比特幣達到了11月以來的最低點，將其每週最大的一年降落在兩年中

比特幣在11月以來的最低點，並將其每週最大的一年降落在兩年中，席捲了科技股的拋售

Bitcoin fell to its lowest since November and was set for its biggest weekly fall in over two years on Friday, swept up in a broader sell-off in tech stocks at a time when a $1.5 billion hack and doubts about U.S. crypto policy has left industry sentiment fragile.

比特幣在11月以來的最低水平下降到了周五兩年多的每週最大的一次，在15億美元的黑客攻擊並懷疑美國加密貨幣政策時，技術股票的拋售更加廣泛。

The world’s largest cryptocurrency dropped as much as 7% to $78,273, its lowest since November 10 and on track for a fifth straight day of declines.

全球最大的加密貨幣下降了7％至78,273美元，這是自11月10日以來最低的，並且連續第五天下降。

It has fallen 16% in the past week, its biggest weekly drop since the collapse of the FTX crypto exchange in November 2022. The broader crypto market has lost nearly half a trillion dollars in the past week alone, according to Coingecko.

在過去的一周中，它已經下降了16％，自2022年11月FTX加密交易所倒閉以來，每週下降最大。據Coingecko稱，僅在過去一周中，更廣泛的加密貨幣市場就損失了近半萬億美元。

"Inflationary pressures, growth prospects are crumbling and Trump's tariffs are not going away. And with Trump's attention (on) anything except deregulating crypto, bitcoin traders are not happy," said Matt Simpson, senior market analyst at City Index.

城市指數高級市場分析師馬特·辛普森（Matt Simpson）表示：“通貨膨脹壓力，增長前景正在崩潰，特朗普的關稅並沒有消失。而且，除了放棄加密貨幣外，比特幣交易員不滿意，但比特幣交易員不高興。”

Bitcoin typically trades loosely in line with assets like tech stocks that rise when investors are optimistic about economic growth. The tech heavy Nasdaq (.IXIC), is at its lowest since November.

比特幣通常會與當投資者對經濟增長樂觀時上升的資產等資產寬鬆地進行交易。自11月以來，技術重型納斯達克（.ixic）處於最低水平。

Investors fear the so-called exceptionalism of the U.S. economy might be fading and are nervous about U.S. President Donald Trump's moves to impose tariffs which have stoked fears of higher global inflation and slower growth.

投資者擔心，所謂的美國經濟的例外主義可能會逐漸消失，並對美國總統唐納德·特朗普（Donald Trump）施加關稅的舉動感到不安，這使人們擔心全球通貨膨脹率更高和增長速度較慢。

Investors judged AI darling Nvidia's results harshly as well.

投資者也判斷了AI Darling Nvidia的成績。

NEW ENVIRONMENT

新環境

For the world's largest cryptocurrency, the environment is very different from mid-January, when it approached $110,000 on optimism that the Trump administration would champion a strategic bitcoin fund and loosen regulation.

對於世界上最大的加密貨幣，環境與1月中旬的環境大不相同，當時特朗普政府將倡導戰略性比特幣基金並放棄監管的$ 110,000。

But beyond a flurry of appointments of crypto-friendly officials when Trump took office, there has been little concrete news around that policy for investors.

但是，除了特朗普上任時，一系列對加密友好型官員的任命之外，對於投資者來說，這項政策幾乎沒有任何具體新聞。

The bitcoin price decline "shows that positive sentiments from a crypto-friendly administration and high-profile endorsements have run their course," said Joshua Chu, Co-Chair of the Hong Kong Web3 Association.

比特幣的價格下跌表明，對加密貨幣友好的政府和備受矚目的代言人的積極情緒已經開展了他們的課程。”

"It’s clear bitcoin is a risk asset, not the inflation hedge or digital gold it’s often touted to be."

“顯然，比特幣是一種風險資產，而不是通貨膨脹對沖或數字黃金，通常是吹捧的。”

Ether, the second-largest cryptocurrency by market value, was down 6% at $2,149.38, around its lowest since January 2024.

按市場價值計算的第二大加密貨幣Ether下跌了6％，至2,149.38美元，其最低限量為2024年1月。

Trump's own "TRUMP" memecoin that he launched upon his inauguration has lost 50% in value since then, while his wife's "MELANIA" token has lost 90%.

從那以後，他在就職典禮上發起的特朗普自己的“特朗普”紀念物損失了50％，而妻子的“梅拉尼亞”代幣損失了90％。

Investors have also been pulling money out of bitcoin exchange-traded funds.

投資者還一直從比特幣交易所交易的資金中掏出資金。

U.S.-listed bitcoin ETFs have seen outflows of $2.27 billion so far this week.

本周到目前為止，美國上市的比特幣ETF的流出量為22.7億美元。

Bank of America analysts said in a note on Friday the fact that the average daily price of bitcoin had struggled to break above $97,000 since November was the first sign of the "bro bubble popping".

美國銀行分析師在周五的一份事實中說，自11月以來，比特幣的平均每日價格一直在掙扎97,000美元以上，這是“ Bro Bubble Popping”的第一個跡象。

Much of the hype around crypto in the last couple of years has stemmed from, typically, younger male influencers on social media and tech entrepreneurs that many nickname "crypto bros".

在過去的幾年中，圍繞加密貨幣的大部分炒作源於社交媒體和科技企業家的年輕男性影響者，這些綽號“加密兄弟”。

The crypto world has been nervous after Dubai-headquartered Bybit, the world's second-largest exchange after Binance, said last week hackers had stolen ether worth around $1.5 billion in what is thought to be the single largest crypto heist of all time.

上週，黑客偷走了埃瑟（Ether）的埃瑟（Ether），這是有史以來最大的加密搶劫案，這是迪拜世界第二大交易所託比特（Bybit）的迪拜世界一直很緊張。

"It's a combination of macro forces. More tariffs, uncertainties around geopolitics and war, and the ByBit hack didn't help confidence either," said Reuben Conceicao, chief strategy officer at digital wallet firm Metasig.

數字錢包公司Metasig的首席戰略官Reuben Conceicao說：“這是宏觀力量的結合。更多的關稅，圍繞地緣政治和戰爭的不確定性以及Bybit Hack也沒有幫助信心。”

The price fall hurt crypto-connected stocks in U.S. premarket trading.

價格下跌傷害了美國上市前交易中與加密貨幣相關的股票。

Crypto exchange Coinbase Global (COIN.O), and bitcoin buyer Strategy (MSTR.O), dropped 2.3%, while both miners Riot Platforms Inc (RIOT.O), and MARA Holdings (MARA.O), shed about 3.5%.

加密交易所Coinbase Global（Coin.O）和比特幣買家戰略（MSTR.O）下跌了2.3％，而兩個礦工Riot Platforms Inc（Riot.O）和Mara Holdings（Mara.o）均降低了約3.5％。