中国中央银行正在以流动性淹没其经济

数据显示，仅在2月，中国人民银行（PBOC）仅在2月注入了超过2.5万亿元人民币，这是这项持续的大规模努力的一部分。

China's central bank is flooding its economy with liquidity, with monthly stimulus injections in the first half of 2025 reaching historic levels—a turning point that has global financial markets buzzing.

中国中央银行正在以流动性淹没其经济，在2025年上半年，每月刺激注射达到历史水平，这一转折点使全球金融市场嗡嗡作响。

Data reveals that the People's Bank of China (PBOC) injected over 2.5 trillion RMB in February alone as part of this sustained, large-scale effort.

数据表明，仅在2月，中国人民银行（PBOC）仅在2月注入了超过2.5万亿元人民币，这是这项持续的大规模努力的一部分。

This compares sharply with the usual liquidity adjustments, which saw a net injection of 800 billion RMB in January and varied between 300 billion RMB and 800 billion RMB in the last two years, according to PBOC data from 2021 to 2024. While there were occasional contractions, the overarching policy aimed to stabilize China's economy in the face of inflation, real estate fluctuations, and global uncertainty.

这与通常的流动性调整截然相比，该调整在1月份净注入了8000亿元人民币，在过去两年中，在过去两年中有3000亿元人民币和8000亿元人民币的净注入范围，根据2021年至2024年的PBOC数据，虽然偶尔的税收政策，但在中国的整体范围内稳定了整体，而稳定了趋势。

However, the recent figures for March, April, and May saw even greater injections, ranging from two to five times above the recent average.

但是，最近3月，4月和五月的数字看到了更多的注射，比最近平均水平的两倍到五倍。

This massive liquidity infusion has sparked interest among market analysts, particularly in relation to the recent surge in cryptocurrencies like Bitcoin.

这种大量的流动性输液引发了市场分析师之间的兴趣，尤其是与比特币等加密货币最近的激增有关。

Crypto Rover, a market analyst, drew this connection on social media, suggesting that an increase in the Chinese money supply could flow into Bitcoin and digital assets.

市场分析师Crypto Rover在社交媒体上引起了这种联系，这表明中国货币供应的增加可能会流向比特币和数字资产。

"THIS MONEY WILL FLOW INTO BITCOIN & CRYPTO!" he exclaimed on X (formerly Twitter).

“这笔钱将流向比特币和加密！”他在X（以前是Twitter）上大叫。

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China's central bank continues to inject liquidity into its economy, and the implications are huge for global markets. As the Chinese money printer goes Brrrr, we could see more of the gains flowing into Bitcoin and digital assets.

中国中央银行继续向其经济注入流动性，对全球市场的影响很大。随着中国货币打印机的BRRRR，我们可以看到更多的收益流入比特币和数字资产。

An increase in the Chinese money supply could flow into crypto.

中国货币供应的增加可能会流入加密货币。

Crypto, Risk Assets React to Monetary Expansion

加密，风险资产对货币扩张做出反应

Analysts have highlighted the global impact of China's bold liquidity injection measures, particularly on alternative assets.

分析师强调了中国大胆的流动性注入措施，特别是对替代资产的全球影响。

Crypto market analyst Crypto Rover noted that these stimulus periods have typically coincided with increases in Bitcoin and other digital currencies.

加密市场分析师Crypto Rover指出，这些刺激时期通常与比特币和其他数字货币的增加相吻合。

"We've seen cycles where they do liquidity injections, and we do see surges in Bitcoin and other risk assets," explained Crypto Rover.

“我们已经看到了他们在哪里进行流动性注射的周期，而且我们确实看到了比特币和其他风险资产的潮流。”

He added that periods of massive capital influx may also have a positive impact on Chinese stocks, bonds, and key industries such as technology and infrastructure.

他补充说，大量资本涌入时期也可能对中国股票，债券以及技术和基础设施等主要行业产生积极影响。

This trend is highlighted in the current weekly Bitcoin chart, which indicates prices have hit a new all-time high above $110,000. For technical analysts, there have been four distinct bull flag formations since 2022, each followed by sharp breakouts and sustained gains. If liquidity conditions persist, traders expect Bitcoin to challenge resistance at $116,000 and $128,000 in the coming months.

当前的每周比特币图表中强调了这一趋势，这表明价格已经达到了110,000美元以上的新历史高度。对于技术分析师来说，自2022年以来已经有四个不同的牛旗形成，随后是急剧突破和持续的增长。如果流动性状况持续存在，交易者预计比特币将在未来几个月内以116,000美元和128,000美元的价格挑战抵抗。

At the same time, the US and China have announced a new trade framework, which will see the return of Chinese students to American universities and the supply of rare earth minerals from China, according to President Donald Trump.

唐纳德·特朗普（Donald Trump）表示，与此同时，美国和中国宣布了一个新的贸易框架，该贸易框架将使中国学生返回美国大学，并从中国提供稀土矿产。

The agreement, still pending final approval, will also set a US tariff rate of 55% on Chinese goods, a figure derived from multiple policy layers, explained Trump. While the White House confirmed these details, some of the terms described by President Trump were not specified in the public negotiation documents.

特朗普解释说，该协议仍将在最终批准之前，还将为中国商品的美国关税率定为55％，这是来自多个政策层的数字。尽管白宫证实了这些细节，但特朗普总统所描述的一些术语尚未在公共谈判文件中指定。

"Our deal with China is done, subject to final approval with President Xi and me," Trump said.

特朗普说：“我们与中国的协议已经完成，但要与习近平总统和我的最终批准。”

Financial markets responded with volatility to these developments. US equity futures initially had losses but quickly reversed as traders tried to integrate both the trade framework and China's monetary pivot.

金融市场对这些事态发展做出了响应。美国股票期货最初遭受损失，但由于交易者试图将贸易框架和中国的货币枢纽融为一体，因此很快就会扭转。

Currency strategists are also cautioning that the rise in the RMB supply could pressure the yuan, which could result in greater fluctuations in the foreign exchange markets, particularly if other central banks maintain tighter monetary policies.

货币战略家还警告说，元人民币供应的上升可能会给人民币施加压力，这可能会导致外汇市场的波动更大，特别是如果其他中央银行维持更严格的货币政策。