美国最近10年的财政收益率上升，导致比特币跃升至45,000美元以上

最近，美国10年的财政收益率越来越高，超过4.54％。金融领域的许多人注意到这一重大上升

Recently, the US 10-year Treasury yield has seen a jump, going above 4.54%. This substantial rise in interest rates has sparked reactions in the financial field, particularly from Arthur Hayes, an industry figure. Hayes has pointed out the significant changes in Bitcoin pricing, which could immediately drive regulators or central banks to adopt new measures.

最近，美国10年的财政收益率越来越高，超过4.54％。利率的大幅上升引发了金融领域的反应，尤其是来自行业数字的亚瑟·海斯（Arthur Hayes）。海斯指出，比特币定价的重大变化，这可能会立即驱动监管机构或中央银行采取新措施。

This is because the yield moves observed could lead to higher volatility according to the MOVE Index. The sudden rise in interest rates indicates that more investors now expect higher inflation and are therefore expecting US rate hikes. When the economy weakens, it tends to lead consequently to higher borrowing rates. Greater interest rates as a result of higher yields can lower economic growth.

这是因为观察到的产量移动可能会导致较高的波动率，该移动指数的波动性。利率的突然上升表明，现在有更多的投资者期望通货膨胀率更高，因此预计美国的利率会涨幅。当经济削弱时，它往往会导致更高的借贷率。由于较高的收益率，更高的利率可以降低经济增长。

As a result of this scenario, investors often adjust their investments into riskier markets which can include cryptocurrency. The “Brrrrr” that Hayes uttered means he is concerned about how volatility in markets might lead to problems in various assets.

由于这种情况，投资者经常将其投资调整为风险更高的市场，其中可能包括加密货币。海斯说的“ Brrrrr”意味着他担心市场上的波动可能会导致各种资产问题。

Bitcoin and Crypto Markets React to Yield Volatility

比特币和加密市场对产生波动的反应

A rise in US Treasury yields has led to significant changes in Bitcoin’s price. Bitcoin has had huge changes in price at the beginning of the week. This has indicated how this type of asset responds to outside events. With this level of uncertainty, we can see that changes in traditionally traded financial assets can cause major reactions in cryptocurrency markets.

美国财政收益率的上升导致比特币价格发生了重大变化。比特币在本周初的价格发生了巨大变化。这表明这种类型的资产如何响应外部事件。由于这种不确定性，我们可以看到传统交易的金融资产的变化可能会导致加密货币市场的重大反应。

Changes in the price of Bitcoin are caused by adjustments in investor risk. An increase in the yields of bonds usually makes placing money in speculative assets less appealing. Some investors may reduce their investment in crypto if the rewards become higher due to its higher risk. As a result, its price may tend to fluctuate. Even so, Elon Musk and others have helped promote some altcoins which adds even more uncertainty to the market.

比特币价格的变化是由投资者风险调整引起的。债券收益率的提高通常会使投机资产中的资金降低。如果奖励由于较高的风险而变得更高，一些投资者可能会减少对加密货币的投资。结果，其价格可能会波动。即便如此，埃隆·马斯克（Elon Musk）和其他人也有助于推广一些山寨币，从而增加了市场的不确定性。

Understanding the Impact of US Yields on Cryptocurrency

了解美国对加密货币的影响

The interest rates set by the US Treasury are watched by investors around the globe and used as a gauge for global rates. When interest rates are high due to higher yields, both economic activity and companies’ profits are affected. Because of this, people tend to shift their investment plans from riskier assets such as stocks, to more secure assets such as bonds. As cryptocurrencies are neither widely used nor stable yet, they are readily influenced by changes.

美国财政部设定的利率由全球投资者监视，并用作全球利率的规格。当利率由于较高的收益率而高的利率时，经济活动和公司的利润都会受到影响。因此，人们倾向于将投资计划从股票等风险的资产转移到更安全的资产，例如债券。由于加密货币尚未广泛使用也不稳定，因此很容易受到变化的影响。

As more profit can be achieved through yield farming, many investors may prefer to leave cryptocurrencies and seek their returns elsewhere. Since fixed income provides greater returns, investors might prefer it to crypto in the short term. Alternatively, some investors claim that Bitcoin is a good protection against inflation and rate increases because its supply is limited.

由于可以通过产量耕种获得更多的利润，因此许多投资者可能更喜欢离开加密货币并在其他地方寻求回报。由于固定收益提供了更多的回报，因此在短期内，投资者可能更喜欢它而不是加密货币。另外，一些投资者声称，比特币是一种很好的保护，可以防止通货膨胀和利率提高，因为其供应有限。

Notably, if there is greater volatility in bond markets, as seen in the MOVE Index, it can influence crypto markets as well. This could trigger a change in cryptocurrency prices.

值得注意的是，如果在移动指数中看到的债券市场的波动性更大，它也会影响加密市场。这可能会触发加密货币价格的变化。

The increased interest rates on US Treasuries have reached both old and new markets. This suggests how connected these markets are now. Even if Bitcoin prices drop due to high yields, the argument that it is a reliable store of value gives it more long-term potential. People who invest in crypto should regularly observe these indicators. This is because they will continue to have an important part to play in the industry in the upcoming months.

美国国债的利率提高到了新旧市场。这表明这些市场的联系如何。即使比特币价格由于高收益而下跌，它是可靠的价值存储的论点也会带来更长期的潜力。投资加密的人应定期观察这些指标。这是因为他们将在接下来的几个月中继续在该行业中发挥重要作用。