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在S＆P和Fitch之后，穆迪将美国的信用评级从AAA降低到AA1。主要问题是由于财政赤字的持续扩展

The U.S. bids farewell to the top credit rating club, and the U.S. stock market rebound may end

美国向顶级信用评级俱乐部告别，美国股市反弹可能会结束

As expected, Moody's downgraded the U.S. credit rating from Aaa to Aa1, following S&P and Fitch. The main concern is the continued expansion of the fiscal deficit - the federal deficit as a percentage of GDP is expected to rise from 6.4% in 2024 to nearly 9% in 2035. The rising debt interest, increased welfare spending and insufficient tax revenue have formed a triple squeeze. The political deadlock has further exacerbated the fiscal dilemma. The House Budget Committee failed to pass Trump's tax reform plan with a cost of $3.8 trillion, and the draft budget shows that most of the increase in the deficit over the next decade will come from the extension of the Tax Cuts and Jobs Act.

正如预期的那样，穆迪（Moody）在标准普尔（S＆P）和惠誉（S＆P）和惠誉（Fitch）之后将美国的信用评级从AAA降低到AA1。主要问题是财政赤字的持续扩张 - 预计GDP的一定百分比将从2024年的6.4％上升到2035年的近9％。债务利息的上升，福利支出的增加和税收不足，已经形成了三重挤压。政治僵局进一步加剧了财政困境。众议院预算委员会未能以3.8万亿美元的成本通过特朗普的税收改革计划，而预算草案表明，未来十年赤字的大部分增加将来自《减税和就业法》的延长。

The thinking of the rating agency is clear: the U.S. is sliding towards more debt and lower solvency, and it's time to downgrade. However, this move will likely have limited impact on markets in the short term. Firstly, the downgrade was widely anticipated and priced into the market. Since March, yields on U.S. Treasuries have risen sharply, especially on the long end. This indicates that market participants are already reacting to the deteriorating fiscal outlook and baking it into asset prices. Secondly, despite the downgrade, Moody's still expects the U.S. to fully repay its debt, which minimizes the solvency risk. Finally, the rating agency also highlighted the strengths of the U.S. economy, such as its diverse institutions, high productivity and flexible labor market.

评级机构的思想很明确：美国正在朝着更多的债务和较低的偿付能力迈进，现在该降级了。但是，这一举动在短期内可能会对市场产生有限的影响。首先，降级被广泛预期并定价进入市场。自3月以来，美国国库的收益率急剧上升，尤其是在长期内。这表明市场参与者已经对不断恶化的财政前景做出了反应，并将其烘烤为资产价格。其次，尽管降级了，穆迪仍然希望美国完全偿还其债务，从而最大程度地减少了偿付能力风险。最后，评级机构还强调了美国经济的优势，例如其多样化的机构，高生产力和灵活的劳动力市场。

In contrast to the bleak fiscal outlook, the U.S. economic data this week were mixed but largely better than expected. Consumer price index (CPI) inflation rose slightly less than expected in April, continuing the trend of sticky inflation. This may put pressure on the Federal Reserve to keep interest rates higher for longer. However, the University of Michigan's final May reading of the consumer sentiment index fell short of expectations, signaling that consumer confidence may be waning. This could pose a risk to future economic growth.

与荒凉的财政前景相反，本周的美国经济数据混合在一起，但大大好于预期。消费者价格指数（CPI）通货膨胀率略低于4月的预期，延续了通货膨胀的趋势。这可能会对美联储的压力持续更长的时间，以使利率更高。但是，密歇根大学对消费者情绪指数的五月读取期望不足，这表明消费者的信心可能正在减弱。这可能会给未来的经济增长带来风险。

In the cryptocurrency market, Bitcoin broke through the $107,000 mark this morning, and it only needs to rise 2.42% further to reach its all-time high of $109,800. As such, many crypto traders are expecting Bitcoin to hit a new all-time high today.

在加密货币市场中，比特币今天早上打破了107,000美元的分数，它只需要进一步上涨2.42％即可达到其历史最高点109,800美元。因此，许多加密货币交易者预计比特币今天将达到新的历史最高水平。

According to American crypto analyst Alan, who is known for his bold predictions, Bitcoin is expected to break its all-time high in the next few days, with a target price of $116,000. He claims that the thinking of large institutions and hedge funds, which control a large portion of the market, will determine the direction of the market. Currently, these institutions are bullish on Bitcoin, and they are likely to drive its price up to reach new highs.

据美国加密分析师艾伦（Alan）表示，他以其大胆的预测而闻名，比特币预计将在未来几天打破其历史最高水平，目标价为116,000美元。他声称，控制大部分市场的大型机构和对冲基金的思想将决定市场的方向。目前，这些机构对比特币看涨，它们可能会推动其价格提高到新高。

American billionaire investor Tim Draper continues to increase his holdings of Bitcoin. In a recent interview, Draper said that he prefers to invest in cryptocurrencies over the stock market because he believes in the future of blockchain technology. He predicts that Bitcoin's price will rise to $250,000 this year, and he is optimistic about the long-term value of cryptocurrencies.

美国亿万富翁投资者蒂姆·德雷珀（Tim Draper）继续增加他对比特币的持股。德雷珀（Draper）在最近的一次采访中说，他更喜欢在股票市场上投资加密货币，因为他相信区块链技术的未来。他预测，今年比特币的价格将上涨至25万美元，他对加密货币的长期价值感到乐观。

Robert Kiyosaki, author of the bestseller "Rich Dad Poor Dad", also expressed his bullish view on Bitcoin. He predicts that Bitcoin will rise to $250,000 this year due to the failure of the U.S. dollar and the global economy. He advises people to sell their stocks and invest in cryptocurrencies, gold, and silver.

畅销书《富有爸爸爸爸》的作者罗伯特·基亚萨基（Robert Kiyosaki）也表达了他对比特币的看涨看法。他预测，由于美元和全球经济的失败，今年比特币将上涨至25万美元。他建议人们出售股票并投资加密货币，黄金和白银。

Crypto analyst Scott Melker believes that with the participation of traditional financial institutions such as pension funds and ETF issuers, the Bitcoin market is becoming more mature and stable. Its volatility has dropped from three times the S&P 500 index in the past to less than two times, making it less risky than investing in the stock market. He predicts that the current price of Bitcoin could rise another 2.5 times to reach $250,000.

加密分析师斯科特·梅尔克（Scott Melker）认为，随着养老基金和ETF发行人等传统金融机构的参与，比特币市场变得越来越成熟和稳定。它的波动率从过去的三倍的标准普尔500指数下降到不到两次，这比在股票市场上投资的风险较小。他预测，当前比特币的价格可能会再上涨2.5倍，达到25万美元。

As for Ethereum, its price fell back to below $2,400 after breaking through $2,700, and more than $200 million in long orders were liquidated in the past 24 hours. However, market technical analysis shows that Ethereum prices are still in a bullish flag pattern, and if it breaks through the current resistance level, the target price may point to $3,700. According to the weekly stochastic relative strength index, Ethereum still has the potential to rise further.

至于以太坊，它的价格跌至2,700美元后，回到了2,400美元以下，在过去的24小时内清算了超过2亿美元的长期订单。但是，市场技术分析表明，以太坊价格仍处于看涨的旗帜模式，如果它突破了当前的阻力水平，目标价格可能会指向3,700美元。根据每周的随机相对强度指数，以太坊仍然有可能进一步上升。

According to the analysis of Titan of Crypto, the stochastic relative strength index shows that although the price of Ethereum has dropped rapidly this week, it is

根据对加密泰坦的分析，随机相对强度指数表明，尽管以太坊的价格本周迅速下降，但这是