避险情绪加剧，加密货币大幅下跌，比特币跌幅超过 14%

截至伦敦上午 7:20，顶级代币比特币回落至 50,900 美元，上周跌幅达 13.1%，这是自 FTX 交易所崩溃以来最严重的跌幅。

Cryptocurrencies tumbled on Monday as a bout of risk aversion in global markets hit digital assets hard, sending bitcoin down more than 14% and ether on track for its steepest fall since 2021.

由于全球市场的一轮避险情绪重创数字资产，加密货币周一暴跌，导致比特币下跌超过 14%，以太坊有望创下 2021 年以来的最大跌幅。

Bitcoin fell to $50,900 at 7:20 a.m. in London, adding to a 13.1% drop last week that was the worst since the period when the FTX exchange imploded. Ether slid by more than a fifth at one stage before paring some of the decline to change hands at $2,286. Most major coins were deeply in the red.

伦敦上午 7:20 比特币跌至 50,900 美元，上周跌幅达 13.1%，这是自 FTX 交易所崩溃以来最严重的跌幅。以太坊一度下跌超过五分之一，随后收复部分跌幅，以 2,286 美元易手。大多数主要货币都严重亏损。

The declines come as a global stock selloff intensifies, reflecting concerns about the economic outlook and questions over whether heavy investment into artificial intelligence will live up to the hype surrounding the technology. Geopolitical tension is rising in the Middle East, adding to investor skittishness.

此次下跌之际，全球股市抛售加剧，反映出人们对经济前景的担忧，以及对人工智能的大量投资是否会辜负围绕该技术的炒作的疑问。中东地缘政治紧张局势加剧，加剧了投资者的不安情绪。

US exchange-traded funds for bitcoin suffered their largest outflows in about three months on Aug. 2. One question is whether the products will attract dip buyers when they resume trading, or succumb to deeper exits.

8 月 2 日，美国比特币交易所交易基金遭受了约三个月来最大规模的资金外流。一个问题是，这些产品在恢复交易时是否会吸引逢低买家，或者会导致更深的退出。

Carry Trade

利差交易

Digital assets are a victim in part of the unwinding yen carry trade, as speculators adjust to higher interest rates in Japan, according to Hayden Hughes, head of crypto investments at family office Evergreen Growth.

家族办公室 Evergreen Growth 加密投资主管 Hayden Hughes 表示，随着投机者适应日本利率上升，数字资产成为日元套利交易平仓的一部分受害者。

“Those investors are also fighting a drastic increase in hedging costs based on the volatility in the US dollar-Japanese yen trading pair,” said Hughes.

休斯表示：“由于美元兑日元交易对的波动，这些投资者还面临着对冲成本急剧上升的挑战。”

Bitcoin has been buffeted by a range of factors since hitting a record of $73,798 in March. That includes US political flux as pro-crypto Republican Donald Trump and Democratic opponent Vice President Kamala Harris — who has yet to detail a digital-asset policy stance — lock horns in the presidential race.

自 3 月份触及 73,798 美元的纪录以来，比特币一直受到一系列因素的冲击。其中包括支持加密货币的共和党人唐纳德·特朗普和民主党对手副总统卡玛拉·哈里斯（尚未详细说明数字资产政策立场）在总统竞选中的激烈角逐，美国的政治变化。

Also hanging over the market are possible sales of bitcoin seized by governments and the risk of a supply overhang from tokens returned to creditors through bankruptcy proceedings.

市场上还悬而未决的还有政府可能出售的比特币，以及通过破产程序返还给债权人的代币供应过剩的风险。

Fed Outlook

美联储展望

Bond traders have amplified bets on US interest-rate cuts beginning in September to support economic expansion. The prospect of less restrictive monetary policy is actually “a good thing for crypto,” argued Sean Farrell, head of digital-asset strategy at Fundstrat Global Advisors LLC.

债券交易商加大了对美国从 9 月份开始降息以支持经济扩张的押注。 Fundstrat Global Advisors LLC 数字资产策略主管肖恩·法雷尔 (Sean Farrell) 认为，限制性货币政策放松的前景实际上“对加密货币来说是一件好事”。

The bitcoin retreat at its nadir Monday left the token at levels last seen in February. Ether, meanwhile, earlier fell back to prices previously seen at the turn of the year. Similar to bitcoin, one unknown is how investors in new US spot-ether ETFs will react.

周一，比特币跌至最低点，使其处于 2 月份的水平。与此同时，以太币早些时候回落至年初时的价格。与比特币类似，一个未知数是新的美国现货以太 ETF 的投资者将如何反应。

Justin D’Anethan, head of Asia-Pacific business development at market maker Keyrock, said the crypto rout appeared somewhat ether-led, flagging social-media rumors of institutional-selling of ether-related assets.

做市商 Keyrock 亚太区业务开发主管 Justin D'Anethan 表示，加密货币暴跌似乎在一定程度上是由以太币主导的，这标志着社交媒体上关于机构出售以太币相关资产的谣言。

About $790 million of bullish crypto positions using derivatives were liquidated in the past 24 hours, Coinglass data show, a sign of leveraged bets coming unstuck.

Coinglass 数据显示，过去 24 小时内，使用衍生品的约 7.9 亿美元看涨加密货币头寸被清算，这是杠杆押注失败的迹象。

Khushboo Khullar, a venture partner at Lightning Ventures, which invests in Bitcoin-linked companies, said the broad stock slump had caused some “panic,” spurring investors to rush for liquidity to settle margin calls. She argued the crypto retreat is a “fine buying opportunity.”

投资比特币相关公司的 Lightning Ventures 的风险合伙人 Khushboo Khullar 表示，股市大跌引发了一些“恐慌”，促使投资者争先恐后地寻求流动性以解决追加保证金的问题。她认为加密货币撤退是一个“很好的买入机会”。

Bitcoin’s year-to-date advance has moderated to approximately 16%, compared with an 18% climb in gold and an 8% jump in a gauge of global stocks.

比特币今年迄今的涨幅已放缓至约 16%，而黄金上涨 18%，全球股市上涨 8%。