Global Crypto Market Faces Correction Ahead of US Economic Data Release

美国经济数据发布前全球加密货币市场面临调整

The digital asset market witnessed a widespread decline, with all eyes on the US Federal Reserve's upcoming announcements. The cumulative crypto market capitalization fell by over 3%, reaching $2.03 trillion, while 24-hour trading volume surged by 42%.

数字资产市场普遍下跌，所有人都在关注美联储即将发布的公告。加密货币累计市值下跌超过3%，达到2.03万亿美元，而24小时交易量激增42%。

Major Cryptocurrencies See Declines

主要加密货币下跌

Bitcoin (BTC) tumbled by 3% to trade below $59,000, reversing its recent recovery. Ether (ETH), the second-largest cryptocurrency, lost 6%, extending its downward trend. Dogecoin (DOGE) and Shiba Inu (SHIB) also dropped by approximately 4% each.

比特币 (BTC) 暴跌 3%，跌破 59,000 美元，扭转了近期的复苏势头。第二大加密货币以太币（ETH）下跌 6%，延续下跌趋势。狗狗币 (DOGE) 和柴犬 (SHIB) 也分别下跌约 4%。

Fed Week Nears

美联储周临近

Markets anxiously anticipate a crucial economic week that will feature the release of August retail sales data on September 17th. On September 18th, the Fed will announce its interest rate decision and hold a press conference.

市场焦急地期待着至关重要的经济周，届时将在 9 月 17 日发布 8 月份零售销售数据。 9月18日，美联储将宣布利率决定并召开新闻发布会。

The Philadelphia Fed Manufacturing Index and August existing home sales data are also expected later in the week.

费城联储制造业指数和 8 月份成屋销售数据也预计将于本周晚些时候公布。

Uncertainty Surrounding Fed Rate Cut

美联储降息的不确定性

Investors are divided on the size of the Fed's anticipated rate cut, with some expecting 25 basis points and others advocating for 50 basis points. Despite a recent decline in inflation, core inflation remains higher than expected.

投资者对美联储预期降息幅度存在分歧，一些人预计降息25个基点，另一些人则主张降息50个基点。尽管近期通胀有所下降，但核心通胀仍高于预期。

Fed Officials Cautious

美联储官员态度谨慎

Fed officials generally favor a cautious approach with a 25 basis point cut to mitigate inflationary pressures. However, recent labor market weakness may suggest the Fed is lagging behind. Companies are pushing for a more aggressive 50 basis point reduction.

美联储官员普遍倾向于采取谨慎态度，降息25个基点以缓解通胀压力。然而，最近劳动力市场的疲软可能表明美联储已经落后了。各公司正在推动更积极的降息 50 个基点。

Crypto Market Reacts

加密货币市场反应

The upcoming Fed decision is expected to impact markets across the board, including crypto. BTC fell below $59K on Monday as it struggled to maintain the $60K level. Over the past 24 hours, BTC has declined by 3%, although it has gained 7% over the past week.

美联储即将做出的决定预计将影响整个市场，包括加密货币。 BTC 周一跌破 5.9 万美元，努力维持 6 万美元的水平。过去 24 小时内，BTC 下跌了 3%，尽管过去一周上涨了 7%。

Market Sentiment and Altcoin Losses

市场情绪和山寨币损失

The crypto market is currently experiencing negative sentiment, with Solana (SOL) and Cardano (ADA) among the altcoins to decline by over 4% in the last 24 hours.

加密货币市场目前正经历负面情绪，山寨币 Solana (SOL) 和 Cardano (ADA) 在过去 24 小时内下跌超过 4%。