Interest rate markets may have biggest impact on bitcoin in near term, this asset manager says
Interest rate markets may have biggest impact on bitcoin in near term, this asset manager says
By Frances Yue
作者：弗朗西斯·岳(Frances Yue)
Major cryptocurrencies and crypto-related stocks and funds tumble, amid concern about a new COVID variant
主要加密货币和加密相关股票和基金暴跌，市场担心新的COVID变体
Happy belated Thanksgiving! Welcome to Distributed Ledger, our weekly crypto newsletter, which usually reaches your inbox on Thursday. This installment is going out on Friday due to the holiday.
迟来的感恩节快乐！欢迎收看“分布式分类帐”，这是我们每周一次的加密通讯，通常在周四送到你的收件箱。由于放假，这期将于星期五发行。
I'm Frances Yue, crypto reporter at MarketWatch, and I'll walk you through the latest and greatest in digital assets this week so far. Find me on Twitter at @FrancesYue_ to send feedback or chat about anything crypto.
我是MarketWatch的密码记者弗朗西丝·岳，我将带你了解本周到目前为止最新和最伟大的数字资产。在Twitter上@FrancesYue_找到我，发送反馈或谈论任何密码。
Subscribe here if you haven't done so!
如果您还没有订阅，请在此处订阅！
Crypto in a snap
一蹴而就的加密
Major cryptocurrencies slid for another week and plunged on Friday amid broad sell-offs of risky assets, after a new variant of COVID-19 was detected in South Africa.
主要加密货币又下滑了一周，上周五，在南非发现一种新的新冠肺炎变体后，风险资产遭到广泛抛售，主要加密货币大幅下跌。
Bitcoin fell more than 7% on Friday, with a 1.1% loss for the past seven days, according to CoinDesk data. The cryptocurrency was recently trading at $54,460 early New York time. Ether plunged more than 9% on Friday, while it logged a 2.3% gain over the past seven days. Dogecoin recorded a 9% loss over the past seven days, while Shiba Inu fell roughly 10% over the past seven days.
CoinDesk数据显示，比特币周五下跌逾7%，过去七日累计下跌1.1%。纽约时间最近早些时候，这种加密货币的交易价格为54,460美元。乙醚周五暴跌逾9%，而过去七天则录得2.3%的涨幅。Dogecoin在过去七天里下跌了9%，柴犬在过去七天里下跌了大约10%。
Crypto Metrics
加密指标
Biggest Gainers Price % 7-day return Gala $0.68 201.5% The Sandbox $6.99 64.1% Zcash $253.2 60.1% Basic Attention Token $1.51 37.4% Crypto.com Coin $0.68 32.3% Source: CoinMarketCap.com as of Nov. 26 Biggest Decliners Price % 7-day return Nexo $2.37 -21.2% ICON $1.7 -24.5% loTeX $0.15 -19.1% OMG Network $7.99 -19.05% WAX $0.73 -18.9% Source: CoinMarketCap.com as of Nov.26
最大涨幅价格%7天回报晚会$0.68 201.5%沙盒$6.99 64.1%ZCash$253.2 60.1%基本关注令牌$1.5 37.4%Crypto.com Coin$0.68 32.3%7天返还Nexo$2.37-21.2%图标$1.7-24.5%loTeX$0.15-19.1%OMG Network$7.99-19.05%WAX$0.73-18.9%来源：coinmarket cap.com截至11月26日
Macro uncertainties
宏观不确定性
Ben McMillan, founder and chief investment officer at crypto asset manager IDX Digital Assets, said that for the past few weeks, the firm has been "very cautious on crypto" and has been "repositioning portfolios more defensively," as major cryptocurrencies saw higher volatility.
密码资产管理公司IDX Digital Assets的创始人兼首席投资官本·麦克米兰(Ben McMillan)表示，过去几周，该公司“对密码非常谨慎”，并一直“以更具防御性的方式重新定位投资组合”，因为主要加密货币的波动性更高。
"Bitcoin just hit all-time highs. So there's always a little bit of a pause," McMillan told MarketWatch in an interview. On Nov. 10, bitcoin notched a record high of $68,991, according to CoinDesk data. "As it tests all-time highs, you start to see market participants taking profits. That's not unexpected," according to McMillan.
麦克米兰在接受MarketWatch采访时表示：“比特币刚刚创下历史新高。所以总会有一些停顿。”根据CoinDesk的数据，11月10日，比特币创下了68991美元的历史新高。麦克米兰说：“当它测试历史新高时，你开始看到市场参与者获利了结。这并不出人意料。”
Global macroeconomics uncertainty also adds to the recent selloff pressure, said McMillan. Although the narrative that bitcoin could be used as an inflation hedge has contributed to the cryptocurrency's earlier bull run, bitcoin has recently started to demonstrate some sensitivity to interest rates, according to McMillan.
麦克米兰表示，全球宏观经济的不确定性也增加了最近的抛售压力。麦克米兰表示，尽管比特币可能被用作通胀对冲的说法在一定程度上推动了这种加密货币早些时候的牛市，但比特币最近开始对利率表现出一定的敏感性。
"A good example is when you looked at the record high CPI numbers that came out a couple of weeks ago, what was interesting was that Bitcoin initially traded up on that news consistent with the idea of Bitcoin as an inflation hedge, but it actually sold off very quickly a few hours later as the rates market started trading up," McMillan added.
麦克米兰补充说：“一个很好的例子是，当你看到几周前公布的创纪录的CPI数据时，有趣的是，比特币最初因这一消息而上涨，这与比特币作为通胀对冲的想法一致，但几个小时后，随着利率市场开始上涨，比特币实际上很快就被抛售了。”
McMillan said he expects continued volatility through the year-end. "That doesn't mean that bitcoin can't hit all-time highs. It just means that we're expecting there to be more weakness ahead in the immediate term," McMillan said.
麦克米兰表示，他预计年底前波动性将持续。麦克米兰说：“这并不意味着比特币不能创下历史新高。这只是意味着我们预计近期会出现更多的疲软。”
Bitcoin leaving exchanges
比特币离开交易所
As of Wednesday, the amount of bitcoin held by exchanges fell to around 2.3 million, a more-than-three-year low, according to CryptoQuant.
根据CryptoQuant的数据，截至周三，交易所持有的比特币数量降至230万枚左右，为三年多来的最低点。
This sign is usually interpreted as bullish in the long term. "Waning supply on exchanges typically means that market participants are moving BTC into cold storage because they see incremental upside for the foreseeable future," wrote a recent report by crypto exchange Kraken.
这一迹象通常被解读为长期看涨。密码交易所克拉肯(Kraken)最近的一份报告写道：“交易所供应的减少通常意味着市场参与者正在将比特币转移到冷藏中，因为他们认为在可预见的未来会出现增量上涨。”
However, there are exceptions. Market participants may be "moving funds onto lending platforms, making a peer-to-peer sale, or tokenizing their BTC on other blockchains," according to the report.
然而，也有例外。根据这份报告，市场参与者可能正在“将资金转移到借贷平台上，进行点对点销售，或者在其他区块链上标记化他们的BTC”。
India's potential crypto ban
印度潜在的密码禁令
According to the India parliament's bulletin dated Tuesday, the government plans to introduce a bill, which seeks to build a framework for the creation of India's official digital currency, in the parliament's "Winter Session" starting Nov. 29.
根据印度议会周二的公告，政府计划在11月29日开始的议会冬季会议上提出一项法案，该法案旨在为印度官方数字货币的创建建立一个框架。
The bill also seeks to ban all private cryptocurrencies in India, but would allow "certain exceptions to promote the underlying technology of cryptocurrency and its uses," according to the bulletin.
公告称，该法案还寻求禁止印度所有私人加密货币，但将允许“某些例外情况，以促进加密货币的基础技术及其使用”。
John Kicklighter, chief strategist at research site DailyFX wrote to MarketWatch in an email that "the verbiage of the bill isn't particularly clear, but the density of long-only speculative interests will naturally read into the risks associated with any regulation."
研究网站DailyFX的首席策略师约翰·基克莱特(John Kicklight)在给MarketWatch的一封电子邮件中写道，“法案的措辞不是特别清楚，但只做多的投机利益的密度自然会读出与任何监管相关的风险。”
Mikkel Morch, executive director at crypto hedge fund ARK36 wrote that "what's interesting is that the situation does underscore the fact that the adoption of cryptocurrencies around the globe has happened so fast that it has also given rise to a new set of challenges for governments and financial regulators."
加密对冲基金ARK36的执行董事米克尔·莫尔奇(Mikkel Morch)写道：“有趣的是，这种情况确实突显了这样一个事实，即加密货币在全球范围内的采用速度如此之快，也给政府和金融监管机构带来了一系列新的挑战。”
Crypto companies, funds
密码公司、基金
In crypto-related company news, shares of Coinbase (COIN) went down 4% to $299.6 Friday morning. It was down 7% for the past five trading days. Michael Saylor's MicroStrategy Inc. (MSFT) dropped 4.7% to $669 Friday morning. It was down 8% over the past five days.
在与密码相关的公司新闻方面，Coinbase的股价周五上午下跌了4%，至299.6美元。过去五个交易日累计下跌7%。迈克尔·塞勒的微战略公司(MicroStrategy Inc.)周五早盘下跌4.7%，至669美元。过去五天累计下跌8%。
Mining company Riot Blockchain Inc. (RIOT) shares fell 4.4% to $35, while it gained 4.3% over the past five days. Shares of Marathon Digital Holdings Inc. (MARA) plunged 7.4% to $48.5, contributing to a 5.4% loss over the past five days. Another miner Ebang International Holdings Inc. (EBON) dived 9.8% to $1.51, with a 15.8% loss over the past five days.
矿业公司Riot Block Chain Inc.股价下跌4.4%，至35美元，过去五个交易日上涨4.3%。马拉松数字控股公司(Mara)股价暴跌7.4%，至48.5美元，导致过去五个交易日累计下跌5.4%。另一家矿商亿邦国际(EBON)暴跌9.8%，报1.51美元，过去五个交易日累计下跌15.8%.
Overstock.com Inc. (OSTK) went up 1.6% to $94.3, while it was down 11.5% over the past five days.
Overstock.com Inc.上涨1.6%，至94.3美元，而过去五个交易日下跌11.5%。
Square Inc. (SQ)'s shares inched down 1.4% to $213.1, with a 7.3% loss for the past five days. Tesla Inc.'s (TSLA) shares went down 2.8% to $1,086, with a 1.07% loss over the past five days.
Square Inc.股价小幅下跌1.4%，至213.1美元，过去五个交易日累计下跌7.3%。特斯拉(Tesla Inc.)股价下跌2.8%，至1,086美元，过去五个交易日累计下跌1.07%。
PayPal Holdings Inc. (PYPL) inched up 1.3% to $191, while it recorded a 4.8% loss over the past five days, while NVIDIA Corp. (NVDA) went down 1.62% to $321.5, with a 1.38% gain over the past five days.
PayPal微幅上涨1.3%，至191美元，过去五个交易日累计下跌4.8%；英伟达(NVIDIA Corp.)下跌1.62%，至321.5美元，过去五个交易日累计上涨1.38%。
Advanced Micro Devices Inc. (AMD) went down 0.53% to $157 and notched a 1.8% return over the past five days.
美国超微公司股价下跌0.53%，至157美元，过去五个交易日的回报率为1.8%。
In the fund space, ProShares Bitcoin Strategy ETF (BITO) went down 5% to $34.7 Friday morning, while Valkyrie Bitcoin Strategy ETF (BTF) declined 5.2% to $21.4. VanEck Bitcoin Strategy ETF (XBTF) dropped 5.5% to $54.2.
在基金领域，ProShares比特币策略ETF(Bito)周五上午下跌5%，至34.7美元，Valkyrie比特币策略ETF(BTF)下跌5.2%，至21.4美元。Vaneck比特币策略ETF(XBTF)下跌5.5%，至54.2美元。
Grayscale Bitcoin Trust (GBTC) went down 4.6% to $44.3, with a 4.2% loss over the past five days.
灰度比特币信托(GBTC)下跌4.6%，报44.3美元，过去五天累计下跌4.2%。
-Frances Yue
--弗朗西斯·余(Frances Yue)
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