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
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. By Frances Yue
作者：弗朗西斯·嶽(Frances Yue)
Major cryptocurrencies and crypto-related stocks and funds tumble, amid concern about a new COVID variant
主要加密貨幣和加密相關股票和基金暴跌，市場擔心新的COVID變體
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.
遲來的感恩節快樂！歡迎收看“分佈式分類帳”，這是我們每週一次的加密通訊，通常在週四送到你的收件箱。由於放假，這期將於星期五發行。
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的密碼記者弗朗西絲·嶽，我將帶你瞭解本週到目前為止最新和最偉大的數字資產。在Twitter上@FrancesYue_找到我，發送反饋或談論任何密碼。
Subscribe here if you haven't done so!
如果您還沒有訂閲，請在此處訂閲！
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.
主要加密貨幣又下滑了一週，上週五，在南非發現一種新的新冠肺炎變體後，風險資產遭到廣泛拋售，主要加密貨幣大幅下跌。
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數據顯示，比特幣週五下跌逾7%，過去七日累計下跌1.1%。紐約時間最近早些時候，這種加密貨幣的交易價格為54,460美元。乙醚週五暴跌逾9%，而過去七天則錄得2.3%的漲幅。Dogecoin在過去七天裏下跌了9%，柴犬在過去七天裏下跌了大約10%。
Crypto Metrics
加密指標
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
最大漲幅價格%7天回報晚會$0.68 201.5%沙盒$6.99 64.1%ZCash$253.2 60.1%基本關注令牌$1.5 37.4%Crypto.com Coin$0.68 32.3%7天返還Nexo$2.37-21.2%圖標$1.7-24.5%loTeX$0.15-19.1%OMG Network$7.99-19.05%WAX$0.73-18.9%來源：coinmarket cap.com截至11月26日
Macro uncertainties
宏觀不確定性
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.
密碼資產管理公司IDX Digital Assets的創始人兼首席投資官本·麥克米蘭(Ben McMillan)表示，過去幾周，該公司“對密碼非常謹慎”，並一直“以更具防禦性的方式重新定位投資組合”，因為主要加密貨幣的波動性更高。
"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.
麥克米蘭在接受MarketWatch採訪時表示：“比特幣剛剛創下歷史新高。所以總會有一些停頓。”根據CoinDesk的數據，11月10日，比特幣創下了68991美元的歷史新高。麥克米蘭説：“當它測試歷史新高時，你開始看到市場參與者獲利了結。這並不出人意料。”
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.
麥克米蘭表示，全球宏觀經濟的不確定性也增加了最近的拋售壓力。麥克米蘭表示，儘管比特幣可能被用作通脹對衝的説法在一定程度上推動了這種加密貨幣早些時候的牛市，但比特幣最近開始對利率表現出一定的敏感性。
"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.
麥克米蘭補充説：“一個很好的例子是，當你看到幾周前公佈的創紀錄的CPI數據時，有趣的是，比特幣最初因這一消息而上漲，這與比特幣作為通脹對衝的想法一致，但幾個小時後，隨着利率市場開始上漲，比特幣實際上很快就被拋售了。”
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.
麥克米蘭表示，他預計年底前波動性將持續。麥克米蘭説：“這並不意味着比特幣不能創下歷史新高。這只是意味着我們預計近期會出現更多的疲軟。”
Bitcoin leaving exchanges
比特幣離開交易所
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.
根據CryptoQuant的數據，截至週三，交易所持有的比特幣數量降至230萬枚左右，為三年多來的最低點。
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.
這一跡象通常被解讀為長期看漲。密碼交易所克拉肯(Kraken)最近的一份報告寫道：“交易所供應的減少通常意味着市場參與者正在將比特幣轉移到冷藏中，因為他們認為在可預見的未來會出現增量上漲。”
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。根據這份報告，市場參與者可能正在“將資金轉移到借貸平台上，進行點對點銷售，或者在其他區塊鏈上標記化他們的BTC”。
India's potential crypto ban
印度潛在的密碼禁令
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.
根據印度議會週二的公告，政府計劃在11月29日開始的議會冬季會議上提出一項法案，該法案旨在為印度官方數字貨幣的創建建立一個框架。
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.
公告稱，該法案還尋求禁止印度所有私人加密貨幣，但將允許“某些例外情況，以促進加密貨幣的基礎技術及其使用”。
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."
研究網站DailyFX的首席策略師約翰·基克萊特(John Kicklight)在給MarketWatch的一封電子郵件中寫道，“法案的措辭不是特別清楚，但只做多的投機利益的密度自然會讀出與任何監管相關的風險。”
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."
加密對衝基金ARK36的執行董事米克爾·莫爾奇(Mikkel Morch)寫道：“有趣的是，這種情況確實突顯了這樣一個事實，即加密貨幣在全球範圍內的採用速度如此之快，也給政府和金融監管機構帶來了一系列新的挑戰。”
Crypto companies, funds
密碼公司、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.
在與密碼相關的公司新聞方面，Coinbase的股價週五上午下跌了4%，至299.6美元。過去五個交易日累計下跌7%。邁克爾·塞勒的微戰略公司(MicroStrategy Inc.)週五早盤下跌4.7%，至669美元。過去五天累計下跌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.
礦業公司Riot Block Chain Inc.股價下跌4.4%，至35美元，過去五個交易日上漲4.3%。馬拉松數字控股公司(Mara)股價暴跌7.4%，至48.5美元，導致過去五個交易日累計下跌5.4%。另一家礦商億邦國際(EBON)暴跌9.8%，報1.51美元，過去五個交易日累計下跌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.上漲1.6%，至94.3美元，而過去五個交易日下跌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.股價小幅下跌1.4%，至213.1美元，過去五個交易日累計下跌7.3%。特斯拉(Tesla Inc.)股價下跌2.8%，至1,086美元，過去五個交易日累計下跌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微幅上漲1.3%，至191美元，過去五個交易日累計下跌4.8%；英偉達(NVIDIA Corp.)下跌1.62%，至321.5美元，過去五個交易日累計上漲1.38%。
Advanced Micro Devices Inc. (AMD) went down 0.53% to $157 and notched a 1.8% return over the past five days.
美國超微公司股價下跌0.53%，至157美元，過去五個交易日的回報率為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.
在基金領域，ProShares比特幣策略ETF(Bito)週五上午下跌5%，至34.7美元，Valkyrie比特幣策略ETF(BTF)下跌5.2%，至21.4美元。Vaneck比特幣策略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.
灰度比特幣信託(GBTC)下跌4.6%，報44.3美元，過去五天累計下跌4.2%。
-Frances Yue
--弗朗西斯·餘(Frances Yue)
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