Dogecoin and Major Cryptocurrencies Suffer Losses

狗狗币和主要加密货币遭受损失

Dogecoin (DOGE) faced significant losses, contributing to a decline across major cryptocurrencies. Bitcoin (BTC) retreated to approximately $93,000 due to new economic data that caused U.S. Treasury yields to rise sharply.

狗狗币（DOGE）面临重大损失，导致主要加密货币下跌。由于新的经济数据导致美国国债收益率大幅上涨，比特币（BTC）回落至约 93,000 美元。

DOGE plummeted by 14%, while other prominent cryptocurrencies such as Solana (SOL), Cardano (ADA), BNB Chain (BNB), and Ethereum (ETH) also experienced declines of at least 7%. Bitcoin itself dipped by 5.5%.

DOGE 暴跌 14%，而其他知名加密货币，如 Solana (SOL)、Cardano (ADA)、BNB Chain (BNB) 和以太坊 (ETH) 也经历了至少 7% 的下跌。比特币本身下跌了 5.5%。

The downturn in the crypto market mirrored losses in U.S. stocks. A report from the Institute for Supply Management (ISM) indicated stronger-than-anticipated performance in U.S. service providers, with the price-paid measure reaching its highest point since early 2023. Additionally, U.S. job openings surpassed forecasts, resulting in a decline in Treasury securities and driving the 10-year Treasury yield to its peak since May.

加密货币市场的低迷反映了美国股市的下跌。美国供应管理协会 (ISM) 的一份报告显示，美国服务提供商的表现强于预期，价格支付指标达到 2023 年初以来的最高点。此外，美国的职位空缺超出预期，导致美国服务提供商的就业机会下降国债并推动10年期国债收益率升至5月以来的高位。

Liquidations in crypto markets reached $560 million, signifying a substantial level at the year's start. Liquidation occurs when exchanges terminate traders' leveraged positions due to unfulfilled margin requirements, igniting a cycle of falling prices and further liquidations.

加密货币市场的清算额达到 5.6 亿美元，这标志着年初的一个相当大的水平。当交易所因未满足保证金要求而终止交易者的杠杆头寸时，就会发生清算，从而引发价格下跌和进一步清算的循环。

Market analysts interpret this recent dip as a temporary setback. Vince Yang, CEO of zkLink, remarked that robust job figures have tempered expectations of interest rate cuts, but he maintains optimism about future market movements. He suggests that such fluctuations could prompt larger bullish trends, particularly with a more crypto-friendly U.S. administration on the horizon.

市场分析师将最近的下跌解读为暂时的挫折。 zkLink首席执行官杨文斯表示，强劲的就业数据缓和了降息预期，但他对未来市场走势保持乐观。他认为，这种波动可能会引发更大的看涨趋势，特别是在美国政府即将推出对加密货币更加友好的情况下。

However, QCP Capital cautions against potential instability in the crypto markets as January approaches, expressing concerns about the U.S. Treasury debt ceiling and potential increases in market volatility.

然而，随着 1 月份的临近，QCP Capital 对加密货币市场潜在的不稳定发出警告，表达了对美国国债上限和市场波动性可能增加的担忧。