随着降息预期复苏，比特币飙升

疲弱的消费者通胀和零售销售数据引发了对美联储早些时候降息的猜测，比特币和以太币因积极的市场情绪而飙升。全球市值最大的加密货币比特币上涨 3.7% 至 64,000 美元，而以太币上涨 2% 至 2,950 美元。该报告增加了 7 月份降息的可能性，提振了投资者对加密货币市场的信心。

Bitcoin Surges on Renewed Rate Cut Expectations

降息预期重燃，比特币飙升

New York, May 11, 2023 - Bitcoin (BTC-USD) experienced a significant surge in value on Wednesday, fueled by positive economic data that bolstered expectations of potential interest rate cuts by the Federal Reserve (Fed) later this year.

纽约，2023 年 5 月 11 日 - 周三，比特币 (BTC-USD) 的价值大幅飙升，受到积极的经济数据的推动，这些数据增强了美联储 (Fed) 在今年晚些时候可能降息的预期。

At 10:18 a.m. ET, the world's largest digital currency by market capitalization jumped by 3.7% to $64,000. Ether (ETH-USD), the second-largest cryptocurrency, also gained traction, rising 2% to $2,950.

美国东部时间上午 10:18，全球市值最大的数字货币上涨 3.7%，至 64,000 美元。第二大加密货币以太币 (ETH-USD) 也受到关注，上涨 2% 至 2,950 美元。

The rally was triggered by softer-than-expected reports on consumer inflation and retail sales. The U.S. Consumer Price Index (CPI) showed a modest deceleration in April on a month-over-month basis, raising hopes that inflationary pressures may be easing. However, analysts cautioned that certain categories within the CPI, such as shelter and services, remain elevated.

此次上涨是由消费者通胀和零售销售报告弱于预期引发的。 4月份美国消费者价格指数（CPI）环比小幅放缓，增加了人们对通胀压力可能缓解的希望。然而，分析师警告称，消费者物价指数中的某些类别，例如住房和服务，仍然处于较高水平。

Retail sales, meanwhile, remained flat in April, following downwardly revised increases in the previous two months. Despite these mixed signals, the reports boosted traders' confidence in the likelihood of a rate cut by the Fed.

与此同时，继前两个月的增长下调后，4 月份零售额仍持平。尽管存在这些混杂的信号，但这些报告增强了交易者对美联储降息可能性的信心。

According to the CME FedWatch tool, the probability of a 25-basis-point rate cut in July increased to 28.3% on Wednesday, up from 26.4% the previous day. Markets also assigned a slightly higher probability to a rate cut in September.

CME FedWatch工具显示，周三7月降息25个基点的可能性升至28.3%，高于前一天的26.4%。市场还认为 9 月份降息的可能性略高。

The prospect of lower interest rates is typically viewed as favorable for risky assets, including cryptocurrencies. Lower interest rates make it more attractive for investors to hold these assets, as they offer higher returns compared to traditional fixed-income investments.

较低利率的前景通常被认为有利于包括加密货币在内的风险资产。较低的利率使投资者持有这些资产更具吸引力，因为与传统的固定收益投资相比，它们提供更高的回报。

Galaxy Digital's Mike Novogratz, a prominent cryptocurrency investor, believes that the recent rally in Bitcoin and Ether is likely to continue within a relatively narrow trading range. He cited the ongoing geopolitical uncertainty and a lack of major developments in the cryptocurrency ecosystem as factors that may limit the upside potential in the short term.

Galaxy Digital 的迈克·诺沃格拉茨 (Mike Novogratz) 是一位著名的加密货币投资者，他认为比特币和以太币近期的上涨可能会在相对狭窄的交易区间内持续下去。他指出，持续的地缘政治不确定性和加密货币生态系统缺乏重大发展是可能限制短期上行潜力的因素。

The positive sentiment in the cryptocurrency market was reflected in the performance of crypto-related stocks. MicroStrategy (MSTR) surged by 5.6%, Coinbase (COIN) gained 2.6%, Riot Platforms (RIOT) rose by 1.1%, Marathon Digital (MARA) climbed 1.7%, Bitfarms (BITF) jumped 5.3%, and Hut 8 (HUT) advanced by 5.5%.

加密货币市场的积极情绪反映在加密货币相关股票的表现上。 MicroStrategy (MSTR) 飙升 5.6%，Coinbase (COIN) 上涨 2.6%，Riot Platforms (RIOT) 上涨 1.1%，Marathon Digital (MARA) 上涨 1.7%，Bitfarms (BITF) 上涨 5.3%，Hut 8 (HUT)上涨5.5%。

Fed Chair Jerome Powell has previously indicated that the central bank would require at least one quarter of favorable inflation data before considering a change in its policy stance. Wednesday's CPI report may not be sufficient to meet this threshold, but it has certainly raised market optimism.

美联储主席鲍威尔此前曾表示，央行将需要至少四分之一的有利通胀数据才能考虑改变政策立场。周三的CPI报告可能不足以达到这一门槛，但它无疑提升了市场的乐观情绪。

The positive economic data also had a positive impact on the broader stock and bond markets. Major stock indices moved higher, while bond yields tumbled. The 10-year Treasury yield fell below 3%, reflecting the market's expectations of lower interest rates in the future.

积极的经济数据也对更广泛的股票和债券市场产生了积极影响。主要股指走高，而债券收益率下跌。 10年期国债收益率跌破3%，反映出市场对未来降息的预期。

Analysts remain cautious about the sustainability of the recent rally in cryptocurrencies. They warn that the market is still vulnerable to volatility and that geopolitical headwinds and regulatory uncertainties could weigh on sentiment in the months ahead. Nevertheless, Wednesday's surge has provided a much-needed boost to the cryptocurrency ecosystem, signaling renewed optimism among investors.

分析师对近期加密货币上涨的可持续性仍持谨慎态度。他们警告说，市场仍然容易受到波动的影响，地缘政治阻力和监管不确定性可能会在未来几个月影响市场情绪。尽管如此，周三的飙升为加密货币生态系统提供了急需的推动力，表明投资者重新燃起乐观情绪。