市場等待川普就職典禮，比特幣 (BTC) 區間波動於 9.1 萬美元至 9.5 萬美元之間

過去幾天，比特幣的交易價格似乎一直徘徊在 9.1 萬美元（14.78 萬澳元）和 9.5 萬美元（15.43 萬澳元）之間。儘管 BTC 在過去 24 小時內上漲了約 1.3%，但每週仍下跌 2.7%。

Bitcoin price has been trading in a relatively tight range for the past few days, with limited gains or losses. After kicking off the week with a promising rally, BTC’s momentum seems to have stalled somewhat.

過去幾天，比特幣價格一直在相對狹窄的區間內交易，漲幅或損失有限。在本週伊始就出現了有希望的反彈之後，比特幣的勢頭似乎有所停滯。

At the time of writing, BTC trades at around US$92,700 (AU$150.6k), up 1.3% in 24 hours but still down 2.7% on the weekly time frame.

截至本文撰寫時，BTC 交易價格約為 92,700 美元（15.06 萬澳元），24 小時內上漲 1.3%，但每週仍下跌 2.7%。

Bitcoin’s 24-hour price chart, showing a slight gain. Source: TradingView

比特幣24小時價格圖，顯示小幅上漲。來源：TradingView

Relative to recent highs, BTC has dropped around 11% from the all-time peak of US$103,400 (AU$168.2k) seen on December 1. Still, the world’s largest cryptocurrency is up more than 450% year-to-date (YTD).

相較於近期高點，BTC 較 12 月 1 日創下的歷史最高點 103,400 美元（16.82 萬澳元）下跌了約 11%。

Crypto Sell-Off Snowballs as Economic Fears Deepen

隨著經濟擔憂加深，加密貨幣拋售滾雪球

As covered by Decrypt, Bitcoin’s price action comes against a backdrop of worsening economic fears, with a sell-off in crypto snowballing on December 15.

正如 Decrypt 報導的那樣，比特幣的價格走勢是在經濟擔憂不斷惡化的背景下發生的，12 月 15 日加密貨幣拋售如滾雪球般加劇。

The broader crypto market also painted a dull picture on Friday, with most altcoins showing limited price action.

週五，更廣泛的加密貨幣市場也呈現出黯淡的景象，大多數山寨幣的價格走勢有限。

Ethereum (ETH) dropped 8% week-on-week, while Solana (SOL) even dropped 9.8% during the same time. At the time of writing, ETH trades at around US$3,100 (AU$5,040), down 2.3% in 24 hours.

以太坊 (ETH) 每週下跌 8%，而 Solana (SOL) 同期甚至下跌 9.8%。截至撰寫本文時，ETH 交易價格約為 3,100 美元（5,040 澳元），24 小時內下跌 2.3%。

Trump Inauguration Hopes Buoying Bitcoin Ahead of Key Macro Data

川普就職典禮希望在關鍵宏觀數據之前提振比特幣

With just seven days until Donald Trump is officially moving back into the White House, some analysts are suggesting that we’re starting to see the “pre-Inauguration Day rally” kick off.

距離唐納德·川普正式重返白宮僅剩 7 天，一些分析人士表示，我們將開始看到「就職日前集會」拉開序幕。

Investors are hoping that Trump will mention or otherwise acknowledge crypto on inaugural day, January 20.

投資者希望川普能在 1 月 20 日就職典禮當天提及或以其他方式承認加密貨幣。

In a recent note to investors, Swissblock analysts asked whether this will “turn into a ‘buy the rumor, sell the news’ event, leading to a Bitcoin correction before or during that day?”

在最近給投資者的一份報告中，Swissblock 分析師問道，這是否會“變成‘謠言買入，新聞賣出’事件，導致比特幣在當天之前或當天出現回調？”

Or if a new all-time high is on the cards instead:

或者如果有可能創下歷史新高：

Either way, it won’t be an easy couple of days for the OG crypto, because there are substantial macro factors ahead which could influence the path over the short-term.

無論哪種方式，對於 OG 加密貨幣來說，這都不會是輕鬆的幾天，因為未來存在大量宏觀因素可能會影響短期的走勢。

While BTC appears to be holding up well from a technical perspective, the analysts noted that US inflation data and other macroeconomic factors are still likely to cause some volatility, which could spook investors.

儘管從技術角度來看，比特幣似乎表現良好，但分析師指出，美國通膨數據和其他宏觀經濟因素仍可能造成一定波動，這可能會讓投資人感到恐慌。

Stagflation Presents Both Opportunity and Risk for Bitcoin

滯脹為比特幣帶來了機會和風險

Recent economic data showed robust US job growth, but there are still concerns about persistent inflation, high US debt levels, and the possibility of stagflation.

近期經濟數據顯示美國就業成長強勁，但仍存在對持續通膨、美國高債務水平以及滯脹可能性的擔憂。

Stagflation – a combination of high inflation with stagnant growth in the economy – could present both opportunities and challenges for Bitcoin.

滯脹——高通膨與經濟成長停滯的結合——可能為比特幣帶來機會和挑戰。

Its impact on Bitcoin’s price will likely depend on how investors view Bitcoin (as a safe haven or a risk asset) and how governments and central banks respond to the economic conditions.

它對比特幣價格的影響可能取決於投資者如何看待比特幣（作為避險資產或風險資產）以及政府和央行如何應對經濟狀況。

More evidence of stagflation:

更滯脹證據：

The ISM manufacturing PMI index rose to 49.3 points in December, but remained in contraction territory.

12月ISM製造業PMI指數上升至49.3點，但仍處於收縮區間。

This marks the 25th month of contraction out of the last 26, the 2nd longest streak on record.

這是過去 26 個月中出現的第 25 個月出現收縮，也是有記錄以來第二長的連續收縮。

The employment index fell to 45.3 shrinking for… pic.twitter.com/qicFwKGDhW

就業指數跌至 45.3，萎縮… pic.twitter.com/qicFwKGDhW

Analysts at The Kobeissi Letter noted “more evidence of stagflation,” warning:

《科貝西信函》的分析師指出“更多滯脹證據”，並警告說：

“Fidelity Digital Assets research director Chris Kuiper adds that ‘continued large and structural fiscal deficits’ make it easy to envision a second wave of inflation.”

“富達數位資產研究總監克里斯·庫伊珀補充說，’持續的巨額結構性財政赤字’讓人很容易想像第二波通膨。”