儘管經濟前景嚴峻，但比特幣表現出彈性，兌美元匯率增長了3.31％

儘管在昨天第一季度的負GDP印刷品上，比特幣表現出令人驚訝的彈性，儘管對美國經濟的看法嚴峻。短暫浸入後

Despite the bleak outlook for the U.S. economy following yesterday’s negative GDP print for the first quarter, Bitcoin has shown surprising resilience.

儘管在昨天第一季度負面的GDP印刷後，美國經濟的前景黯淡，比特幣表現出令人驚訝的彈性。

After briefly dipping to the $92,000 range immediately after the news broke, BTC quickly rebounded and regained momentum throughout the day. It is now trading at $96,136 on CoinMarketCap, defying expectations of a prolonged downturn.

在新聞發布後，短暫浸入了92,000美元的銷量之後，BTC迅速反彈並恢復了全天的勢頭。現在，CoinMarketCap的交易價格為96,136美元，無視對延長衰退的期望。

While many anticipated that a poor GDP reading would negatively impact the digital asset, Bitcoin actually managed to gain 3.31% against the U.S. Dollar since yesterday morning. This performance opens up the conversation about whether Bitcoin is finally establishing itself as a hedge against economic downturns.

儘管許多人預計差的GDP讀數會對數字資產產生負面影響，但比特幣自昨天早上以來實際上贏得了3.31％的股價。這種表演開啟了關於比特幣是否最終將自己建立為對沖經濟低迷的對話。

We all know the drill: BTC’s limited supply of 21 million tokens and incredible demand make it a highly sought-after asset. Akin to the physical asset gold, Bitcoin is built to serve as a store of value that, in theory, should hold on to value in times of economic uncertainty.

我們都知道這項演習：BTC有限的2100萬個令牌和令人難以置信的需求使其成為備受追捧的資產。比特幣類似於物理資產黃金，其建造是一種價值存儲，從理論上講，在經濟不確定性時期應該保持價值。

However, that hasn’t necessarily happened in the past. The last time the U.S. saw a poor quarterly GDP print was in July 2022. Back then, BTC dropped 8.76% in a week and later crashed further, losing 15% in just 22 days.

但是，這不一定發生在過去。美國最後一次看到季度GDP的打印量是在2022年7月。當時，BTC一周內下降了8.76％，後來進一步墜毀，在短短22天內損失了15％。

This time, however, the story appears to be different. Despite recession fears in the world’s largest economy, Bitcoin not only held its value but even gained. But why is that?

但是，這次故事似乎有所不同。儘管經濟衰退對世界上最大的經濟體有擔憂，但比特幣不僅具有其價值，而且還獲得了。但是為什麼？

Perhaps, the talk of Bitcoin hedge is no longer just theory. This idea could be reinforced by the significant increase in institutional adoption we’ve seen over the past year. Companies like Microstrategy and Metaplanet have continued to stockpile Bitcoin, treating it as a financial safeguard amid growing economic uncertainty. Their aggressive accumulation signals that major players increasingly view BTC as a hedge, much like gold has historically been for traditional markets.

也許，對比特幣對沖的話題不再只是理論。我們過去一年中看到的機構採用大幅提高可以加強這一想法。像MicroStrategy和Metaplanet這樣的公司繼續儲存比特幣，將其視為經濟不確定性日益嚴重的財務保障。他們積極的積累信號表明，主要參與者越來越多地將BTC視為對沖，就像黃金歷史上對傳統市場一樣。

Meanwhile, governments are beginning to follow suit. Arizona is close to formalizing its Bitcoin reserve, with legislation that would allow the state to allocate up to 10% of public funds into digital assets. This move could mark a major shift in Bitcoin’s role at the state level, potentially paving the way for other governments to adopt similar strategies.

同時，政府開始效仿。亞利桑那州接近正式化其比特幣儲備，該法規將允許該州將多達10％的公共資金分配給數字資產。這一舉動可能標誌著比特幣在州一級角色的重大轉變，可能為其他政府採用類似策略鋪平了道路。

Beyond Arizona, reports suggest that other jurisdictions, from municipal governments to international entities, are exploring BTC reserves as a way to diversify holdings and reduce reliance on fiat currencies.

除亞利桑那州以外，報告表明，從市政府到國際實體的其他司法管轄區正在探索BTC儲備，以此作為使持股和減少對法定貨幣的依賴的一種方式。

The real test however, will come in just 6 days. At the next Federal Open Market Committe meeting, the Federal Reserve will determine the next interest rate decision for the U.S. economy. Unless Chairman Jerome Powell has suddenly taken up skydiving and a liking for other risky activities, cutting rates amid what could be the start of a recession would be highly uncharacteristic of him.

但是，真正的測試將在短短6天內出現。在下屆聯邦公開市場委員會會議上，美聯儲將確定美國經濟的下一個利率決定。除非董事長杰羅姆·鮑威爾（Jerome Powell）突然參加了跳傘運動並喜歡其他風險活動，否則在經濟衰退的開始時，削減速度將是他的高度不明智主義。

When this happens, Bitcoin should logically feel the impact—especially with investors reassessing liquidity conditions and risk appetite. However, if BTC manages to maintain its strength against the U.S. dollar despite the rate cut, it would provide even stronger support for the narrative that Bitcoin is evolving into a true hedge asset.

發生這種情況時，比特幣應該從邏輯上感受到影響，尤其是投資者重新評估流動性條件和風險食慾。但是，如果BTC儘管降低了利率，但BTC設法維持其對美元的實力，它將為比特幣不斷發展成為真正的對沖資產的敘述提供更強有力的支持。