隨著降息預期復甦，比特幣飆升

疲弱的消費者通膨和零售銷售數據引發了對聯準會早期降息的猜測，比特幣和以太幣因積極的市場情緒而飆升。全球市值最大的加密貨幣比特幣上漲 3.7% 至 64,000 美元，而以太幣上漲 2% 至 2,950 美元。該報告增加了 7 月降息的可能性，提振了投資者對加密貨幣市場的信心。

Bitcoin Surges on Renewed Rate Cut Expectations

降息預期重燃，比特幣飆升

New York, May 11, 2023 - Bitcoin (BTC-USD) experienced a significant surge in value on Wednesday, fueled by positive economic data that bolstered expectations of potential interest rate cuts by the Federal Reserve (Fed) later this year.

紐約，2023 年 5 月 11 日 - 週三，比特幣 (BTC-USD) 的價值大幅飆升，受到積極的經濟數據的推動，這些數據增強了美聯儲 (Fed) 在今年晚些時候可能降息的預期。

At 10:18 a.m. ET, the world's largest digital currency by market capitalization jumped by 3.7% to $64,000. Ether (ETH-USD), the second-largest cryptocurrency, also gained traction, rising 2% to $2,950.

美國東部時間上午 10:18，全球市值最大的數位貨幣上漲 3.7%，至 64,000 美元。第二大加密貨幣以太幣 (ETH-USD) 也受到關注，上漲 2% 至 2,950 美元。

The rally was triggered by softer-than-expected reports on consumer inflation and retail sales. The U.S. Consumer Price Index (CPI) showed a modest deceleration in April on a month-over-month basis, raising hopes that inflationary pressures may be easing. However, analysts cautioned that certain categories within the CPI, such as shelter and services, remain elevated.

此次上漲是由消費者通膨和零售銷售報告弱於預期引發的。 4月美國消費者物價指數（CPI）環比小幅放緩，增加了人們對通膨壓力可能緩解的希望。然而，分析師警告稱，消費者物價指數中的某些類別，例如住房和服務，仍處於較高水平。

Retail sales, meanwhile, remained flat in April, following downwardly revised increases in the previous two months. Despite these mixed signals, the reports boosted traders' confidence in the likelihood of a rate cut by the Fed.

同時，繼前兩個月的成長下修後，4 月零售額仍持平。儘管存在這些混雜的訊號，但這些報告增強了交易者對聯準會降息可能性的信心。

According to the CME FedWatch tool, the probability of a 25-basis-point rate cut in July increased to 28.3% on Wednesday, up from 26.4% the previous day. Markets also assigned a slightly higher probability to a rate cut in September.

CME FedWatch工具顯示，週三7月降息25個基點的可能性升至28.3%，高於前一天的26.4%。市場也認為 9 月降息的可能性略高。

The prospect of lower interest rates is typically viewed as favorable for risky assets, including cryptocurrencies. Lower interest rates make it more attractive for investors to hold these assets, as they offer higher returns compared to traditional fixed-income investments.

較低利率的前景通常被認為有利於包括加密貨幣在內的風險資產。較低的利率使投資者持有這些資產更具吸引力，因為與傳統的固定收益投資相比，它們提供更高的回報。

Galaxy Digital's Mike Novogratz, a prominent cryptocurrency investor, believes that the recent rally in Bitcoin and Ether is likely to continue within a relatively narrow trading range. He cited the ongoing geopolitical uncertainty and a lack of major developments in the cryptocurrency ecosystem as factors that may limit the upside potential in the short term.

Galaxy Digital 的 Mike Novogratz 是一位著名的加密貨幣投資者，他認為比特幣和以太幣近期的上漲可能會在相對狹窄的交易區間內持續下去。他指出，持續的地緣政治不確定性和加密貨幣生態系統缺乏重大發展是可能限制短期上行潛力的因素。

The positive sentiment in the cryptocurrency market was reflected in the performance of crypto-related stocks. MicroStrategy (MSTR) surged by 5.6%, Coinbase (COIN) gained 2.6%, Riot Platforms (RIOT) rose by 1.1%, Marathon Digital (MARA) climbed 1.7%, Bitfarms (BITF) jumped 5.3%, and Hut 8 (HUT) advanced by 5.5%.

加密貨幣市場的正面情緒反映在加密貨幣相關股票的表現。 MicroStrategy (MSTR) 飆升 5.6%，Coinbase (COIN) 上漲 2.6%，Riot Platforms (RIOT) 上漲 1.1%，Marathon Digital (MARA) 上漲 1.7%，Bitfarms (BITF) 上漲 5.3%，Hut 8 (HUTut 5.5% 。

Fed Chair Jerome Powell has previously indicated that the central bank would require at least one quarter of favorable inflation data before considering a change in its policy stance. Wednesday's CPI report may not be sufficient to meet this threshold, but it has certainly raised market optimism.

聯準會主席鮑威爾先前曾表示，央行將需要至少四分之一的有利通膨數據才能考慮改變政策立場。週三的CPI報告可能不足以達到這一門檻，但它無疑提升了市場的樂觀情緒。

The positive economic data also had a positive impact on the broader stock and bond markets. Major stock indices moved higher, while bond yields tumbled. The 10-year Treasury yield fell below 3%, reflecting the market's expectations of lower interest rates in the future.

積極的經濟數據也對更廣泛的股票和債券市場產生了積極影響。主要股指走高，債券殖利率下跌。 10年期公債殖利率跌破3%，反映出市場對未來降息的預期。

Analysts remain cautious about the sustainability of the recent rally in cryptocurrencies. They warn that the market is still vulnerable to volatility and that geopolitical headwinds and regulatory uncertainties could weigh on sentiment in the months ahead. Nevertheless, Wednesday's surge has provided a much-needed boost to the cryptocurrency ecosystem, signaling renewed optimism among investors.

分析師對近期加密貨幣上漲的可持續性仍持謹慎態度。他們警告說，市場仍然容易受到波動的影響，地緣政治阻力和監管不確定性可能會在未來幾個月影響市場情緒。儘管如此，週三的飆升為加密貨幣生態系統提供了急需的推動力，表明投資者重新燃起樂觀情緒。