由於監管不利，樂觀情緒減弱，比特幣跌至三個月低點

在降息預期逐漸減弱的情況下，比特幣價格暴跌至 2 月 27 日以來的最低點，週四交易價格為 57,405 美元。此次下跌標誌著比特幣連續第三天下跌，因為由於對利率上升和地緣政治因素的擔憂，比特幣的價值持續波動。

Bitcoin Price Plummets to Three-Month Low amid Waning Optimism and Regulatory Headwinds

由於樂觀情緒減弱和監管阻力，比特幣價格跌至三個月低點

The cryptocurrency market has been rocked by a significant sell-off, with Bitcoin (BTC) experiencing a steep decline in value over the past week. Yesterday, the leading digital asset plunged to its lowest level since February 27th, starting Thursday's trading session at $57,405. This marks the third consecutive day of losses for Bitcoin, fueled by fading expectations of future interest rate cuts by the Federal Reserve (Fed).

加密貨幣市場受到大幅拋售的衝擊，比特幣（BTC）的價值在過去一周經歷了急劇下跌。昨天，領先的數位資產暴跌至 2 月 27 日以來的最低水平，週四交易時段開盤價為 57,405 美元。這標誌著比特幣連續第三天下跌，原因是聯準會（Fed）未來降息的預期逐漸減弱。

Seasonally, May has historically proven to be a challenging month for Bitcoin and the broader cryptocurrency market. Over the past 13 years, Bitcoin has suffered an average 20% price decline during this period.

從季節性來看，歷史證明，五月對比特幣和更廣泛的加密貨幣市場來說是充滿挑戰的一個月。過去 13 年裡，比特幣價格平均下跌 20%。

Despite the recent price drop, on-chain analytics platform CryptoQuant has reported no signs of weakness among Bitcoin miners. However, it has also highlighted a concerning trend towards centralization in the mining industry. A single organization currently controls approximately 47% of the network's hash rate through its nine major mining pools, raising concerns about the potential for manipulation or disruption.

儘管最近價格下跌，但鏈上分析平台 CryptoQuant 報告稱，比特幣礦工沒有疲軟的跡象。然而，它也凸顯了採礦業集中化的令人擔憂的趨勢。目前，一個組織透過其九個主要礦池控制了大約 47% 的網路哈希率，這引發了人們對潛在的操縱或破壞的擔憂。

Outflows from Bitcoin exchange-traded investment funds (ETFs) have also been a contributing factor to the price decline. These products have experienced a five-day streak of outflows, bringing the total investment volume since their launch on January 11th to $11.94 billion. In April, there was a more balanced flow pattern.

比特幣交易所交易投資基金（ETF）的資金流出也是導致價格下跌的因素。這些產品經歷了連續五天的流出，使自1月11日推出以來的總投資額達到119.4億美元。 4月份，流量格局更為均衡。

Regulatory developments in the United States have also cast a shadow over the cryptocurrency market. The recent enactment of the cryptocurrency payment law is expected to pave the way for banks like JPMorgan to enter the space. However, the former CEO of Binance, Changpeng Zhao, was recently sentenced to four months in prison after the U.S. Department of Justice requested a three-year sentence.

美國的監管發展也為加密貨幣市場蒙上了陰影。最近頒布的加密貨幣支付法預計將為摩根大通等銀行進入該領域鋪平道路。然而，幣安前執行長趙長鵬最近在美國司法部請求判處三年徒刑後被判處四個月監禁。

The Fed's persistent hawkish stance on interest rates has also weighed on the cryptocurrency market. The Federal Open Market Committee expressed concerns about inflation yesterday but did not rule out the possibility of future rate cuts. However, the market's expectation of such cuts had previously provided significant support to Bitcoin and other digital assets.

聯準會在利率上持續的鷹派立場也給加密貨幣市場帶來壓力。聯邦公開市場委員會昨天表達了對通膨的擔憂，但不排除未來降息的可能性。然而，市場對此類降價的預期先前曾為比特幣和其他數位資產提供了重大支撐。

The current downturn has seen Bitcoin's price drop from its all-time high reached in March. This week, the cryptocurrency experienced a decline of over 10%, making April 2022 its worst performing month since November 2021.

當前的低迷導致比特幣的價格從三月創下的歷史高點回落。本週，加密貨幣跌幅超過 10%，使 2022 年 4 月成為自 2021 年 11 月以來表現最差的一個月。

Bitcoin futures markets also failed to provide support during this week's sell-off, indicating a lack of confidence among traders. While a strong recovery in the cryptocurrency market is expected later this year, market pressures and geopolitical events could lead to further price declines in the short term.

比特幣期貨市場在本週的拋售中也未能提供支撐，顯示交易者缺乏信心。儘管預計今年稍後加密貨幣市場將強勁復甦，但市場壓力和地緣政治事件可能導致短期內價格進一步下跌。

Over the next month or two, Bitcoin's price is expected to stabilize within a volatility range of $10,000 on either side. The impact of the recent halving, which reduces the issuance of new Bitcoin, may become more evident in the latter half of this year or early next year.

在接下來的一兩個月內，比特幣的價格預計將穩定在 10,000 美元左右的波動範圍內。最近減半導致新比特幣發行量減少，其影響可能在今年下半年或明年初變得更加明顯。