比特幣（BTC）正在進入一段波動性，因為宏觀效果與短期集會保持一致，達到111,000美元

宏觀因素，包括潛在的美國 - 中國貿易協議和比預期的通貨膨脹數字，以支持另一個比特幣（BTC）盟友。

Macro factors are aligning for another Bitcoin (BTC) rally, in the short-term, to $111,000, as Jag Kooner, Head of Derivatives at Bitfinex, has shared.

宏因素在短期內將另一個比特幣（BTC）拉力賽保持一致，達到111,000美元，因為Bitfinex的衍生產品負責人Jag Kooner共享。

A potential agreement between the U.S. and China could help reduce uncertainty and boost market sentiment, according to Kooner. However, he believes that the optimism may already be priced in, meaning the immediate impact on markets could be minimal.

庫納說，美國和中國之間的潛在協議可以幫助減少不確定性並促進市場情緒。但是，他認為樂觀情緒可能已經被定價，這意味著對市場的直接影響可能很小。

Instead, the most likely near-term effect is increased volatility. The same applies to the latest inflation reading, which went up just 0.1% on a monthly basis. Together, these developments suggest that Bitcoin may be setting up for significant price action in the near future, Jag Kooner said.

相反，最可能的近期效應是增加的波動性。最新通貨膨脹率也適用，每月僅上漲0.1％。 Jag Kooner說，這些發展共同表明，比特幣可能會在不久的將來為重大的價格行動設置。

“Core CPI up 0.1% m/m firms up rate cut bets, compresses real yields, and creates a vacuum above $111K for bitcoin. That move would likely be spot-driven, with ETF demand accelerating as the macro regime shifts toward easing,” Jag Kooner, Bitfinex.

“核心CPI上漲0.1％m/m的公司提高速度降低賭注，壓縮實際收益率，並為比特幣產生了超過111k美元的真空吸引力。這一舉動很可能是聚焦的，隨著ETF需求的加速，隨著宏觀政權向輕鬆降低，ETF的需求加速了，” Jag Kooner，Bitfinex。

Bitcoin to reach $111K: Bitfinex analyst

比特幣達到$ 111K：Bitfinex分析師

Lower inflation could increase the likelihood that the Federal Reserve will cut interest rates, potentially giving Bitcoin a boost. According to Jag Kooner, this theme could dominate crypto market sentiment over the next two weeks, possibly pushing Bitcoin toward $111,000, close to its all-time high.

通貨膨脹率降低可能會增加美聯儲降低利率的可能性，從而有可能增強比特幣。根據Jag Kooner的說法，這個主題可能在接下來的兩週內主導加密市場的情感，這可能會將比特幣轉移到111,000美元，接近其歷史最高水平。

“BTC’s tight correlation with the S&P 500 (30D r ~0.63) reveals its current role as a liquidity barometer rather than a volatility hedge. This correlation makes BTC highly sensitive to SPX range-bound conditions, and until the index breaks out, BTC’s upside remains constrained,” Jag Kooner, Bitfinex.

“ BTC與標準普爾500指數（30d R〜0.63）的緊密相關性揭示了其目前作為流動性晴雨表而不是波動性對沖的作用。這種相關性使BTC對SPX範圍內的條件高度敏感，並且在Index爆發之前，BTC的外交一直受到約束，” Jag Kooner，Bitfinex。

However, Bitcoin’s upside remains tied to stock market performance. The strong correlation with equities means that any breakout may depend on the S&P 500 moving out of its current range. If that happens, both Bitcoin and altcoins could move sharply higher, offering gains for crypto holders.

但是，比特幣的上升空間仍然與股票市場業績聯繫在一起。與股票的牢固相關性意味著任何突破都可能取決於標準普爾500指數從其當前範圍移出。如果發生這種情況，比特幣和山寨幣都可以急劇上升，從而為加密貨幣持有人帶來收益。