该指标表明从黄金转向比特币

随着支持加密货币的共和党候选人唐纳德·特朗普赢得美国总统大选，该比率周三飙升 12%。

A key metric is signaling a rotation of investor capital from gold to bitcoin, a trend that could favor the leading cryptocurrency in the coming months.

一个关键指标表明投资者资本从黄金转向比特币，这一趋势可能在未来几个月有利于领先的加密货币。

The bitcoin-to-gold ratio surged 12% Wednesday as the pro-crypto Republican candidate Donald Trump won the U.S. presidential election, notching BTC’s biggest single-day outperformance relative to gold since Feb. 28, according to charting platform TradingView.

根据图表平台 TradingView 的数据，随着支持加密货币的共和党候选人唐纳德·特朗普赢得美国总统大选，比特币与黄金的比率周三飙升 12%，创下 2 月 28 日以来 BTC 相对于黄金的最大单日表现。

The ratio, calculated by dividing bitcoin’s per-piece dollar price by gold’s per-ounce price, rose to 0.14 from 0.12 on Wednesday, continuing a recent uptrend. A higher ratio indicates bitcoin is outperforming gold.

该比率是用比特币的每美元价格除以黄金的每盎司价格计算得出的，从周三的 0.12 升至 0.14，延续了近期的上升趋势。较高的比率表明比特币的表现优于黄金。

The surge in the ratio confirmed a breakout from an eight-month-long downtrend, identified by a trendline connecting highs in March and June.

该比率的飙升证实了长达八个月的下降趋势的突破，该下降趋势由连接 3 月和 6 月高点的趋势线确定。

The breakout suggests a renewed outperformance of bitcoin relative to gold, fueled in part by investors shifting their funds from the yellow metal to BTC.

此次突破表明，比特币相对于黄金的表现再次优于黄金，部分原因是投资者将资金从黄金转向比特币。

“Analyzing the BTC to gold ratio, we can see that the downtrend [indicative of gold’s outperformance since March] is starting to reverse. Globally, investors will increasingly focus on hedging against currency debasement and capitalizing on the Trump market play, both of which favor BTC,” Noelle Acheson, author of the Crypto Is Macro Now newsletter, told CoinDesk in an email.

“分析比特币与黄金的比率，我们可以看到下降趋势（表明黄金自 3 月份以来表现优异）正在开始逆转。在全球范围内，投资者将越来越多地关注对冲货币贬值和利用特朗普的市场行为，这两者都对 BTC 有利。”《加密货币现在是宏观》时事通讯的作者 Noelle Acheson 在一封电子邮件中告诉 CoinDesk。

BTC also stands to benefit from the expected regulatory clarity for the digital asset industry and increased institutional adoption under Trump’s presidency. There is speculation that the Trump administration could build a strategic bitcoin reserve.

比特币还将受益于数字资产行业预期的监管清晰度以及特朗普总统任期内机构采用率的提高。有人猜测特朗普政府可能会建立比特币战略储备。

Meanwhile, gold’s fate will likely be decided by the expectations of higher interest rates under the Trump presidency, which could dull its appeal.

与此同时，黄金的命运可能取决于特朗普总统任期内利率上升的预期，这可能会削弱其吸引力。