尽管经济指标积极，比特币（BTC）和加密货币价格仍继续下跌：原因如下

加密货币市场经历了长期的看跌趋势，比特币、以太坊、Solana 和莱特币等主要加密货币的价值持续下跌。

Bitcoin (BTC) and the broader cryptocurrency market continued their sell-off on Friday, extending losses from the previous session.

比特币（BTC）和更广泛的加密货币市场周五继续抛售，延续前一交易日的跌幅。

The world’s largest cryptocurrency fell below the key support level of $20,000 earlier this week and dropped as low as $19,300 on Thursday. At the time of writing, BTC trades around $19,400, down 3.5% over the past 24 hours and 12% over the past seven days.

全球最大的加密货币本周早些时候跌破了 20,000 美元的关键支撑位，并于周四跌至 19,300 美元。截至撰写本文时，BTC 交易价格约为 19,400 美元，过去 24 小时内下跌 3.5%，过去 7 天下跌 12%。

Bitcoin Price Chart - BTC/USD 4 Hour Time Frame (Binance)

比特币价格图表 - BTC/USD 4 小时时间范围（币安）

Cryptocurrency markets have been experiencing a prolonged bearish trend in recent weeks, with major altcoins such as Ethereum, Solana, and Litecoin also posting significant losses. This negative sentiment persists despite several positive economic indicators that would typically favor risky assets.

最近几周，加密货币市场经历了长期的看跌趋势，以太坊、Solana 和莱特币等主要山寨币也出现了重大损失。尽管有一些积极的经济指标通常有利于风险资产，但这种负面情绪仍然存在。

Earlier this week saw the release of several important macroeconomic data points that paint a complex picture of the current economic landscape.

本周早些时候发布了几个重要的宏观经济数据，描绘了当前经济格局的复杂图景。

Consumer Price Index (CPI) Data

消费者价格指数 (CPI) 数据

Wednesday’s CPI data came in lower than expected, which is generally favorable for risk-on assets like cryptocurrencies. The regular CPI was reported at 3.3% (vs. 3.4% expected), while Core CPI Regular came in at 3.4% (vs. 3.5% expected). Monthly data was also positive, with figures coming in below expectations.

周三的消费者物价指数数据低于预期，这通常有利于加密货币等风险资产。常规 CPI 为 3.3%（预期为 3.4%），而核心 CPI 为 3.4%（预期为 3.5%）。月度数据也很乐观，数据低于预期。

The #Crypto markets continue to drop, why?

#Crypto 市场持续下跌，为什么？

This week was filled with macroeconomic data, which all turned out to be bad. However, the Dollar continued its strength the previous week, while Gold was strong too.

本周充斥着宏观经济数据，但结果都是糟糕的。然而，美元上周继续走强，而黄金也走强。

Bitcoin’s price action was terrible, through which altcoins have… Producer Price Index (PPI) Data

比特币的价格走势非常糟糕，山寨币因此......生产者价格指数（PPI）数据

Thursday’s PPI data, which reflects inflation from the producer’s perspective, also showed positive signs. The regular PPI came in at 2.2% (vs. 2.5% expected), while Core PPI Y/Y was 2.3% (vs. 2.4% expected). Monthly data was particularly encouraging, with negative or zero growth reported against positive expectations.

周四公布的从生产者角度反映通胀的PPI数据也显示出积极迹象。常规 PPI 为 2.2%（预期为 2.5%），而核心 PPI 同比为 2.3%（预期为 2.4%）。月度数据尤其令人鼓舞，负增长或零增长与积极预期相反。

Consumer Sentiment

消费者信心

Friday’s consumer sentiment data came in lower than expected at 65.6 (vs. 72.1 expected). While this indicates economic weakness, it paradoxically can be seen as a positive signal for risk-on assets, as it may increase the likelihood of interest rate cuts.

周五的消费者信心数据低于预期，为 65.6（预期为 72.1）。虽然这表明经济疲软，但矛盾的是，它可以被视为风险资产的积极信号，因为它可能会增加降息的可能性。

FOMC and Jerome Powell’s Hawkish Stance

联邦公开市场委员会和杰罗姆·鲍威尔的鹰派立场

Despite the encouraging inflation data, Federal Reserve Chair Jerome Powell delivered an unexpectedly hawkish speech on Wednesday evening. Powell maintained a strict stance on monetary policy and revised downward the number of potential rate cuts for 2024. This hawkish tone contrasts with the market’s increasing expectation of necessary rate cuts, especially in light of growing U.S. government debt and signs of potential recession.

尽管通胀数据令人鼓舞，但美联储主席杰罗姆·鲍威尔周三晚间发表了出人意料的鹰派讲话。鲍威尔维持严格的货币政策立场，并下调了2024年可能降息的次数。这种鹰派语气与市场对必要降​​息的预期日益增强形成鲜明对比，特别是考虑到美国政府债务不断增加以及潜在衰退的迹象。

Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!

Milei Moneda 是一种新的模因硬币，其灵感源自阿根廷总统哈维尔·米莱 (Javier Milei) 的政治和经济观点，哈维尔·米莱以自由主义和支持比特币的立场而闻名。您有机会以持续低廉的预售价提前入手！

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The Impact of Positive Economic Indicators on Cryptocurrency Markets

积极的经济指标对加密货币市场的影响

Typically, positive economic indicators such as lower-than-expected inflation data and strong consumer spending would be expected to drive up the prices of risky assets like cryptocurrencies. However, the current market sell-off seems to be defying this logic.

通常情况下，低于预期的通胀数据和强劲的消费者支出等积极的经济指标预计将推高加密货币等风险资产的价格。然而，当前的市场抛售似乎违背了这一逻辑。

According to Michaël van de Poppe, a prominent crypto analyst and trader, several factors may be contributing to this puzzling market behavior. One key factor is the continued uncertainty surrounding the listing of an Ethereum ETF.

著名加密货币分析师和交易员 Michaël van de Poppe 表示，有几个因素可能导致了这种令人费解的市场行为。一个关键因素是以太坊 ETF 上市的持续不确定性。

“The markets are continuing to sell off, which is interesting to see considering the macroeconomic data that came in bullish for the markets,” van de Poppe said in a recent YouTube video analysis.

van de Poppe 在最近的 YouTube 视频分析中表示：“市场正在继续抛售，考虑到对市场有利的宏观经济数据，这一点很有趣。”

“We saw the CPI numbers come in lower than expected, also the PPI numbers, and even the consumer sentiment, which was lower than expected. Usually, this would be bullish for the markets, but we see a different kind of market structure.”

“我们看到消费者物价指数（CPI）数据低于预期，生产者价格指数（PPI）数据也低于预期，甚至消费者信心也低于预期。通常，这对市场有利，但我们看到了一种不同的市场结构。”

Crypto Analyst Michaël van de Poppe (screenshot)

加密货币分析师 Michael van de Poppe（截图）

He continued, “One of the things that is still missing is the decision on the listing of an Ethereum ETF. We had the spot Bitcoin ETF, which didn’t really do much for the markets. Now, people are eagerly awaiting the listing of an Ethereum ETF.”

他继续说道：“目前还没有做出以太坊 ETF 上市的决定。我们有现货比特币 ETF，但它对市场并没有多大作用。现在，人们正在热切等待以太坊 ETF 的上市。”

“This is also setting up a scenario where we might get a ‘Sell the Rumor, Buy the News' event for the entire crypto market, which could be interesting to see play out.”

“这也设置了一个场景，我们可能会为整个加密市场举办一场‘出售谣言，购买新闻’事件，这可能会很有趣。”

Despite the current bearish trend, van de Poppe sees potential for a market turnaround in the near future. He anticipates one more week of downward pressure before an upward movement begins. The analyst points to the inevitability of rate cuts on the horizon, even as uncertainties surrounding their timing continue to influence market behavior.

尽管目前趋势看跌，但范德波普认为市场在不久的将来有可能出现好转。他预计，在上涨趋势开始之前，还会面临一周的下行压力。分析师指出，降息是不可避免的，尽管降息时机的不确定性继续影响市场行为。

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加入 Aethir 的独家空投，通过参加活动或持有社区代币来赚取徽章。完成任务并