Dogecoin Slumps Amid Economic Data-Fueled Bitcoin Dip

经济数据推动比特币下跌，狗狗币暴跌

Dogecoin (DOGE) led declines among major cryptocurrencies as Bitcoin (BTC) dropped to near $96,000. Fresh economic data spurred a surge in U.S. treasury yields, driving a market sell-off.

随着比特币 (BTC) 跌至 96,000 美元附近，狗狗币 (DOGE) 在主要加密货币中领跌。新的经济数据刺激美国国债收益率飙升，推动市场抛售。

DOGE saw a 10% decline, with Solana's SOL, Cardano's ADA, BNB Chain's BNB, and Ethereum (ETH) also experiencing losses of at least 7%. Bitcoin fell 5.5%, while the CoinDesk 20 (CD20) index, tracking top tokens by market capitalization, declined by 7.1%.

DOGE 下跌了 10%，Solana 的 SOL、Cardano 的 ADA、BNB Chain 的 BNB 和以太坊（ETH）也经历了至少 7% 的损失。比特币下跌 5.5%，而追踪市值最高代币的 CoinDesk 20 (CD20) 指数下跌 7.1%。

Analysis reveals $560 million in liquidations of crypto-tracked futures betting on higher prices, setting a relatively high level for the year's start.

分析显示，押注价格上涨的加密货币追踪期货清算额为 5.6 亿美元，为年初设定了相对较高的水平。

Crypto losses mirrored declines in U.S. stocks. A stronger-than-expected report from the Institute for Supply Management (ISM) on U.S. service providers, with prices-paid reaching their highest since early 2023, ignited concerns.

加密货币的损失反映了美国股市的下跌。美国供应管理协会 (ISM) 发布的关于美国服务提供商的强于预期的报告引发了担忧，支付价格达到 2023 年初以来的最高水平。

Concurrently, U.S. job openings exceeded forecasts, leading to a decrease in Treasury securities across maturities and pushing the 10-year Treasury yield to its highest since May.

与此同时，美国职位空缺超出预期，导致各期限国债下跌，并将10年期国债收益率推至5月份以来的最高水平。

Liquidations occur when an exchange closes a leveraged position due to unmet margin requirements. Mass liquidations can create a cycle of falling prices leading to further liquidations.

当交易所因未满足保证金要求而关闭杠杆头寸时，就会发生清算。大规模清算可能会造成价格下跌的循环，导致进一步清算。

Market observers view the drop as a temporary setback in the long term. "Markets were hit hard after strong U.S. job data dulled hopes for rate cuts this year," said Vince Yang, CEO of zkLink. "It's a sentiment shift we've seen before."

市场观察人士认为，从长远来看，此次下跌只是暂时的挫折。 zkLink 首席执行官 Vince Yang 表示：“强劲的美国就业数据削弱了今年降息的希望，市场受到重创。” “这是我们以前见过的情绪转变。”

"We remain optimistic. Dips often precede bullish movements," Yang added, citing the current market cycle and the incoming crypto-friendly U.S. administration.

“我们仍然乐观。下跌往往先于看涨走势，”杨补充道，他引用了当前的市场周期和即将上任的对加密货币友好的美国政府。

QCP Capital expresses caution, expecting continued volatility in January due to structural risks. The U.S. Treasury debt ceiling reinstatement could lead to market volatility as discussions intensify, the company notes.

QCP Capital 表示谨慎，预计由于结构性风险，1 月份将继续波动。该公司指出，随着讨论的加剧，美国财政部债务上限的恢复可能会导致市场波动。