Key Factors Contributing to the Recent Crypto Market Decline

导致近期加密货币市场下跌的关键因素

Since January 22, 2025, the cryptocurrency market has witnessed a significant decline:

自2025年1月22日以来，加密货币市场出现大幅下跌：

• Total market cap: -3.64%
• Altcoin market cap: -2.72%
• Market cap excluding top 10 cryptos: -5.2%

In the last 24 hours, major cryptocurrencies have also experienced losses:

总市值：-3.64% 山寨币市值：-2.72% 不包括前 10 名加密货币的市值：-5.2% 在过​​去 24 小时内，主要加密货币也经历了损失：

• Bitcoin (BTC): -3%
• Ethereum (ETH): -3%
• Ripple (XRP): -2%
• Solana (SOL): -2.5%
• Binance Coin (BNB): -1.9%
• Dogecoin (DOGE): -3.5%
• Cardano (ADA): -3.5%

Reasons for the Downturn:

比特币（BTC）：-3%以太坊（ETH）：-3%瑞波币（XRP）：-2%Solana（SOL）：-2.5%币安币（BNB）：-1.9%狗狗币（DOGE）：-3.5rdano (ADA)：-3.5% 下滑的原因：

• Disappointment from Trump's Speech:

  对特朗普讲话的失望：

  • Investors anticipated a mention of a Bitcoin reserve plan during Trump's inaugural address, but it was omitted. This disappointment has contributed to the decline.

• Bank of Japan Rate Hike Speculation:

  投资者预计特朗普在就职演说中会提到比特币储备计划，但被省略了。这种失望情绪导致了下跌。 日本央行加息猜测：

  • Rumors suggest a potential interest rate increase of 25 basis points to 0.5% tomorrow, which could impact the crypto market.

• US Federal Reserve Meeting:

  有传言称明天可能加息 25 个基点至 0.5%，这可能会影响加密货币市场。 美联储会议：

  • The Federal Reserve is expected to maintain interest rates at the upcoming January 29 meeting.
  • Despite previous indications of rate cuts, current economic conditions suggest this is unlikely.

• Rising US Dollar Index and Treasury Yields:

  预计美联储将在即将召开的 1 月 29 日会议上维持利率不变。尽管之前有降息迹象，但目前的经济状况表明这种可能性不大。美元指数和国债收益率上涨：

  • The US dollar index has climbed by approximately 4.16% since November, while 10-year Treasury bond yields have reached their highest levels since April 2024.
  • These developments typically lead to a decrease in crypto prices.

• BTC and ETH Options Expiry:

  自 11 月以来，美元指数已上涨约 4.16%，而 10 年期国债收益率已达到 2024 年 4 月以来的最高水平。这些事态发展通常会导致加密货币价格下跌。BTC 和 ETH 期权到期：

  • A significant number of BTC and ETH options are set to expire soon, potentially contributing to increased volatility and price fluctuations.

Conclusion:

大量 BTC 和 ETH 期权即将到期，可能会导致波动性和价格波动加剧。结论：

The cryptocurrency market's recent selloff reflects a combination of macroeconomic factors, political developments, and technical influences. Investors should monitor regulatory updates, rate changes, and market trends to make informed decisions while navigating global uncertainties and the market's ongoing recovery.

加密货币市场最近的抛售反映了宏观经济因素、政治发展和技术影响的综合作用。投资者应监控监管更新、利率变化和市场趋势，以便在应对全球不确定性和市场持续复苏的同时做出明智的决策。