商在過去24小時內損失了超過6億美元，主要是在亞洲早期的交易會期間。 XRP和Doge交易損失了總計1.5億美元，基於Altcoin的產品損失了1.38億美元，基於以太的期貨損失了8400萬美元。

Total liquidations have exceeded $2.2 billion, marking the highest level this year and among the highest in the past year. The largest single liquidation occurred on Binance, involving a Tether-margined ETH trade valued at $25 million.

總清算超過22億美元，這是今年最高水平，是過去一年中最高水平。最大的單一清算發生在二元時，涉及一個價值2500萬美元的束縛的ETH貿易。

Analysts have warned of potential further losses as the week progresses. Augustine Fan, Head of Insights at SignalPlus, remarked that while BTC has declined by 8% over the weekend, Ethereum has experienced a "straight 20% decline" and is "behaving like an altcoin on the downside."

隨著一周的進行，分析師警告說，潛在的進一步損失。 SignalPlus的見解負責人奧古斯丁（Augustine Fan）指出，儘管週末BTC下降了8％，但以太坊經歷了“直截了當的下降20％”，並且“表現就像是替代幣”。

"Markets are likely to be in a full risk-off mode as we await the US equity market open," Fan added.

範補充說：“當我們等待美國股票市場開放時，市場可能處於完全的風險模式。”

Liquidation occurs when a trader lacks sufficient funds to maintain a leveraged trade. Given the high volatility of the crypto market, liquidations are common, though significant events like Monday's can offer valuable insights into market sentiment and potential positioning.

當交易者缺乏足夠的資金來維持槓桿貿易時，就會清算。鑑於加密市場的高波動性，清算很常見，儘管諸如星期一的重要事件可以為市場情緒和潛在位置提供寶貴的見解。

The market correction is attributed to the trade war initiated by President Donald Trump, with 25% tariffs imposed on Canada and Mexico. This move has disrupted North American trade relations, leading to threats of retaliatory tariffs from both countries.

市場更正歸因於唐納德·特朗普總統發起的貿易戰，對加拿大和墨西哥徵收了25％的關稅。這一舉動破壞了北美的貿易關係，導致兩國的報復性關稅威脅。

Financial markets are apprehensive about the potential for increased costs on goods, affecting industries ranging from automotive to agriculture. The interconnected economies of these nations suggest that tariffs could lead to a broader economic slowdown, impacting employment and raising consumer costs.

金融市場對商品成本增加的潛力感到擔憂，從而影響從汽車到農業的行業。這些國家的相互聯繫的經濟體表明，關稅可能導致更廣泛的經濟放緩，影響就業和提高消費者成本。