穆迪（Moody）在一个多世纪以来首次降低了美国政府的信用等级

穆迪（Moody）在一个多世纪以来首次降低了美国政府的信用等级。该机构将其AAA评级降低到AA1，这是该国的结果

For the first time in more than a century, Moody’s downgraded the US government’s credit rating. The agency reduced its Aaa rating to Aa1, and this was a result of the country’s piling debt and the political deadlock. US Treasury yields increased, and equity and cryptocurrency prices fell right after the news got out. The change in the market situation makes it difficult to predict the future of Bitcoin as the market continues to take into consideration issues of risk and safety.

穆迪（Moody）在一个多世纪以来首次降低了美国政府的信用等级。该机构将其AAA评级降低到AA1，这是该国堆积债务和政治僵局的结果。美国财政部收益率提高，新闻发布后，股票和加密货币价格下跌。市场情况的变化使得由于市场继续考虑风险和安全问题，因此很难预测比特币的未来。

The first reaction from the market was to Treasury yields to the steep rate hikes. The 10-year US government bond yield, initially triggered by the rating downgrade, surged by nearly 10 basis points (bp) and came to 4.54%, while the 30-year US yield vaulted to 5.01%.

市场的第一个反应是财政部收益到陡峭的速度。最初由评级降级引发的10年美国政府债券收益率提高了近10个基点（BP），达到4.54％，而美国30年的美国收益率降至5.01％。

These increased yields indeed pull the curve to a steeper configuration and also negatively affect risk assets, such as Bitcoin. However, the cut in the credit rating also weakened the status of the US dollar as a safe haven, and so it was instrumental in pressuring the greenback to move lower, reducing the rates.

这些提高的产量确实将曲线拉到更陡峭的配置，并且也会对风险资产（例如比特币）产生负面影响。但是，信用等级的降低也削弱了美元作为避风港的状态，因此它有助于迫使绿背施加较低的速度，从而降低了费率。

Furthermore, the risk‑off sentiment was widespread and quickly spread through all markets. As stocks were selling off, not only the equities market but also the Bitcoin market plummeted. Bitcoin was hit with over a 4.5% decline on the day of the credit rating cut, further displaying its short‑term rapport with the bear‑run stocks. This immediately caused the speculators who thought Bitcoin was a risk asset to instantly be in a downside zone.

此外，风险投入的情绪是广泛的，并迅速在所有市场中传播。随着股票的销售，不仅股票市场，而且比特币市场下跌。比特币在降低信用评级的当天下降了4.5％，进一步显示了其与熊市股票的短期融洽关系。这立即导致投机者认为比特币是立即处于下行区域的风险资产。

It was Maleny that also highlighted the historical occasion of the downgrade of Moody’s to the United States credit. It is the first time that the rating agency has cut the US government’s credit rating after almost 100 years. The decision is because of the increasing US public debt, which is now at 36 trillion dollars, and ongoing worries about governance. This description of the situation intensifies the risk narrative, which could, in turn, drive much deeper Bitcoin price falls if it also happens in the stock market.

马雷尼还强调了穆迪降级为美国的历史场合。这是该评级机构在将近100年后首次降低美国政府的信用评级。决定是因为美国的公共债务增加，现在是36万亿美元，并且对治理的持续担忧。对情况的描述加剧了风险叙事，如果股票市场上也发生了更深的比特币价格，这种叙述可能会推动更深的比特币价格下降。

In the coming days, the most impactful events will continue to be changes in US fiscal policy and central bank decisions. If the government sends a signal about its intention to resort to drastic monetary measures to support the economy after the recession, Bitcoin might gain an upper hand through lower real yields.

在接下来的几天里，最有影响力的事件将继续是美国财政政策和中央银行决策的变化。如果政府发出有关诉诸于经济衰退后迈出巨大货币措施以支持经济的信号，则比特币可能会通过较低的实际收益率占上风。

Conversely, the market will have to wait and see the development of these indicators as they monitor the crypto market, and signals from the government, for any indication of fiscal tightening or persistent yield pressure, which might be a case of longer weakness in the cryptocurrency, or not.

相反，市场将在监测加密货币市场和政府信号时必须等待并查看这些指标的发展，以表明财政收紧或持续的屈服压力的任何迹象，这可能是加密货币较长的弱点。

The Moody’s downgrade has definitely made things difficult for Bitcoin. In the near future, there is a possibility that a rise in bond yields and general risk aversion will be obstacles to deal with for prices.

喜怒无常的降级绝对使比特币困难。在不久的将来，债券收益率的上升和普遍的风险规避可能是价格应对价格的障碍。

The long run scenario could include the US dollar’s downfall and the country’s credit worries, which would lead to a positive outlook on Bitcoin. Investors’ attention will be captured by yield movements, dollar fluctuations, and the stance of the authorities, as these are the factors to consider in marking Bitcoin’s likely trajectory.

长期的情况可能包括美元的倒台和该国的信用担忧，这将导致对比特币的积极前景。投资者的注意力将被收益率变动，美元波动和当局的立场所吸引，因为这些是标记比特币可能的轨迹时要考虑的因素。