隨著風險反彈再升級，比特幣 (BTC) 價格飆升至 10 萬美元以上，創至少 2023 年以來華爾街最佳 CPI 日

美國通膨低於預期，重新點燃了對從加密貨幣到股票等風險資產的需求，隨著聯準會降息押注的重新調整，比特幣價格再次飆升至 10 萬美元以上。

Bitcoin price crossed $100,000 again on Wednesday as softer-than-expected US inflation data sparked a risk rally, tracking the best CPI day on Wall Street since at least 2023.

週三，由於美國通膨數據疲軟，引發風險反彈，比特幣價格再次突破 10 萬美元，創下至少 2023 年以來華爾街 CPI 最高紀錄。

Demand for risky assets, from cryptocurrencies to stocks, was reignited by the softer inflation readings, pushing Bitcoin past the key level once more.

通膨數據疲軟重新點燃了對從加密貨幣到股票等風險資產的需求，推動比特幣再次突破關鍵水平。

The world’s largest cryptocurrency by market capitalization has been hovering between the $90,000 and $100,000 mark for the past four weeks. On Wednesday, the token rose 3.9% to $100,222. It last hit $100,000 on January 7, roughly $8,000 below its December 17 all-time high.

過去四個星期，全球市值最大的加密貨幣一直徘徊在 9 萬美元至 10 萬美元大關之間。週三，該代幣上漲 3.9% 至 100,222 美元。最後一次觸及 10 萬美元是在 1 月 7 日，比 12 月 17 日的歷史高點低約 8,000 美元。

A positive tone was set for digital tokens by the equity market’s reaction to the US inflation figures on Wednesday, with Bitcoin’s correlation with the Nasdaq, a measure of US technology companies, hitting a two-year high.

週三股市對美國通膨數據的反應為數位代幣奠定了積極的基調，比特幣與衡量美國科技公司的納斯達克指數的相關性創下了兩年來的新高。

According to data from Bloomberg, the OG token and the Nasdaq 100 Index have a 30-day correlation coefficient of around 0.70. If the value is 1, the assets are moving in lockstep, and if it is -1, the assets are moving in the inverse tie.

根據彭博社的數據，OG代幣與納斯達克100指數的30天相關係數約為0.70。如果該值為 1，則資產以同步方式移動，如果為 -1，則資產以逆同步方式移動。

Bitcoin & Nasdaq Are Tied at the Hip

比特幣與納斯達克勢均力敵

Consumer price increases of 2.9% year-over-year were in line with forecasts, while core inflation came in lower than expected at 0.2% month-over-month, according to the latest US inflation report.

根據美國最新通膨報告，消費者物價年增 2.9%，符合預期，而核心通膨季增 0.2%，低於預期。

That marked the first step down in the core rate in six months.

這標誌著六個月來核心利率首次下降。

Cheaper hotel stays, a smaller advance in medical care services, and relatively tame rent increases helped to restrain the December figure.

飯店住宿價格的下降、醫療保健服務的進步較小以及相對溫和的租金漲幅有助於抑制 12 月的數據。

Easing inflation helps re-establish the narrative that progress in price pressures has resumed after months of higher prints.

通膨的緩解有助於重新確立這樣一種說法：在連續數月的高印數之後，價格壓力已經恢復。

However, Fed members will still need to see a string of moderate readings to be convinced. Bond yields have risen substantially amid sticky inflation and concerns that the Fed eased too quickly late last year.

然而，聯準會成員仍需要看到一系列溫和的數據才能被說服。由於通膨高漲以及對聯準會去年底寬鬆政策過快的擔憂，債券殖利率大幅上升。

Policymakers are still expected to hold steady on rates at their meeting later this month.

預計政策制定者在本月稍後的會議上仍將維持利率不變。

That’s largely thanks to strong jobs data and other factors from last week.

這主要歸功於上週強勁的就業數據和其他因素。

However, several analysts suggest that the news could set the stage for a Fed rate cut in March.

然而，一些分析師表示，這項消息可能為聯準會三月降息奠定基礎。

Before the inflation data, traders had expected another cut only in the second half of the year.

在通膨數據公佈之前，交易員預計只會在今年下半年再次降息。

John Williams, president of the Federal Reserve Bank of New York, expressed optimism that inflation will continue to come down but offered no clues on when more cuts could be implemented.

紐約聯邦儲備銀行行長約翰威廉斯對通膨將繼續下降表示樂觀，但沒有提供何時實施更多降息的線索。

Fresh data suggests continuing success in reducing inflation, according to his Richmond colleague Tom Barkin, who argued that rates should remain conservative. The numbers were used by Chicago Fed President Austan Goolsbee to back his prediction that pricing pressures will ease.

他在里士滿的同事湯姆·巴爾金 (Tom Barkin) 表示，新數據表明在降低通膨方面持續取得成功，他認為利率應保持保守。芝加哥聯邦儲備銀行行長奧斯坦·古爾斯比用這些數據來支持他的定價壓力將會緩解的預測。

Despite a strong US economy and doubts about the impact of Trump's policies, markets were concerned about the Fed's ability to cut interest rates further.

儘管美國經濟強勁且對川普政策的影響存疑，但市場仍對聯準會進一步降息的能力感到擔憂。

Concerted Cross-Asset Rally

跨資產協同反彈

Stocks and cryptocurrencies both rallied on the softening in the core price index.

股票和加密貨幣均因核心物價指數走軟而上漲。

The Nasdaq 100 and S&P 500 indices both rose after the inflation report, offering respite to Wall Street and adding to speculation that the Fed will continue cutting rates this year.

通膨報告公佈後，納斯達克 100 指數和標準普爾 500 指數雙雙上漲，為華爾街帶來喘息之機，並加劇了聯準會今年將繼續降息的猜測。

The S&P 500 marked its biggest gain since the aftermath of the US election, rising 2% as Wall Street stocks recovered their 2025 losses.

隨著華爾街股市收復 2025 年的跌幅，標普 500 指數上漲 2%，創下美國大選後的最大漲幅。

Fears that a 5% rate could be on the horizon were eased as a rally in Treasuries drove 10-year rates down by about 15 basis points.

隨著美國公債上漲推動 10 年期利率下降約 15 個基點，對 5% 利率可能即將到來的擔憂有所緩解。

Energy prices also surged, with a barrel of oil reaching over $80.

能源價格也飆升，每桶石油價格超過 80 美元。

The combined cross-asset漲幅 was the highest for a consumer price index day since late 2023, according to data from Bloomberg.

彭博社的數據顯示，跨資產綜合漲幅為 2023 年底以來消費者物價指數日最高。

The market’s “fear gauge” — the VIX index — marked its biggest decline this year as risk appetite returned.

隨著風險偏好回升，市場的「恐懼指標」——VIX 指數——出現今年最大跌幅。

Trump Trade For Cryptos?

川普交易加密貨幣？

President-elect Trump will be sworn in on January 20, kicking off an administration focused on reform.

當選總統川普將於 1 月 20 日宣誓就職，開啟專注於改革的政府。

Investors are speculating on his pledge to make the US a world leading crypto hub amid the inflationary impact of tariff and immigration policies.

在關稅和移民政策的通膨影響下，投資者正在猜測他將讓美國成為世界領先的加密貨幣中心的承諾。

In the days leading up to the president-elect’s inauguration, expect Trump trade momentum to build.

在候任總統就職前的幾天裡，川普的貿易勢頭預計將會增強。

Elsewhere

別處

Events

活動

Consensus (Hong Kong, 18-20 February)

共識（香港，2 月 18 日至 20 日）

Consensus is heading to Hong Kong, bringing together the industry’s most important voices from East and West for pivotal conversations and deal-making opportunities.

Consensus 即將前往香港，匯集東西界最重要的聲音，進行關鍵對話和交易機會。

Consensus Hong Kong convenes global leaders in tech and finance to debate pressing issues, announce key developments and deals, and share their visions for the future.

香港共識匯集全球科技和金融領域的領導者，討論緊迫問題，宣布關鍵發展和交易，並分享他們對未來的願景。

Use promo code BLOCKDESK20 at checkout for a 20% discount on

結帳時使用促銷代碼 BLOCKDESK20 可享 20% 折扣