Dogecoin Leads Major Crypto Declines as Bitcoin Drops

随着比特币下跌，狗狗币引领加密货币大幅下跌

Dogecoin (DOGE) led the losses among major cryptocurrencies as Bitcoin (BTC) fell to approximately $96,000. The decline is attributed to rising U.S. Treasury yields driven by stronger-than-expected economic data.

随着比特币 (BTC) 跌至约 96,000 美元，狗狗币 (DOGE) 在主要加密货币中领跌。下跌的原因是强于预期的经济数据推动美国国债收益率上升。

Widespread Crypto Market Losses

加密货币市场普遍亏损

DOGE saw a steep 10% decline, while other major tokens such as Solana (SOL), Cardano (ADA), BNB Chain (BNB), and Ether (ETH) all suffered losses of at least 7%. Bitcoin itself fell by 5.5%, contributing to a 7.1% drop in the CoinDesk 20 (CD20) index.

DOGE 暴跌 10%，而其他主要代币如 Solana (SOL)、Cardano (ADA)、BNB Chain (BNB) 和 Ether (ETH) 均遭受至少 7% 的损失。比特币本身下跌了 5.5%，导致 CoinDesk 20 (CD20) 指数下跌 7.1%。

Futures Market Liquidations Reach $560 Million

期货市场清算额达到 5.6 亿美元

Futures markets experienced significant liquidations totaling $560 million, highlighting the risks of using margin in volatile markets. Liquidations occur when exchanges forcibly close leveraged positions.

期货市场经历了总计 5.6 亿美元的大规模清算，凸显了在波动市场中使用保证金的风险。当交易所强制平仓杠杆头寸时，就会发生清算。

Impact of U.S. Economic Data

美国经济数据的影响

The Institute for Supply Management (ISM) Services Index exceeded expectations, with its price payments measure reaching its highest level since early 2023. Additionally, U.S. job openings surpassed forecasts, intensifying concerns about Federal Reserve interest rate policies. These developments pushed the 10-year Treasury yield to its highest level since May, putting downward pressure on risk assets like cryptocurrencies.

美国供应管理协会（ISM）服务业指数超出预期，其价格支付指标达到2023年初以来的最高水平。此外，美国职位空缺超出预期，加剧了人们对美联储利率政策的担忧。这些事态发展将10年期国债收益率推升至5月份以来的最高水平，给加密货币等风险资产带来下行压力。

Expert Insights

专家见解

Vince Yang, CEO of zkLink, noted, "Markets took a hit yesterday, with Bitcoin and Ethereum dropping significantly. Stronger-than-expected U.S. job data reduced the likelihood of more rate cuts this year. This is not unusual for crypto."

zkLink首席执行官Vince Yang指出，“昨天市场受到打击，比特币和以太坊大幅下跌。强于预期的美国就业数据降低了今年进一步降息的可能性。这对于加密货币来说并不罕见。”

QCP Capital, a Singapore-based trading firm, added, "We expect a turbulent January for crypto markets. The reinstatement of the U.S. debt ceiling could trigger additional volatility."

总部位于新加坡的贸易公司 QCP Capital 补充道：“我们预计加密货币市场将在 1 月份出现动荡。美国债务上限的恢复可能会引发进一步的波动。”

Outlook for Recovery

复苏前景

Market observers suggest that while the Tuesday drop is notable, the long-term potential for a rebound remains strong. Investors are advised to monitor the impact of economic data on crypto assets closely.

市场观察人士表示，尽管周二的跌幅显着，但长期反弹的潜力仍然强劲。建议投资者密切关注经济数据对加密资产的影响。