正在進行的加密價格恢復可以歸因於一群被稱為債券警惕者的投資者

正在進行的加密價格恢復可以歸因於一群被稱為債券警惕者的投資者，這是經濟學家Ed Yardeni創造的這個詞。

A group of investors, often referred to as bond vigilantes, are keeping the government in check by selling bonds whenever there is a big policy change.

一群經常被稱為債券警惕者的投資者在發生巨大的政策變更時出售債券，使政府受到控制。

The term was popularized by economist Ed Yardeni,

該術語由經濟學家Ed Yardeni普及

These investors, in essence, sell their bond holdings when there is a significant policy change.

本質上，這些投資者在發生重大政策變更時出售其債券持股。

This pushes yields high and makes it expensive for the government to borrow.

這推動了很高的收益，使政府借貸變得昂貴。

The rally mirrored the stock market’s performance.

拉力賽反映了股票市場的業績。

U.S. stock indices, such as the Dow Jones and the Nasdaq 100, have all jumped by over 10% from their monthly lows.

美國股票指數，例如道瓊斯瓊斯和納斯達克100號，都從每月低點躍升了10％以上。

International indices like the German DAX and French CAC 40 have also jumped.

德國DAX和法國CAC 40等國際指數也躍升了。

Earlier this month, President Donald Trump applied the highest levies to China, but a baseline 10% tariff was applied across the board with additional reciprocal tariffs that vary by nation.

本月早些時候，唐納德·特朗普總統向中國提出了最高徵稅，但全面徵收了10％的基準關稅，並隨著國家而異。

But Trump blinked after so-called “bond vigilantes” sprung into action.

但是特朗普在所謂的“邦德警惕性”迅速採取行動後眨了眨眼。

Investors essentially sold off bonds to pressure the government to reverse course.

投資者本質上出售了債券，以迫使政府扭轉道路。

“The Bond Vigilantes have struck again,” wrote Yardeni. “As far as we can tell, at least with respect to U.S. financial markets, they are the only 1.000 hitters in history.”

Yardeni寫道：“邦德警惕者再次襲來。” “據我們所知，至少在美國金融市場方面，它們是歷史上僅有的1.000個擊球手。”

U.S. bond yields went higher, with the 10-year Treasuries hitting 4.585 percent and the 30-year retesting 5 percent for the first time since January.

美國的債券收益率更高，十年期的國債達到4.585％，自1月以來首次重新測試了30年。

The rising bond yields meant that the U.S. public debt servicing would go up.

債券收益率上升意味著美國的公共債務服務將上升。

Also, they meant that the president would likely fail in his plan for massive tax cuts.

另外，他們意味著總統可能會失敗他的大規模減稅計劃。

Significant unfunded tax cuts would have pushed bond yields higher.

明顯的無資金減稅將使債券收益率更高。

Trump commented on the bond market bluntly:

特朗普直言不諱地評論了債券市場：

“The bond market is very tricky. I was watching it.”

“債券市場非常棘手。我在看它。”

Crypto rallies

加密集會

Bitcoin (BTC) price rose and retested the important resistance at $95,000 for the first time in over a month.

比特幣（BTC）的價格上漲，並重新測試了一個多個月以來首次以95,000美元的價格重新測試。

Brett (BRETT), the biggest meme coin on the Base blockchain, jumped by 95 percent in the last seven days.

Brett（Brett）是基本區塊鏈上最大的模因硬幣，在過去的七天中躍升了95％。

Other top coins, such as Virtual Protocol (VIRTUAL), Official Trump (TRUMP), Sui (SUI), and Dogwifhat (WIF), have all jumped by over 50 percent in the last seven days.

其他頂級硬幣，例如虛擬協議（虛擬），官方特朗普（特朗普），SUI（SUI）和Dogwifhat（WIF），在過去的七天中，它們都增加了50％以上。

As a result, the market cap of all coins jumped to $3 trillion.

結果，所有硬幣的市值躍升至3萬億美元。

Bond vigilantes also contributed to Trump’s decision to abandon firing Jerome Powell from the Federal Reserve.

邦德警惕者還為特朗普決定放棄杰羅姆·鮑威爾從美聯儲解僱。

The U.S. president cannot legally remove the Fed chair without cause.

美國總統不能在沒有理由的情況下法律上卸下美聯儲椅子。

If the Supreme Court allowed such a move to stand, it would have led to a lack of confidence in U.S. bonds and the greenback.

如果最高法院允許這樣的舉動立場，那將導致對美國債券和綠色的信心缺乏信心。

It would have also likely pushed bond vigilantes to dump Treasuries again.

這也可能會推動邦德警惕者再次拋棄國庫。

Trump also hinted that he was ready to strike a deal with China, even though China denied talks were taking place.

特朗普還暗示，即使中國否認正在進行談判，他也準備與中國達成協議。

Therefore, crypto prices may continue to rise in the coming weeks as tariff risks ease, and the odds of Federal Reserve cuts increase.

因此，隨著關稅風險易於使用，加密價格可能會繼續上漲，美聯儲削減的機率增加。