穆迪（Moody）將美國信用評級降低到AA1，結束了一個世紀的完美分數

穆迪（Moody）於2025年5月16日將美國的信用評級從AAA降低到AA1，理由是長期財政惡化。降級結束了一個世紀的時代

Moody’s downgraded the United States credit rating from Aaa to Aa1 on Monday, ending a century-long era in which the country held a perfect score from all major agencies. The downgrade, which follows downgrades by S&P in 2011 and Fitch earlier in 2023, leaves the country without a top-tier score for the first time since the rating system began.

穆迪週一將美國的信用評級從AAA降至AA1，結束了一個世紀的時代，該國在所有主要機構中都獲得了完美的成績。自2011年早些時候，降級在2011年和惠譽（S＆P）下降之後，自評級系統開始以來，該國首次離開該國沒有頂級得分。

The downgrade by Moody’s comes amid concerns over the ballooning U.S. public debt and the lack of a sustainable fiscal framework to counterbalance it.

穆迪（Moody's）的降級是因為人們擔心美國公共債務的激增以及缺乏可持續的財政框架來抵消它。

The agency pointed to soaring public debt, rising interest payments, and the lack of a sustainable fiscal framework.

該機構指出，公共債務飆升，利息支付的上升以及缺乏可持續的財政框架。

Data from the U.S. Department of the Treasury shows total public debt has now crossed $34.7 trillion.

美國財政部的數據顯示，總共債務現在已經超過34.7萬億美元。

The chart from FRED (Federal Reserve Economic Data) confirms a steep rise in debt starting around 2020, coinciding with pandemic-era stimulus packages.

弗雷德（Fred）（美聯儲經濟數據）的圖表證實，從2020年左右開始，債務急劇上升，與流行時代的刺激套餐相吻合。

The visual trend shows that between 2000 and 2020, debt levels increased steadily. However, post-2020, the pace turned exponential. By 2024, total federal debt approached the $34 trillion mark. As of Q2 2025, the trajectory remains upward, with no visible signs of slowing.

視覺趨勢表明，在2000年至2020年之間，債務水平穩定增長。但是，2020年後，速度轉向指數。到2024年，聯邦債務總數達到了34萬億美元。截至2025年第2季度，軌跡保持向上，沒有明顯的放緩跡象。

This downgrade coincides with a lack of agreement in Congress over a $3.8 trillion tax and spending proposal. Moody’s warned that if Trump-era tax cuts are extended without offsets, the annual deficit could reach 9% of GDP by 2035.

這降級與國會對3.8萬億美元的稅收和支出提案缺乏協議相吻合。穆迪警告說，如果在沒有偏移的情況下延長特朗普時代的減稅措施，到2035年，年度赤字可能會達到GDP的9％。

Markets reacted swiftly. US Treasury yields increased, reflecting concerns about long-term borrowing costs. Equity futures dipped following the news.

市場反應迅速。美國財政收益率增加，反映了對長期借貸成本的擔憂。新聞後，股票期貨下跌。

The White House dismissed the rating action, stating it was politically motivated, but did not release additional policy guidance or counter-data.

白宮駁回了評級行動，稱這是出於政治動機，但沒有釋放其他政策指導或反數據。

Moody’s also flagged systemic risks in the federal budget structure. Without substantial policy changes, the agency warned that debt servicing costs will consume a larger share of the national budget, making fiscal reform harder in the future.

穆迪還在聯邦預算結構中標記了系統性風險。如果沒有實質性的政策變化，該機構警告說，債務服務成本將消耗更大的國家預算份額，從而使財政改革將來變得更加艱難。

This downgrade does not change existing bond terms, but it does affect borrowing costs and investor sentiment. US sovereign debt is still considered safe globally, but the absence of a triple-A rating from all agencies may prompt reassessments in global fixed-income portfolios.

該降級不會改變現有的債券條款，但確實會影響借貸成本和投資者的情緒。美國主權債務在全球範圍內仍然被認為是安全的，但是所有機構的缺乏三重評級可能會引起全球固定收益投資組合的重新評估。

Bitcoin Supply on Exchanges Hits New Lows, Mirroring Rising Holder Confidence

交換上的比特幣供應命中新的低點，反映了上升的持有人的信心

Between April 17 and May 2, Bitcoin supply on exchanges dropped from 1.47 million to 1.42 million BTC, according to data from on-chain analytics firm Santiment. The figure briefly increased to 1.43 million BTC by May 7, but the upward movement was short-lived.

根據鏈分析公司Santiment的數據，在4月17日至5月2日之間，交易所的比特幣供應從147萬降至142萬BTC。到5月7日，該數字短暫增加到了143萬BTC，但向上移動是短暫的。

As of May 17, 2025, the supply has fallen again to 1.41 million BTC, marking a fresh local low in exchange balances. This drop comes despite recent price fluctuations, with Bitcoin price hovering around $103,000, as shown in the same data set.

截至2025年5月17日，供應再次下降到141萬BTC，標誌著當地新鮮的交換餘額。儘管最近價格波動，但這種下降仍會出現，比特幣價格徘徊在103,000美元左右，如相同的數據集所示。

The chart from Santiment shows a steady decline in red (exchange supply) against a rising green line (BTC price), particularly from late April through mid-May. The divergence between exchange balances and market price often signals growing investor preference for self-custody.

Santiment的圖表顯示，紅色（Exchange Supply）的綠線（BTC價格）穩定下降，尤其是從4月下旬至5月中旬。交換餘額與市場價格之間的差異通常表示增加投資者對自我顧客的偏好。

When traders reduce their holdings on exchanges, it suggests a shift from short-term speculation toward longer-term storage. Such behavior reduces immediate sell pressure, especially during uncertain macroeconomic conditions.

當交易者減少交易所的持股量時，這表明從短期投機向長期存儲轉變。這種行為降低了立即銷售壓力，尤其是在不確定的宏觀經濟條件下。

The chart also shows that this trend has remained consistent even after Bitcoin crossed above the $100,000 mark. While price movements continue to fluctuate in a narrow range, lack of significant shifts in either direction suggests traders may be choosing to wait rather than sell at current levels.

該圖表還顯示，即使比特幣超過100,000美元，這種趨勢仍然保持一致。儘管價格變動繼續在狹窄的範圍內波動，但任何一個方向都缺乏重大變化，表明交易者可能選擇等待而不是在當前水平上出售。

This current figure—1.41 million BTC on exchanges—represents the lowest level since early April. Previous resistance levels in this metric have now shifted downward, reflecting broader caution across both retail and institutional holders.

這一目前的數字（141萬BTC在交流方面）是自4月初以來最低的水平。現在，該指標的先前抵抗水平已經下降，反映了零售和機構持有人的更加謹慎。

Such movements are often tracked for broader market structure analysis. Declining exchange balances are usually observed during accumulation phases, signaling that fewer coins are immediately available to sell on spot markets at market prices.

通常跟踪此類運動以進行更廣泛的市場結構分析。通常在積累階段觀察到交換餘額下降，這表明立即以市場價格在現貨市場上出售的硬幣更少。

However, it's crucial to note that these observations alone do not predictably determine future price trends. Instead, these changing supply dynamics form one key part of the broader picture in tracking overall investor behavior.

但是，至關重要的是要注意，僅這些觀察結果並不能預測決定未來的價格趨勢。取而代之的是，這些不斷變化的供應動態構成了跟踪整體投資者行為的更廣泛圖片的一部分。

Bitcoin Price Tracks $103K as Ichimoku Cloud Stays Flat

比特幣價格軌跡$ 103K，因為Ichimoku Cloud保持平坦

Bitcoin is trading at $103,246 on Thursday, May 17, according to a 4-hour chart from TradingView. The Ichimoku Cloud indicator shows a consolidation phase with no clear breakout signal in sight.

根據TradingView的4小時圖表，比特幣在5月17日星期四的交易價格為103,246美元。 Ichimoku雲指示器顯示了一個合併階段，沒有明確的突破信號。

The Kijun-sen line (red) sits at $103,241, closely aligned with the current price. This flat position signals a balanced market, with neither buyers nor sellers dominating. The price has moved sideways along

Kijun-Sen Line（RED）的價格為103,241美元，與當前價格緊密相符。這個平坦的位置標誌著平衡市場，買賣雙方都沒有主導。價格向側面移動