The Cryptocurrency Market Experiences Turmoil

加密货币市场经历动荡

Over the past week, the cryptocurrency market faced significant challenges, marked by substantial losses for major coins such as XRP and DOGE. While Bitcoin (BTC) exhibited temporary stabilization over the weekend, the overall market sentiment remains bearish.

过去一周，加密货币市场面临重大挑战，XRP 和 DOGE 等主要加密货币大幅亏损。尽管比特币（BTC）在周末表现出暂时稳定，但整体市场情绪仍然看跌。

Bitcoin Fluctuates at $62,000

比特币波动在 62,000 美元

Bitcoin, which began the week at $66,000, encountered a sharp decline, falling to $63,000 by Monday. Geopolitical tensions in the Middle East exacerbated the downward trend, pushing BTC below $60,000 on several occasions between Wednesday and Thursday. However, the value recovered slightly, ending the week at approximately $62,000.

比特币本周初价格为 66,000 美元，但随后大幅下跌，到周一跌至 63,000 美元。中东地缘政治紧张局势加剧了下跌趋势，周三至周四期间，比特币多次跌破 60,000 美元。然而，价格略有回升，本周收于约 62,000 美元。

XRP and DOGE Suffer Major Losses

XRP 和 DOGE 遭受重大损失

XRP was severely impacted by the news that the U.S. SEC would appeal a 2023 court decision regarding its secondary market sales. Within 24 hours, XRP plummeted by 15%, dropping from $0.60 to $0.51. While it recovered slightly to $0.53 by the weekend, it remained down double digits on the weekly chart.

美国 SEC 将对 2023 年法院关于其二级市场销售的裁决提出上诉，这一消息对 XRP 造成了严重影响。 24 小时内，XRP 暴跌 15%，从 0.60 美元跌至 0.51 美元。虽然到周末小幅回升至 0.53 美元，但在周线图上仍下跌两位数。

Dogecoin (DOGE) also faced substantial losses, falling 13.7% during the week. Other altcoins, including Cardano (ADA), Shiba Inu (SHIB), Polkadot (DOT), and Near Protocol (NEAR), experienced similar declines, with drops ranging from 11% to 12%.

狗狗币（DOGE）也面临大幅亏损，本周下跌 13.7%。其他山寨币，包括卡尔达诺 (ADA)、柴犬 (SHIB)、波卡 (DOT) 和近协议 (NEAR) 也经历了类似的下跌，跌幅在 11% 到 12% 之间。

Market Value Loss and Liquidations

市场价值损失和清算

The total market capitalization of cryptocurrencies declined by $150 billion last week, though some losses were recovered over the weekend. The market cap now stands at $2.25 trillion. Data from Coinglass indicates that over $59.85 million worth of positions were liquidated in the past 24 hours alone, highlighting the ongoing volatility and uncertainty affecting traders.

上周加密货币总市值下降了 1500 亿美元，不过周末收复了部分损失。目前市值为 2.25 万亿美元。 Coinglass 的数据显示，仅在过去 24 小时内就有价值超过 5985 万美元的头寸被清算，凸显了影响交易者的持续波动和不确定性。

Geopolitical Impact

地缘政治影响

The significant drops in XRP, DOGE, and other altcoins have been attributed to escalating tensions in the Middle East, which have created broader concerns across global financial markets. Cryptocurrencies, being sensitive to macroeconomic and geopolitical events, have once again demonstrated their vulnerability during times of uncertainty.

XRP、DOGE 和其他山寨币的大幅下跌归因于中东紧张局势升级，这在全球金融市场引发了更广泛的担忧。加密货币对宏观经济和地缘政治事件敏感，在不确定时期再次显示出其脆弱性。

As the geopolitical landscape continues to evolve, investors will be closely monitoring its potential impact on the volatile cryptocurrency market.

随着地缘政治格局的不断发展，投资者将密切关注其对波动的加密货币市场的潜在影响。