加密货币市场在盈利季节和加息担忧中陷入困境

What's Driving the Crypto Market's Recent Slump?

是什么推动了加密货币市场最近的低迷？

Bitcoin and ether, the two largest cryptocurrencies by market capitalization, kicked off the Asian trading session in the red. Bitcoin dipped nearly 4% to $22,795, while ether shed 4.8% to $1,568. Investors are closely watching the upcoming earnings season in the United States, which is expected to be underwhelming, and another potential interest rate hike by the Federal Reserve.

比特币和以太币这两种市值最大的加密货币在亚洲交易时段以亏损拉开序幕。比特币下跌近 4% 至 22,795 美元，而以太币下跌 4.8% 至 1,568 美元。投资者正在密切关注美国即将到来的财报季，预计该财报季将不会给人留下深刻印象，以及美联储可能再次加息。

Bitcoin-Tech Stock Correlation Under Scrutiny

比特币与科技股的相关性受到密切关注

The correlation between bitcoin and tech stocks will be tested once again as Wall Street kicks off its earnings season. Analysts predict a 3% decline in S&P 500 earnings this week, with tech companies expected to see an 8.7% drop. The Federal Reserve is also expected to raise interest rates by 25 basis points, the smallest increase in almost a year. These factors will continue to influence the relationship between bitcoin and the broader stock market.

随着华尔街财报季的拉开序幕，比特币和科技股之间的相关性将再次受到考验。分析师预计本周标普 500 指数盈利将下跌 3%，其中科技公司盈利预计下跌 8.7%。预计美联储还将加息25个基点，这是近一年来最小的涨幅。这些因素将继续影响比特币与更广泛的股票市场之间的关系。

Exchange Tokens Show Resilience Despite SEC Scrutiny

尽管受到 SEC 审查，交易所代币仍表现出弹性

Centralized exchange tokens have posted solid gains in January, despite the Securities and Exchange Commission's (SEC) interest in their potential classification as securities. Binance's BNB, Crypto.com's CRO, and KuCoin's KCS have all recorded double-digit growth. However, the SEC's recent complaint against FTX's former exchange token, FTT, has raised questions about the regulatory landscape for these tokens.

尽管美国证券交易委员会（SEC）对其潜在的证券分类感兴趣，但中心化交易代币在一月份仍取得了稳健的增长。 Binance的BNB、Crypto.com的CRO和KuCoin的KCS都录得两位数的增长。然而，SEC 最近对 FTX 的前交易所代币 FTT 提出投诉，引发了人们对这些代币监管环境的质疑。

Are Exchange Tokens Securities in Disguise?

交易所代币是变相证券吗？

The SEC's complaint against FTT highlighted the potential for exchange tokens to meet the criteria for securities. The complaint alleged that FTT's allocation to FTX management incentivized them to increase demand for the token and boost its trading price. This description could apply to many exchange tokens on the market, but not all. OKX, for instance, has emphasized that its native token is not a significant part of its business or treasury.

SEC 对 FTT 的投诉凸显了交易所代币满足证券标准的潜力。投诉称，FTT 分配给 FTX 管理层会激励他们增加对该代币的需求并提高其交易价格。此描述适用于市场上的许多交易代币，但并非全部。例如，OKX 强调其原生代币并不是其业务或财务的重要组成部分。

SEC's Reach: A Concern for Offshore Exchanges?

SEC 的影响力：离岸交易所的担忧？

Exchange tokens are typically offered by offshore exchanges that do not have a significant presence in the United States. However, the SEC's recent actions against BitMex demonstrate that it is willing to pursue enforcement actions against companies that operate outside of U.S. jurisdiction. The market may have priced in the possibility that the SEC may not be able to effectively regulate exchange tokens, but the SEC's determination could pose a risk to these exchanges in the future.

交易所代币通常由在美国没有大量业务的离岸交易所提供。然而，SEC 最近针对 BitMex 的行动表明，它愿意对在美国管辖范围之外运营的公司采取执法行动。市场可能已经消化了 SEC 可能无法有效监管交易所代币的可能性，但 SEC 的决定可能会给这些交易所未来带来风险。

Upcoming Economic Events to Watch

即将发生的经济事件值得关注

• Australia Retail Sales s.a. (MoM/Dec): 8:30 a.m. HKT/SGT (00:30 UTC)
• Germany Retail Sales (YoY/Dec): 3:00 p.m. HKT/SGT (7:00 UTC)
• European Central Bank Lending Survey: 5:00 p.m. HKT/SGT (9:00 UTC)

Cryptocurrency News Highlights

澳大利亚零售销售公司（环比/十二月）：上午 8:30 香港时间/新加坡时间（世界标准时间 00:30）德国零售销售（同比/十二月）：下午 3:00 HKT/SGT (7:00 UTC)欧洲央行贷款调查：下午 5:00 HKT/SGT (9:00 UTC)加密货币新闻摘要

• Sandbox's SAND Surges 90% Since Start of Year Ahead of Token Unlock
• Crypto-Focused VC Firm Pantera's Liquid Token Fund Lost 80% in 2022
• Elon Musk Wants Twitter Payments System to Accommodate Crypto
• BlockFi's Crypto Mining Assets May Be Headed to Market After Bankruptcy Hearing
• Binance Partners With Mastercard to Launch Prepaid Crypto Card in Brazil

在代币解锁之前，Sandbox 的 SAND 自年初以来飙升 90% 专注于加密货币的风险投资公司 Pantera 的流动代币基金在 2022 年损失了 80% 埃隆·马斯克希望 Twitter 支付系统能够容纳 CryptoBlockFi 的加密货币挖矿资产可能会在破产听证会后进入市场币安与万事达卡合作推出巴西的预付加密卡