诸如Dogecoin（Doge），Cardano（ADA）和Solana（Sol）等主要令牌的下降幅度超过5％

随着交易员搬走一些利润，诸如Dogecoin（Doge），Cardano（ADA）和Solana（Sol）等主要令牌均下滑了5％以上

Major tokens such as dogecoin (DOGE), cardano (ADA), and solana (SOL) slipped more than 5% in the past 24 hours as traders moved to lock in some profits after a strong week-long rally.

在过去的24小时内，诸如Dogecoin（Doge），Cardano（Ada）和Solana（Sol）之类的主要代币在过去的24小时内下滑了5％以上，因为交易者在长达一周的一次集会后锁定了一些利润。

The broader crypto market surged alongside risk assets last week, fueled by macroeconomic tailwinds and renewed investor optimism, but signs are emerging that some overheated segments may be due for a pause.

宏观经济的后风和更新的投资者乐观的推动力，更广泛的加密货币市场与风险资产一起激增，但迹象表明一些过热的细分市场可能会暂停。

“Bitcoin has been hovering around the $104,000 level for the sixth day, experiencing increased rotation,” FxPro’s Alex Kuptsikevich told CoinDesk in an email.

FXPRO的Alex Kuptsikevich在一封电子邮件中告诉Coindesk：“第六天的比特币一直徘徊在第六天的104,000美元水平上。”

“This is quite expected behaviour as we approach the all-time highs of December and January, which served as turning points.”

“当我们接近12月和1月的历史最高水平时，这是非常预期的行为，这是转折点。”

“Ether is trading around $2615, having failed to consolidate above the $2700 mark, around which the 200-day moving average also passes. It is likely that after rallying 55% over the past seven days, the second-largest capitalised cryptocurrency will probably pause or start a correction with a potential target at $2400,” Kuptsikevich warned.

“以太币的交易价格约为2615美元，未能巩固超过2700美元的成绩，而200天的移动平均值也通过了。在过去的七天中，在过去的七天中增加了55％后，第二大资本化的加密货币可能会暂停或以2400美元的价格纠正，”

Sentiment indicators also reflect growing exuberance, with the Crypto Fear & Greed Index touching 73, approaching levels typically associated with overheated conditions, as noted Tuesday.

情绪指标还反映了日益增长的旺盛，加密恐惧和贪婪的指数触及73，正如周二所指出的那样，通常与过热条件相关的水平。

Earlier in the week, risk appetite surged after a combination of positive U.S. inflation data, strong earnings from China's tech sector, and a breakthrough U.S.–China trade agreement boosted global equity markets. Crypto followed, with bitcoin briefly topping $104,000 and ether climbing to $2,700 — before both ran into resistance.

在本周早些时候，在美国积极通货膨胀数据，中国科技领域的丰厚收入以及美国 - 中国贸易协定的突破性增长的全球股票市场之后，风险偏好激增。紧随其后的是，比特币短暂高高104,000美元，以太币攀升至2,700美元，然后才遇到阻力。

“China's tech sector earnings surged in the wake of the US-China trade deal announcement, leading investors to hope for increased investments and innovations like AI last year,” Haiyang Ru, Co-CEO of the HashKey Exchange Business Group, said in a Telegram message.

Hashkey Exchange Business Group的联合首席执行官Haiyang Ru在一份Telegram信息中说：“在美国 - 中国贸易交易公告之后，中国的科技行业收入激增，这使投资者希望去年增加投资和创新。”

“Additionally, a monthly report revealed that US inflation was lower than expected, adding more fuel for a continued bull run in the markets,” Ru said.

Ru说：“此外，每月的报告显示，美国的通货膨胀率低于预期，为市场上继续奔跑的燃料增加了更多的燃料。”

Still, institutional activity remains robust. Santiment data from earlier this week showed mid-sized bitcoin holders, or wallets with 10 to 10,000 BTC, had accumulated over 83,000 BTC in the past month.

尽管如此，机构活动仍然很强大。在本周早些时候的数据显示，中型比特币持有人或10至10,000 BTC的钱包在过去一个月中累积了超过83,000 BTC。

Meanwhile, Coinbase’s upcoming inclusion in the S&P 500 on May 19 is viewed as a short-term catalyst for the sector, with some analysts estimating passive fund demand for the stock could top $9 billion.

同时，Coinbase即将在5月19日将其纳入标准普尔500指数被视为该行业的短期催化剂，一些分析师估计该股票的被动基金需求可能会超过90亿美元。

“We believe there is further room for digital assets to rally, especially as Coinbase’s inclusion into the S&P 500 on 19 May draws closer,’ Singapore-based QCP Capital said in a Telegram broadcast late Wednesday.

“我们相信，数字资产还有更多的余地，尤其是当Coinbase在5月19日将标准普尔500指数纳入标准普尔500指数时，总部位于新加坡的QCP Capital在周三晚些时候的电报广播中说。

“History tells us that index inclusion tends to act as a short-term catalyst, as passive managers adjust their allocations to track the benchmark more closely,” the fund noted.

该基金指出：“历史告诉我们，随着被动经理调整其分配以更仔细地跟踪基准，索引包容倾向于起到短期催化剂的作用。”