Crypto Market Plunges Amid Trade War Fears

加密货币市场在贸易战争的恐惧中暴跌

Major cryptocurrencies have witnessed a significant decline of over 25% within the past 24 hours, prompted by a fresh wave of tariffs imposed by the U.S. on Canada and Mexico. This development has raised concerns about a global trade war, negatively affecting investor confidence in risk assets.

在过去的24小时内，主要的加密货币在过去的24小时内看到了超过25％的大幅下降，这是由于美国对加拿大和墨西哥征收的新税率。这一发展引起了人们对全球贸易战的担忧，对投资者对风险资产的信心产生了负面影响。

XRP, Dogecoin (DOGE), and Cardano's ADA have plummeted by more than 25%, retracing all gains made since December and returning to pre-U.S. election levels from early November. Data indicates that most major cryptocurrencies have experienced a decline of 40-50% over the past month, marking one of the steepest drops in recent years. The overall market capitalization has decreased by 12%, the most significant decline observed in over a year. The broad-based CoinDesk 20 (CD20) has also lost 10%, while Bitcoin (BTC) has fallen by 6%.

XRP，Dogecoin（Doge）和Cardano的ADA暴跌了25％以上，追溯了自12月以来所取得的收益，并返回前U.S。选举水平从11月初开始。数据表明，大多数主要的加密货币在过去一个月中的下降40-50％，这是近年来最急剧下降之一。总体市值下降了12％，这是一年多以来观察到的最重大下降。基于广泛的Coindesk 20（CD20）也损失了10％，而比特币（BTC）下跌了6％。

The losses have been reflected in futures markets, with traders of Ether (ETH)-based products losing over $600 million in the past 24 hours, primarily during the early Asian trading session. XRP and DOGE trades have lost a combined $150 million, altcoin-based products have lost $138 million, and Ether-based futures have lost $84 million.

损失反映在期货市场中，基于以太（ETH）的产品的交易商在过去24小时内损失了超过6亿美元，主要是在亚洲早期的交易会期间。 XRP和Doge交易损失了总计1.5亿美元，基于Altcoin的产品损失了1.38亿美元，基于以太的期货损失了8400万美元。

Total liquidations have exceeded $2.2 billion, marking the highest level this year and among the highest in the past year. The largest single liquidation occurred on Binance, involving a Tether-margined ETH trade valued at $25 million.

总清算超过22亿美元，这是今年最高水平，是过去一年中最高水平。最大的单一清算发生在二元时，涉及一个价值2500万美元的束缚的ETH贸易。

Analysts have warned of potential further losses as the week progresses. Augustine Fan, Head of Insights at SignalPlus, remarked that while BTC has declined by 8% over the weekend, Ethereum has experienced a "straight 20% decline" and is "behaving like an altcoin on the downside."

随着一周的进行，分析师警告说，潜在的进一步损失。 SignalPlus的见解负责人奥古斯丁（Augustine Fan）指出，尽管周末BTC下降了8％，但以太坊经历了“直截了当的下降20％”，并且“表现就像是替代币”。

"Markets are likely to be in a full risk-off mode as we await the US equity market open," Fan added.

范补充说：“当我们等待美国股票市场开放时，市场可能处于完全的风险模式。”

Liquidation occurs when a trader lacks sufficient funds to maintain a leveraged trade. Given the high volatility of the crypto market, liquidations are common, though significant events like Monday's can offer valuable insights into market sentiment and potential positioning.

当交易者缺乏足够的资金来维持杠杆贸易时，就会清算。鉴于加密市场的高波动性，清算很常见，尽管诸如星期一的重要事件可以为市场情绪和潜在位置提供宝贵的见解。

The market correction is attributed to the trade war initiated by President Donald Trump, with 25% tariffs imposed on Canada and Mexico. This move has disrupted North American trade relations, leading to threats of retaliatory tariffs from both countries.

市场更正归因于唐纳德·特朗普总统发起的贸易战，对加拿大和墨西哥征收了25％的关税。这一举动破坏了北美的贸易关系，导致两国的报复性关税威胁。

Financial markets are apprehensive about the potential for increased costs on goods, affecting industries ranging from automotive to agriculture. The interconnected economies of these nations suggest that tariffs could lead to a broader economic slowdown, impacting employment and raising consumer costs.

金融市场对商品成本增加的潜力感到担忧，从而影响从汽车到农业的行业。这些国家的相互联系的经济体表明，关税可能导致更广泛的经济放缓，影响就业和提高消费者成本。