Crypto Market Selloff: Reasons Behind the Plunge

Today, the cryptocurrency market has experienced a steep decline, with significant cryptos such as Bitcoin, ETH, BNB, SOL, XRP, and DOGE retreating. This sudden shift in sentiment from earlier in the week has sparked discussions within the market about potential reasons for the selloff.

加密货币市场抛售：暴跌背后的原因如今，加密货币市场经历了大幅下跌，比特币、ETH、BNB、SOL、XRP 和 DOGE 等重要加密货币纷纷回落。本周早些时候情绪的突然转变引发了市场内部关于抛售潜在原因的讨论。

Causes of the Selloff

Despite the positive momentum witnessed throughout the week, the sentiment shifted on Friday, triggering a massive selloff. This occurred following the release of U.S. job data by the Labor Department on June 7th.

抛售的原因尽管本周出现了积极的势头，但周五市场情绪发生了转变，引发了大规模抛售。这是在劳工部 6 月 7 日发布美国就业数据之后发生的。

The data showed a stronger-than-expected increase in employment, with 272,000 jobs added in May. While the unemployment rate also increased, the robust non-farm payroll data weighed on investors' confidence. This dimmed hopes for a potential interest rate cut by the U.S. Federal Reserve, sparking concerns in the financial sector and the crypto market.

数据显示就业增长强于预期，5 月份新增就业岗位 27.2 万个。尽管失业率也有所上升，但强劲的非农就业数据打压了投资者的信心。这降低了美联储可能降息的希望，引发了金融领域和加密货币市场的担忧。

Additionally, GameStop (GME) announced its decision to sell $175 million in shares, leading to concerns in the broader market. GME stock closed down nearly 40% on Friday, June 7th. Subsequently, leading meme coins such as GME, DOGE, and SHIB have also declined.

此外，GameStop (GME) 宣布决定出售 1.75 亿美元的股票，引发了更广泛市场的担忧。 6 月 7 日星期五，GME 股票收盘下跌近 40%。随后，GME、DOGE、SHIB等主流模因币也纷纷下跌。

Market Fallout

The volatility has resulted in significant liquidations. According to CoinGlass data, approximately 147,330 traders were liquidated in the past 24 hours, with estimated losses of $411.25 million. The largest single liquidation occurred on OKX, involving an ETH-USD-SWAP worth $5.20 million.

市场影响波动导致大量清算。根据 CoinGlass 数据，过去 24 小时内约有 147,330 名交易者被清算，预计损失达 4.1125 亿美元。最大单笔清算发生在 OKX，涉及价值 520 万美元的 ETH-USD-SWAP。

Meanwhile, the global crypto market cap has decreased 3.47% to $2.55 trillion due to rate-cut concerns. Bitcoin price has fallen 2.81% to $69,275.03, while Ethereum has dropped 3.6% to $3,681.7. Solana has plunged 6% to $162.11, and XRP has lost 5% to $0.4998.

与此同时，由于降息担忧，全球加密货币市值下降 3.47% 至 2.55 万亿美元。比特币价格下跌 2.81% 至 69,275.03 美元，以太坊价格下跌 3.6% 至 3,681.7 美元。 Solana 暴跌 6% 至 162.11 美元，XRP 下跌 5% 至 0.4998 美元。

Outlook

Despite the recent decline, some investors remain optimistic about a potential rebound. Notably, U.S. Spot Bitcoin ETFs have experienced a significant influx, indicating institutional interest in the leading cryptocurrency.

展望尽管最近出现下跌，但一些投资者仍对潜在反弹持乐观态度。值得注意的是，美国现货比特币 ETF 经历了大量涌入，表明机构对领先的加密货币感兴趣。