比特币打破了纪录的高度，飙升至110,000美元

旗舰加密货币高达$ 109,693，即2.2％，然后放弃了一些收益降至108,000美元左右

The price of Bitcoin broke its record on Wednesday, climbing to just shy of $110,000 to eclipse the previous high from January as risk sentiment continues to improve after last month’s tariff-induced sell-off.

比特币的价格在周三打破了其记录，从一月份开始升至上一月的高点，攀升至110,000美元，因为在上个月的关税引起的抛售后，风险情绪不断提高。

The flagship cryptocurrency surged to as high as $109,693, or 2.2%, before giving up some of the gains to fall to around $108,000 at the close following concerns in the broader markets over rising Treasury yields, consumer headwinds and fiscal uncertainty in Washington.

旗舰加密货币飙升至109,693美元，即2.2％，然后在更广泛的市场上放弃了一些收益，以至于在更广泛的市场上关注的是，由于较广泛的市场担心，华盛顿州华盛顿州的债券收益率上升，消费者的逆风和费用不确定性。

Bitcoin’s surge capped a five-week rally fueled by institutional inflows, dollar weakness and optimism around regulatory clarity. The token is up more than 20% over that span.

比特币的激增限制了一个为期五周的集会，这是由于机构流入，美元的弱点和乐观范围所激发的。代币比该跨度增长了20％以上。

“Price action in Bitcoin looks outright bullish,” Chris Weston, head of research at Pepperstone, told Barron’s on Wednesday.

Pepperstone研究负责人克里斯·韦斯顿（Chris Weston）周三对巴伦（Barron）表示：“比特币的价格行动看起来完全看好。”

“If the pullbacks remain limited and well supported, then a new record high could come into play.”

“如果回调仍然有限且得到良好的支持，那么新的纪录高就可以发挥作用。”

In equity markets, the Dow dropped nearly 2% — or more than 700 points as of 2 p.m. ET — as investors digested a volatile mix of earnings, economic data and legislative wrangling. The Nasdaq and the S&P 500 also were down about 1%.

在股票市场中，随着投资者消化了收入，经济数据和立法争执的挥发性混合，道琼斯指数下降了近2％（截至美国东部时间下午2点）。纳斯达克和标准普尔500指数也下降了约1％。

Explore More

探索更多

Trump's 'big, beautiful bill' could force NY businesses to shell out billions more in taxes — here's why

特朗普的“大而美丽的账单”可能会迫使纽约企业更多地扣除数十亿美元的税收 - 这就是为什么

Ex-Kohl's CEO kept affair with live-in-lover a secret for years — and raised eyebrows promoting her coffee: report

前科尔的首席执行官多年来一直秘密与现场直播的秘密 - 并扬起了她的咖啡：报告

Report that UnitedHealth secretly paid nursing homes to cut hospital transfers sees stock plunge

报告说，联合健康秘密支付疗养院来减少医院转移，股票暴跌

The 30-year yield climbed above 5% again on Wednesday, while the benchmark 10-year rose to 4.54%, extending a global bond rout.

30年的收益率在周三再次上升到5％以上，而基准的10年期则增至4.54％，扩大了全球债券溃败。

Higher yields reflect expectations for more expensive borrowing, which could dampen both economic growth and equity performance.

较高的收益率反映了对更昂贵的借贷的期望，这可能会削弱经济增长和股票绩效。

Concerns are mounting over a tax-and-spending package championed by President Trump. The bill — which would extend and expand tax cuts — is forecast to widen budget deficits by about $3 trillion over a decade.

对特朗普总统拥护的税收和支出计划引起了人们的担忧。该法案将扩大和扩大减税措施 - 预计将在十年内将预算赤字扩大约3万亿美元。

Moody’s recently stripped the US of its final triple-A credit rating, exacerbating market worries and contributing to a spike in Treasury yields.

穆迪（Moody）最近剥夺了美国最终的三重信用评级，加剧市场的担忧，并促成了国库收益率的激增。

As risk sentiment erodes in traditional markets, investors are increasingly turning to Bitcoin as a haven asset.

随着传统市场中的风险情绪侵蚀，投资者越来越多地将比特币视为天堂资产。

“I am watching the global M2 money supply [the total amount of money circulating in the global economy] and dollar weakness/confidence,” Steven McClurg, CEO of Canary Capital, told The Post via email.

Canary Capital首席执行官史蒂芬·麦克卢格（Steven McClurg）通过电子邮件告诉《邮报》，“我正在看全球M2货币供应（全球经济中流通的总金额）和美元弱点/信心。”

“Based on M2 alone, Bitcoin should reach $140,000 this year. After US Treasury downgrades, investors are shifting to BTC for safety.”

“仅基于M2，比特币今年应达到140,000美元。在美国财政部降级后，投资者将转移到BTC以确保安全。”

Another key driver behind the rally: institutional adoption.

集会背后的另一个主要驱动力：机构收养。

“If you look at spot ETF flows, they offer key insights into the BTC rally since the Liberation Day market low,” Peter Chung, director of research at Presto Research, told The Post.

Presto Research研究总监Peter Chung对《邮报》说：“如果您看一下现场ETF流量，它们就会为BTC集会提供关键的见解。”

“Data shows over $5 billion has flowed into Bitcoin ETFs. This spot-driven, no-leverage rally over the past five weeks forms a strong foundation for future BTC price action.”

“数据表明，超过50亿美元已流入比特币ETF。在过去五周中，这种现场驱动的，无杠杆的集会为未来的BTC价格行动构成了强大的基础。”

Spot ETF flows refer to the movement of money into and out of spot exchange-traded funds — ETFs that directly hold the underlying asset, such as Bitcoin.

现货ETF流量是指货币向现货交易所交易的资金转移到直接持有基础资产的ETF，例如比特币。

Chung noted that the dynamic could shift if the Federal Reserve cuts rates before July, narrowing spreads with short-term Treasury yields and reviving the once-popular basis trade.

Chung指出，如果美联储在7月之前降低利率，以短期财政收益率缩小差异并恢复了曾经受欢迎的基础贸易，则这种动态可能会发生变化。

Retailers including Target, Lowe’s and TJX reported mixed results Wednesday, revealing a fragile consumer landscape battered by tariffs and inflation. The Dow was also dragged lower by a decline in UnitedHealth after an HSBC downgrade.

包括Target，Lowe's和TJX在内的零售商周三报道了不同的​​结果，显示出脆弱的消费者景观，受到关税和通货膨胀的打击。汇丰银行降级后联合卫生的下降也使道琼斯指数降低了。

Target cut its outlook, citing weaker discretionary spending and falling confidence, as discount-focused TJX kept its upbeat tone and said it was benefiting from shoppers focused on deals. Lowe’s, meanwhile, kept its guidance unchanged.

Target认为，以折扣为重点的TJX保持其乐观的基调，并说它从专注于交易的购物者中受益，理由是自由自由支出和信心下降。同时，Lowe的指导不变。