穆迪（Moody）将美国信用评级降低到AA1，结束了一个世纪的完美分数

穆迪（Moody）于2025年5月16日将美国的信用评级从AAA降低到AA1，理由是长期财政恶化。降级结束了一个世纪的时代

Moody’s downgraded the United States credit rating from Aaa to Aa1 on Monday, ending a century-long era in which the country held a perfect score from all major agencies. The downgrade, which follows downgrades by S&P in 2011 and Fitch earlier in 2023, leaves the country without a top-tier score for the first time since the rating system began.

穆迪周一将美国的信用评级从AAA降至AA1，结束了一个世纪的时代，该国在所有主要机构中都获得了完美的成绩。自2011年早些时候，降级在2011年和惠誉（S＆P）下降之后，自评级系统开始以来，该国首次离开该国没有顶级得分。

The downgrade by Moody’s comes amid concerns over the ballooning U.S. public debt and the lack of a sustainable fiscal framework to counterbalance it.

穆迪（Moody's）的降级是因为人们担心美国公共债务的激增以及缺乏可持续的财政框架来抵消它。

The agency pointed to soaring public debt, rising interest payments, and the lack of a sustainable fiscal framework.

该机构指出，公共债务飙升，利息支付的上升以及缺乏可持续的财政框架。

Data from the U.S. Department of the Treasury shows total public debt has now crossed $34.7 trillion.

美国财政部的数据显示，总共债务现在已经超过34.7万亿美元。

The chart from FRED (Federal Reserve Economic Data) confirms a steep rise in debt starting around 2020, coinciding with pandemic-era stimulus packages.

弗雷德（Fred）（美联储经济数据）的图表证实，从2020年左右开始，债务急剧上升，与流行时代的刺激套餐相吻合。

The visual trend shows that between 2000 and 2020, debt levels increased steadily. However, post-2020, the pace turned exponential. By 2024, total federal debt approached the $34 trillion mark. As of Q2 2025, the trajectory remains upward, with no visible signs of slowing.

视觉趋势表明，在2000年至2020年之间，债务水平稳定增长。但是，2020年后，速度转向指数。到2024年，联邦债务总数达到了34万亿美元。截至2025年第2季度，轨迹保持向上，没有明显的放缓迹象。

This downgrade coincides with a lack of agreement in Congress over a $3.8 trillion tax and spending proposal. Moody’s warned that if Trump-era tax cuts are extended without offsets, the annual deficit could reach 9% of GDP by 2035.

这降级与国会对3.8万亿美元的税收和支出提案缺乏协议相吻合。穆迪警告说，如果在没有偏移的情况下延长特朗普时代的减税措施，到2035年，年度赤字可能会达到GDP的9％。

Markets reacted swiftly. US Treasury yields increased, reflecting concerns about long-term borrowing costs. Equity futures dipped following the news.

市场反应迅速。美国财政收益率增加，反映了对长期借贷成本的担忧。新闻后，股票期货下跌。

The White House dismissed the rating action, stating it was politically motivated, but did not release additional policy guidance or counter-data.

白宫驳回了评级行动，称这是出于政治动机，但没有释放其他政策指导或反数据。

Moody’s also flagged systemic risks in the federal budget structure. Without substantial policy changes, the agency warned that debt servicing costs will consume a larger share of the national budget, making fiscal reform harder in the future.

穆迪还在联邦预算结构中标记了系统性风险。如果没有实质性的政策变化，该机构警告说，债务服务成本将消耗更大的国家预算份额，从而使财政改革将来变得更加艰难。

This downgrade does not change existing bond terms, but it does affect borrowing costs and investor sentiment. US sovereign debt is still considered safe globally, but the absence of a triple-A rating from all agencies may prompt reassessments in global fixed-income portfolios.

该降级不会改变现有的债券条款，但确实会影响借贷成本和投资者的情绪。美国主权债务在全球范围内仍然被认为是安全的，但是所有机构的缺乏三重评级可能会引起全球固定收益投资组合的重新评估。

Bitcoin Supply on Exchanges Hits New Lows, Mirroring Rising Holder Confidence

交换上的比特币供应命中新的低点，反映了上升的持有人的信心

Between April 17 and May 2, Bitcoin supply on exchanges dropped from 1.47 million to 1.42 million BTC, according to data from on-chain analytics firm Santiment. The figure briefly increased to 1.43 million BTC by May 7, but the upward movement was short-lived.

根据链分析公司Santiment的数据，在4月17日至5月2日之间，交易所的比特币供应从147万降至142万BTC。到5月7日，该数字短暂增加到了143万BTC，但向上移动是短暂的。

As of May 17, 2025, the supply has fallen again to 1.41 million BTC, marking a fresh local low in exchange balances. This drop comes despite recent price fluctuations, with Bitcoin price hovering around $103,000, as shown in the same data set.

截至2025年5月17日，供应再次下降到141万BTC，标志着当地新鲜的交换余额。尽管最近价格波动，但这种下降仍会出现，比特币价格徘徊在103,000美元左右，如相同的数据集所示。

The chart from Santiment shows a steady decline in red (exchange supply) against a rising green line (BTC price), particularly from late April through mid-May. The divergence between exchange balances and market price often signals growing investor preference for self-custody.

Santiment的图表显示，红色（Exchange Supply）的绿线（BTC价格）稳定下降，尤其是从4月下旬至5月中旬。交换余额与市场价格之间的差异通常表示增加投资者对自我顾客的偏好。

When traders reduce their holdings on exchanges, it suggests a shift from short-term speculation toward longer-term storage. Such behavior reduces immediate sell pressure, especially during uncertain macroeconomic conditions.

当交易者减少交易所的持股量时，这表明从短期投机向长期存储转变。这种行为降低了立即销售压力，尤其是在不确定的宏观经济条件下。

The chart also shows that this trend has remained consistent even after Bitcoin crossed above the $100,000 mark. While price movements continue to fluctuate in a narrow range, lack of significant shifts in either direction suggests traders may be choosing to wait rather than sell at current levels.

该图表还显示，即使比特币超过100,000美元，这种趋势仍然保持一致。尽管价格变动继续在狭窄的范围内波动，但任何一个方向都缺乏重大变化，表明交易者可能选择等待而不是在当前水平上出售。

This current figure—1.41 million BTC on exchanges—represents the lowest level since early April. Previous resistance levels in this metric have now shifted downward, reflecting broader caution across both retail and institutional holders.

这一目前的数字（141万BTC在交流方面）是自4月初以来最低的水平。现在，该指标的先前抵抗水平已经下降，反映了零售和机构持有人的更加谨慎。

Such movements are often tracked for broader market structure analysis. Declining exchange balances are usually observed during accumulation phases, signaling that fewer coins are immediately available to sell on spot markets at market prices.

通常跟踪此类运动以进行更广泛的市场结构分析。通常在积累阶段观察到交换余额下降，这表明立即以市场价格在现货市场上出售的硬币更少。

However, it's crucial to note that these observations alone do not predictably determine future price trends. Instead, these changing supply dynamics form one key part of the broader picture in tracking overall investor behavior.

但是，至关重要的是要注意，仅这些观察结果并不能预测决定未来的价格趋势。取而代之的是，这些不断变化的供应动态构成了跟踪整体投资者行为的更广泛图片的一部分。

Bitcoin Price Tracks $103K as Ichimoku Cloud Stays Flat

比特币价格轨迹$ 103K，因为Ichimoku Cloud保持平坦

Bitcoin is trading at $103,246 on Thursday, May 17, according to a 4-hour chart from TradingView. The Ichimoku Cloud indicator shows a consolidation phase with no clear breakout signal in sight.

根据TradingView的4小时图表，比特币在5月17日星期四的交易价格为103,246美元。 Ichimoku云指示器显示了一个合并阶段，没有明确的突破信号。

The Kijun-sen line (red) sits at $103,241, closely aligned with the current price. This flat position signals a balanced market, with neither buyers nor sellers dominating. The price has moved sideways along

Kijun-Sen Line（RED）的价格为103,241美元，与当前价格紧密相符。这个平坦的位置标志着平衡市场，买卖双方都没有主导。价格向侧面移动