Leading Cryptocurrencies Drop Amidst Anticipation of Fed Chair Speech

在美联储主席讲话的预期中，主要加密货币下跌

On Monday, prominent cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) experienced price declines as investors eagerly awaited the address from Federal Reserve Chair Jerome Powell regarding possible interest rate adjustments.

周一，由于投资者热切等待美联储主席杰罗姆·鲍威尔就可能的利率调整发表讲话，主要加密货币比特币（BTC）、以太坊（ETH）和狗狗币（DOGE）价格下跌。

Bitcoin

比特币

Bitcoin, the cryptocurrency with the highest market capitalization, has maintained strong momentum, while Ethereum has faced volatility. Dogecoin, despite its devoted community, has faced challenges in sustaining its value.

市值最高的加密货币比特币保持强劲势头，而以太坊则面临波动。尽管狗狗币拥有忠实的社区，但在维持其价值方面仍面临挑战。

Bitcoin briefly surpassed $66,000 before dipping to $64,247 overnight. Despite this fluctuation, Bitcoin surged by 8.90% in September, a significant gain compared to its historical average loss of 3.47%. This rally was fueled by the Fed's 0.5% interest rate cut earlier in the month.

比特币一度突破 66,000 美元，然后隔夜跌至 64,247 美元。尽管存在这种波动，比特币在 9 月份还是飙升了 8.90%，与历史平均跌幅 3.47% 相比，涨幅显着。美联储本月早些时候降息 0.5% 推动了这一反弹。

Source: Bitcoin Price Chart | CoinMarketCap

资料来源：比特币价格图表 |硬币市值

Ethereum

以太坊

Ethereum, currently trading around $2,600, also underwent fluctuations. Concerns arose among traders as large investors executed transactions involving $45 million worth of ETH. As of now, Ethereum's price is $2,620, a 1.88% decline in the past 24 hours.

以太坊目前的交易价格在 2600 美元左右，也出现了波动。随着大型投资者执行涉及价值 4500 万美元 ETH 的交易，交易员们开始担忧。截至目前，以太坊价格为2620美元，过去24小时下跌1.88%。

Dogecoin

狗狗币

According to CoinMarketCap, Dogecoin experienced a marked drop, plummeting by 6.37% to $0.1211 within the past 24 hours. This downward movement is attributed to bearish sentiment and increased short selling. Nevertheless, Dogecoin remains popular due to its loyal following.

根据 CoinMarketCap 的数据，狗狗币经历了明显的下跌，在过去 24 小时内暴跌 6.37% 至 0.1211 美元。这种下行趋势归因于看跌情绪和卖空增加。尽管如此，狗狗币由于其忠实的追随者仍然很受欢迎。

Market Analysis

市场分析

The total market capitalization for cryptocurrencies is currently at $2.29 trillion, down by 0.77% over the past day. Investors are closely observing Powell's speech for indications regarding interest rate cuts, which may impact the market's trajectory.

目前加密货币总市值为2.29万亿美元，较过去一天下跌0.77%。投资者正在密切关注鲍威尔的讲话，寻找有关降息的迹象，这可能会影响市场的走势。

The recent decline in Bitcoin, Ethereum, and Dogecoin reflects cautious investor sentiment ahead of crucial economic updates. Market players are keen to witness the potential impact of interest rate cuts on cryptocurrency prices in the future.

比特币、以太坊和狗狗币最近的下跌反映了在关键经济更新之前投资者的谨慎情绪。市场参与者热衷于见证未来降息对加密货币价格的潜在影响。