比特幣在市場拋售中回落，進入熊市區域

週三，比特幣連續第三天下跌，儘管重新回到 57,200 美元的水平，但仍創下 2022 年底以來的最大月度跌幅。此次撤退反映了投資者在聯準會利率決定之前撤出加密貨幣行業的更廣泛趨勢。

Bitcoin Retreats Amid Market Downturn, Faces Bear Market Concerns

比特幣在市場低迷中回落，面臨熊市擔憂

Bitcoin, the dominant cryptocurrency, has experienced a sustained decline over the past three days, extending its monthly losses to their most significant extent since the end of 2022. Despite this downturn, Bitcoin managed to recover to the $57,200 level.

主導的加密貨幣比特幣在過去三天經歷了持續下跌，將其月度跌幅擴大到了 2022 年底以來的最大程度。

The cryptocurrency market has seen a broader trend of investors withdrawing from the sector in anticipation of the Federal Reserve's imminent interest rate decision. This decision is expected to have significant implications for interest rate-sensitive assets.

由於預期聯準會即將做出利率決定，加密貨幣市場出現了投資者退出該行業的更廣泛趨勢。預計這項決定將對利率敏感資產產生重大影響。

In April, Bitcoin's value plummeted by nearly 16% as investors realized profits from a bullish rally that had propelled prices to record highs exceeding $70,000.

4 月份，比特幣的價值暴跌近 16%，投資者從看漲反彈中獲利，推動比特幣價格創下超過 7 萬美元的歷史新高。

According to the most recent data, Bitcoin lost 8% to $57,325, marking its lowest value since late February. Ethereum, another prominent cryptocurrency, suffered smaller losses, declining by 5.9% to $2,880, its weakest performance since February.

根據最新數據，比特幣下跌 8% 至 57,325 美元，創下 2 月底以來的最低值。另一種著名的加密貨幣以太坊跌幅較小，下跌 5.9% 至 2,880 美元，為 2 月以來的最弱表現。

With Bitcoin now trading 22% below its March peak of $73,700, the cryptocurrency has technically entered bear market territory. However, it has maintained its 35% annual gain, doubling in value compared to this time last year. This growth has been driven in part by the billions of dollars that have flowed into newly established exchange-traded funds (ETFs) since January.

目前比特幣的交易價格比 3 月高峰 73,700 美元低 22%，從技術上講，這種加密貨幣已經進入熊市區域。然而，它仍保持了35%的年漲幅，與去年同期相比翻了一番。這種成長的部分原因是自一月以來數十億美元流入新成立的交易所交易基金（ETF）。

Analysts attribute the recent downturn to profit-taking by investors who entered the market during the dips in 2022 and 2023, as well as ETF investors who have witnessed substantial asset appreciation since the start of 2024.

分析師將近期的低迷歸因於在 2022 年和 2023 年股市低迷期間進入市場的投資者以及自 2024 年初以來資產大幅增值的 ETF 投資者的獲利了結。

Macroeconomic factors are also playing a role. While the Federal Reserve is not anticipated to alter interest rates, investors are increasingly speculating that the central bank may postpone rate cuts this year. This has negatively impacted interest rate-sensitive assets such as cryptocurrencies, stocks, and bonds in emerging commodity markets.

宏觀經濟因素也在發揮作用。儘管預計聯準會不會調整利率，但投資者越來越多地猜測聯準會今年可能會推遲降息。這對新興商品市場的加密貨幣、股票和債券等利率敏感資產產生了負面影響。

Data from LSEG indicates outflows of up to $496 million this week, primarily due to a slowdown in inflows into BlackRock's iShares BTC Trust, the ETF with the largest asset holdings.

倫敦證交所的數據顯示，本週資金流出高達 4.96 億美元，主要是由於貝萊德旗下持有最大資產的 ETF iShares BTC Trust 的資金流入放緩。

The "halving event" in April, which entailed a modification to Bitcoin's underlying technology intended to reduce the rate of new BTC creation, had a muted impact on the cryptocurrency's price. Since the April 20 event, the digital asset has lost approximately 15%.

四月份的「減半事件」需要對比特幣的底層技術進行修改，旨在降低新比特幣的創造速度，但對加密貨幣的價格影響不大。自 4 月 20 日事件以來，該數位資產已下跌約 15%。

Analysts remain cautious about Bitcoin's short-term prospects, with some predicting further declines in the absence of a significant market catalyst. However, the cryptocurrency's long-term outlook remains uncertain, with the potential for continued growth but also the risk of further volatility.

分析師對比特幣的短期前景仍持謹慎態度，有些人預測，在缺乏重大市場催化劑的情況下，比特幣將進一步下跌。然而，加密貨幣的長期前景仍不確定，有持續成長的潛力，但也有進一步波動的風險。