尽管经济前景严峻，但比特币表现出弹性，兑美元汇率增长了3.31％

尽管在昨天第一季度的负GDP印刷品上，比特币表现出令人惊讶的弹性，尽管对美国经济的看法严峻。短暂浸入后

Despite the bleak outlook for the U.S. economy following yesterday’s negative GDP print for the first quarter, Bitcoin has shown surprising resilience.

尽管在昨天第一季度负面的GDP印刷后，美国经济的前景黯淡，比特币表现出令人惊讶的弹性。

After briefly dipping to the $92,000 range immediately after the news broke, BTC quickly rebounded and regained momentum throughout the day. It is now trading at $96,136 on CoinMarketCap, defying expectations of a prolonged downturn.

在新闻发布后，短暂浸入了92,000美元的销量之后，BTC迅速反弹并恢复了全天的势头。现在，CoinMarketCap的交易价格为96,136美元，无视对延长衰退的期望。

While many anticipated that a poor GDP reading would negatively impact the digital asset, Bitcoin actually managed to gain 3.31% against the U.S. Dollar since yesterday morning. This performance opens up the conversation about whether Bitcoin is finally establishing itself as a hedge against economic downturns.

尽管许多人预计差的GDP读数会对数字资产产生负面影响，但比特币自昨天早上以来实际上赢得了3.31％的股价。这种表演开启了关于比特币是否最终将自己建立为对冲经济低迷的对话。

We all know the drill: BTC’s limited supply of 21 million tokens and incredible demand make it a highly sought-after asset. Akin to the physical asset gold, Bitcoin is built to serve as a store of value that, in theory, should hold on to value in times of economic uncertainty.

我们都知道这项演习：BTC有限的2100万个令牌和令人难以置信的需求使其成为备受追捧的资产。比特币类似于物理资产黄金，其建造是一种价值存储，从理论上讲，在经济不确定性时期应该保持价值。

However, that hasn’t necessarily happened in the past. The last time the U.S. saw a poor quarterly GDP print was in July 2022. Back then, BTC dropped 8.76% in a week and later crashed further, losing 15% in just 22 days.

但是，这不一定发生在过去。美国最后一次看到季度GDP的打印量是在2022年7月。当时，BTC一周内下降了8.76％，后来进一步坠毁，在短短22天内损失了15％。

This time, however, the story appears to be different. Despite recession fears in the world’s largest economy, Bitcoin not only held its value but even gained. But why is that?

但是，这次故事似乎有所不同。尽管经济衰退对世界上最大的经济体有担忧，但比特币不仅具有其价值，而且还获得了。但是为什么？

Perhaps, the talk of Bitcoin hedge is no longer just theory. This idea could be reinforced by the significant increase in institutional adoption we’ve seen over the past year. Companies like Microstrategy and Metaplanet have continued to stockpile Bitcoin, treating it as a financial safeguard amid growing economic uncertainty. Their aggressive accumulation signals that major players increasingly view BTC as a hedge, much like gold has historically been for traditional markets.

也许，对比特币对冲的话题不再只是理论。我们过去一年中看到的机构采用大幅提高可以加强这一想法。像MicroStrategy和Metaplanet这样的公司继续储存比特币，将其视为经济不确定性日益严重的财务保障。他们积极的积累信号表明，主要参与者越来越多地将BTC视为对冲，就像黄金历史上对传统市场一样。

Meanwhile, governments are beginning to follow suit. Arizona is close to formalizing its Bitcoin reserve, with legislation that would allow the state to allocate up to 10% of public funds into digital assets. This move could mark a major shift in Bitcoin’s role at the state level, potentially paving the way for other governments to adopt similar strategies.

同时，政府开始效仿。亚利桑那州接近正式化其比特币储备，该法规将允许该州将多达10％的公共资金分配给数字资产。这一举动可能标志着比特币在州一级角色的重大转变，可能为其他政府采用类似策略铺平了道路。

Beyond Arizona, reports suggest that other jurisdictions, from municipal governments to international entities, are exploring BTC reserves as a way to diversify holdings and reduce reliance on fiat currencies.

除亚利桑那州以外，报告表明，从市政府到国际实体的其他司法管辖区正在探索BTC储备，以此作为使持股和减少对法定货币的依赖的一种方式。

The real test however, will come in just 6 days. At the next Federal Open Market Committe meeting, the Federal Reserve will determine the next interest rate decision for the U.S. economy. Unless Chairman Jerome Powell has suddenly taken up skydiving and a liking for other risky activities, cutting rates amid what could be the start of a recession would be highly uncharacteristic of him.

但是，真正的测试将在短短6天内出现。在下届联邦公开市场委员会会议上，美联储将确定美国经济的下一个利率决定。除非董事长杰罗姆·鲍威尔（Jerome Powell）突然参加了跳伞运动并喜欢其他风险活动，否则在经济衰退的开始时，削减速度将是他的高度不明智主义。

When this happens, Bitcoin should logically feel the impact—especially with investors reassessing liquidity conditions and risk appetite. However, if BTC manages to maintain its strength against the U.S. dollar despite the rate cut, it would provide even stronger support for the narrative that Bitcoin is evolving into a true hedge asset.

发生这种情况时，比特币应该从逻辑上感受到影响，尤其是投资者重新评估流动性条件和风险食欲。但是，如果BTC尽管降低了利率，但BTC设法维持其对美元的实力，它将为比特币不断发展成为真正的对冲资产的叙述提供更强有力的支持。