股票和加密貨幣市場暴跌，引發投資者不安

風險資產經歷了動盪的一周，週二和週三因通膨擔憂而暴跌，週五又大幅下跌。標準普爾 500 指數經歷了 2023 年 10 月以來最大的單週拋售，風險範圍內的損失不斷擴大。比特幣的主導地位飆升至 55% 以上，同時山寨幣也大幅拋售。 Memecoin 和新推出的代幣遭受嚴重損失，加劇了整體市場調整，而美國與稅收相關的流動性流失可能會加劇這一現象。

Equity and Cryptocurrency Markets Plummet, Sparking Concerns

股票和加密貨幣市場暴跌引發擔憂

This week witnessed a significant decline in risk assets, with a precipitous sell-off on Tuesday morning, exacerbated by a discouraging inflation report and persistent downward pressure throughout Friday's trading session. The S&P 500 index experienced a 1.7% loss, marking its most substantial weekly sell-off since last October's market bottom. The severity of losses intensified further out along the risk curve.

本週風險資產大幅下跌，週二上午出現急劇拋售，令人沮喪的通膨報告和整個週五交易時段持續的下行壓力加劇了這一情況。標普 500 指數下跌 1.7%，這是自去年 10 月市場觸底以來最大幅度的單週拋售。沿著風險曲線，損失的嚴重程度進一步加劇。

Bitcoin's peak-to-trough decline exceeded 10% this week, although it remained relatively modest compared to the significant drawdowns experienced by other cryptocurrencies. Notably, Bitcoin's price decline coincided with a surge in its dominance, leading to a massacre of altcoins.

比特幣本週從峰谷到谷底的跌幅超過了 10%，儘管與其他加密貨幣經歷的大幅跌幅相比，其幅度仍然相對較小。值得注意的是，比特幣的價格下跌恰逢其主導地位的飆升，導致了山寨幣的大屠殺。

Bitcoin Dominance breached a resistance level that had persisted since December 2023, surpassing the 55% mark for an extended period since April 2021. This upward movement paralleled a significant decline in the ETH/BTC ratio, which rejected the crucial 0.05 support level and established a new 2024 low.

比特幣的主導地位突破了自2023 年12 月以來一直存在的阻力位，自2021 年4 月以來在很長一段時間內超過了55% 大關。同時發生，比率拒絕了關鍵的0.05 支撐位，並建立了2024 年新低。

Despite previous optimism on Crypto Twitter that a rejection of the 55% level in Bitcoin Dominance would herald the onset of alt season, the violent upswing witnessed today challenges such notions.

儘管先前加密推特上樂觀地認為，拒絕比特幣主導地位的 55% 水平將預示著替代季節的到來，但今天見證的劇烈上漲挑戰了這種觀點。

Along the risk curve, popular memecoins and recently airdropped tokens endured even more substantial losses on Friday, ranging from the low teens to the high twenties percentagewise.

沿著風險曲線，流行的迷因幣和最近空投的代幣在周五遭受了更嚴重的損失，百分比範圍從十幾歲到二十多歲。

This downturn coincides with the commencement of tax season in the United States, which is believed to be inducing a significant liquidity drain as individuals liquidate assets to cover tax liabilities from 2023's market gains.

此次經濟低迷恰逢美國報稅季的開始，據信，隨著個人清算資產以彌補 2023 年市場收益的納稅義務，這將導致大量流動性流失。

Friday represented the final opportunity for many traders to sell in time to meet their tax obligations, raising the possibility of a market rebound next week with this added selling pressure subsiding.

週五是許多交易者及時賣出以履行納稅義務的最後機會，隨著拋售壓力的消退，下週市場反彈的可能性增加。

Analysts at Morgan Stanley had previously warned of a $265 billion capital gains tax selling event, contributing to the recent market volatility.

摩根士丹利分析師先前曾警告稱，2,650億美元的資本利得稅拋售事件加劇了近期的市場波動。

In conclusion, the recent sell-off in both equity and cryptocurrency markets has raised concerns among investors. While the impact of tax season may provide a partial explanation for this downward pressure, it remains to be seen whether markets will rebound or further decline in the coming weeks.

總之，近期股票和加密貨幣市場的拋售引起了投資者的擔憂。雖然報稅季的影響可能為這種下行壓力提供部分解釋，但未來幾週市場是反彈還是進一步下跌仍有待觀察。