美國最近10年的財政收益率上升，導致比特幣躍升至45,000美元以上

最近，美國10年的財政收益率越來越高，超過4.54％。金融領域的許多人注意到這一重大上升

Recently, the US 10-year Treasury yield has seen a jump, going above 4.54%. This substantial rise in interest rates has sparked reactions in the financial field, particularly from Arthur Hayes, an industry figure. Hayes has pointed out the significant changes in Bitcoin pricing, which could immediately drive regulators or central banks to adopt new measures.

最近，美國10年的財政收益率越來越高，超過4.54％。利率的大幅上升引發了金融領域的反應，尤其是來自行業數字的亞瑟·海斯（Arthur Hayes）。海斯指出，比特幣定價的重大變化，這可能會立即驅動監管機構或中央銀行採取新措施。

This is because the yield moves observed could lead to higher volatility according to the MOVE Index. The sudden rise in interest rates indicates that more investors now expect higher inflation and are therefore expecting US rate hikes. When the economy weakens, it tends to lead consequently to higher borrowing rates. Greater interest rates as a result of higher yields can lower economic growth.

這是因為觀察到的產量移動可能會導致較高的波動率，該移動指數的波動性。利率的突然上升表明，現在有更多的投資者期望通貨膨脹率更高，因此預計美國的利率會漲幅。當經濟削弱時，它往往會導致更高的借貸率。由於較高的收益率，更高的利率可以降低經濟增長。

As a result of this scenario, investors often adjust their investments into riskier markets which can include cryptocurrency. The “Brrrrr” that Hayes uttered means he is concerned about how volatility in markets might lead to problems in various assets.

由於這種情況，投資者經常將其投資調整為風險更高的市場，其中可能包括加密貨幣。海斯說的“ Brrrrr”意味著他擔心市場上的波動可能會導致各種資產問題。

Bitcoin and Crypto Markets React to Yield Volatility

比特幣和加密市場對產生波動的反應

A rise in US Treasury yields has led to significant changes in Bitcoin’s price. Bitcoin has had huge changes in price at the beginning of the week. This has indicated how this type of asset responds to outside events. With this level of uncertainty, we can see that changes in traditionally traded financial assets can cause major reactions in cryptocurrency markets.

美國財政收益率的上升導致比特幣價格發生了重大變化。比特幣在本周初的價格發生了巨大變化。這表明這種類型的資產如何響應外部事件。由於這種不確定性，我們可以看到傳統交易的金融資產的變化可能會導致加密貨幣市場的重大反應。

Changes in the price of Bitcoin are caused by adjustments in investor risk. An increase in the yields of bonds usually makes placing money in speculative assets less appealing. Some investors may reduce their investment in crypto if the rewards become higher due to its higher risk. As a result, its price may tend to fluctuate. Even so, Elon Musk and others have helped promote some altcoins which adds even more uncertainty to the market.

比特幣價格的變化是由投資者風險調整引起的。債券收益率的提高通常會使投機資產中的資金降低。如果獎勵由於較高的風險而變得更高，一些投資者可能會減少對加密貨幣的投資。結果，其價格可能會波動。即便如此，埃隆·馬斯克（Elon Musk）和其他人也有助於推廣一些山寨幣，從而增加了市場的不確定性。

Understanding the Impact of US Yields on Cryptocurrency

了解美國對加密貨幣的影響

The interest rates set by the US Treasury are watched by investors around the globe and used as a gauge for global rates. When interest rates are high due to higher yields, both economic activity and companies’ profits are affected. Because of this, people tend to shift their investment plans from riskier assets such as stocks, to more secure assets such as bonds. As cryptocurrencies are neither widely used nor stable yet, they are readily influenced by changes.

美國財政部設定的利率由全球投資者監視，並用作全球利率的規格。當利率由於較高的收益率而高的利率時，經濟活動和公司的利潤都會受到影響。因此，人們傾向於將投資計劃從股票等風險的資產轉移到更安全的資產，例如債券。由於加密貨幣尚未廣泛使用也不穩定，因此很容易受到變化的影響。

As more profit can be achieved through yield farming, many investors may prefer to leave cryptocurrencies and seek their returns elsewhere. Since fixed income provides greater returns, investors might prefer it to crypto in the short term. Alternatively, some investors claim that Bitcoin is a good protection against inflation and rate increases because its supply is limited.

由於可以通過產量耕種獲得更多的利潤，因此許多投資者可能更喜歡離開加密貨幣並在其他地方尋求回報。由於固定收益提供了更多的回報，因此在短期內，投資者可能更喜歡它而不是加密貨幣。另外，一些投資者聲稱，比特幣是一種很好的保護，可以防止通貨膨脹和利率提高，因為其供應有限。

Notably, if there is greater volatility in bond markets, as seen in the MOVE Index, it can influence crypto markets as well. This could trigger a change in cryptocurrency prices.

值得注意的是，如果在移動指數中看到的債券市場的波動性更大，它也會影響加密市場。這可能會觸發加密貨幣價格的變化。

The increased interest rates on US Treasuries have reached both old and new markets. This suggests how connected these markets are now. Even if Bitcoin prices drop due to high yields, the argument that it is a reliable store of value gives it more long-term potential. People who invest in crypto should regularly observe these indicators. This is because they will continue to have an important part to play in the industry in the upcoming months.

美國國債的利率提高到了新舊市場。這表明這些市場的聯繫如何。即使比特幣價格由於高收益而下跌，它是可靠的價值存儲的論點也會帶來更長期的潛力。投資加密的人應定期觀察這些指標。這是因為他們將在接下來的幾個月中繼續在該行業中發揮重要作用。