隨著寬鬆的美國貨幣希望破滅，加密貨幣低迷加劇

Pepe、dogwifhat 和 Bonk 等深受 Meme 青睞的加密貨幣在過去 24 小時內暴跌，拖累小型數位資產跌幅創兩週多來最大單日跌幅。此次回落進一步表明，近期的加密貨幣漲勢（包括比特幣創下歷史新高）已在四月開始失去動力。

Crypto Downturn Intensifies Amidst Waning Hopes for Loose US Monetary Policy

美國寬鬆貨幣政策希望渺茫，加密貨幣低迷加劇

As the path towards a more accommodative monetary policy in the United States becomes increasingly elusive, the speculative fervor that has buoyed the cryptocurrency market is showing signs of faltering.

隨著美國採取更加寬鬆的貨幣政策的道路變得越來越難以捉摸，提振加密貨幣市場的投機熱情正顯示出動搖的跡象。

Meme Coins and Smaller Digital Assets Plunge

Meme 幣和較小的數位資產暴跌

Coins that have been popular with the meme-trading crowd, such as Pepe, dogwifhat, and Bonk, have all suffered significant declines over the past 24 hours. This sell-off has contributed to a broader downturn in the gauge of smaller digital assets, which experienced its steepest daily drop in over two weeks on Monday.

Pepe、dogwifhat 和 Bonk 等深受 meme 交易人群歡迎的代幣在過去 24 小時內均出現大幅下跌。這種拋售導緻小型數位資產指標出現更廣泛的下滑，該資產週一經歷了兩週多以來的最大單日跌幅。

Bitcoin Momentum Wanes

比特幣勢頭減弱

The retreat in smaller crypto assets comes as Bitcoin, the largest cryptocurrency by market capitalization, has also lost some of its upward momentum. Bitcoin's price has fallen by approximately 6% since hitting a record high of $73,798 in mid-March.

隨著市值最大的加密貨幣比特幣也失去了部分上漲動力，小型加密資產的撤退也隨之而來。自 3 月中旬觸及歷史新高 73,798 美元以來，比特幣價格已下跌約 6%。

Factors Contributing to the Downturn

導致經濟衰退的因素

Several factors are contributing to the current crypto sell-off. One key factor is the cooling of inflows into US spot-Bitcoin exchange-traded funds (ETFs). These ETFs had been a major source of demand for Bitcoin earlier this year, but the pace of inflows has slowed in recent weeks.

有幾個因素導致了當前的加密貨幣拋售。一個關鍵因素是流入美國現貨比特幣交易所交易基金（ETF）的資金降溫。這些 ETF 一直是今年稍早比特幣需求的主要來源，但最近幾週資金流入的速度有所放緩。

Additionally, a more cautious mood has pervaded global markets amid lingering inflationary pressures in the United States. This has led investors to curb their expectations of a significant loosening of monetary policy by the Federal Reserve, a development that had previously been seen as positive for speculative markets like cryptocurrencies.

此外，在美國通膨壓力揮之不去的情況下，全球市場瀰漫著更謹慎的情緒。這導致投資者抑制了對聯準會大幅放鬆貨幣政策的預期，這一進展先前被視為對加密貨幣等投機市場有利。

Upcoming Bitcoin Halving Event

即將到來的比特幣減半事件

Despite the current downturn, some analysts remain optimistic about Bitcoin's long-term prospects. The cryptocurrency's supply of new tokens is set to halve this month, a quadrennial event that some traders view as a potential catalyst for price appreciation.

儘管當前經濟低迷，一些分析師仍然對比特幣的長期前景持樂觀態度。這種加密貨幣的新代幣供應量將於本月減半，這是四年一度的事件，一些交易員認為這是價格升值的潛在催化劑。

However, the broader market conditions and the trajectory of US monetary policy remain key factors that will shape the future direction of the cryptocurrency market. Investors are advised to proceed with caution and carefully consider the risks associated with investing in this highly volatile asset class.

然而，更廣泛的市場狀況和美國貨幣政策的軌跡仍然是決定加密貨幣市場未來方向的關鍵因素。建議投資者謹慎行事，並仔細考慮投資這種高度波動的資產類別的相關風險。

Additional Market Insights

額外的市場洞察

• An index of the top 100 digital tokens rose by 61% during the first three months of the year, marking the largest gain since the same period in 2021.
• Investors are now anticipating fewer interest rate cuts by the Fed, which has led to higher Treasury yields and a stronger US dollar, creating a headwind for speculative markets like cryptocurrencies.
• Bitcoin was trading at $69,420 as of 9:58 AM Tuesday in Singapore, extending a decline of about 1.5% from the previous trading session in the United States.
• The cryptocurrency market is highly dynamic and prices can fluctuate rapidly, making it crucial for investors to have access to reliable information and analysis.

前 100 名的數位代幣指數今年前三個月上漲了 61%，創下 2021 年同期以來的最大漲幅。投資者現在預計聯準會降息幅度將會減少，這導致國債價格上漲收益率和美元走強，給加密貨幣等投機市場帶來了阻力。截至新加坡週二上午9:58，比特幣交易價格為69,420 美元，較美國前一交易日下跌約1.5%。市場高度動態，價格可能迅速波動，因此投資者獲得可靠的資訊和分析至關重要。