比特幣違反了厄運和糖界人群

當股票下垂和債券攀升時，比特幣剛剛捲土重來。在過去一周

Bitcoin is outperforming as traditional markets struggle and bond yields rise.

隨著傳統市場的掙扎和債券收益率的上升，比特幣表現要優越。

The world’s largest crypto pulled off a stealthy comeback as stocks sank and bond yields climbed. Bitcoin is showing unusual strength.

隨著股票沉沒，債券收益率上升，世界上最大的加密貨幣捲土重來。比特幣表現出異常的力量。

Despite the gloomy economic backdrop, the world’s leading cryptocurrency pulled off a surprising feat. As S&P 500 (SPY) and Nasdaq (NDAQ) hit one-year lows and bond yields soared, crypto trading firm Wintermute observed that Bitcoin “held up relatively well, broadly revisiting price levels from around the U.S. election period.”

儘管經濟背景令人沮喪，但世界領先的加密貨幣還是取得了令人驚訝的壯舉。由於標準普爾500指數（間諜）和納斯達克（NDAQ）達到了一年的低點和債券的收益率飆升，加密貨幣貿易公司Wintermute觀察到，比特幣“比特幣相對良好，從美國大選期間開始審視了價格水平。”

This is a big shift from past crises, when Bitcoin usually dived deeper and faster than the rest. But this time, as the world’s largest economy faced a crucial moment, Bitcoin managed to stay afloat.

這與過去的危機相去甚遠，當時比特幣通常比其他危機更深入，更快。但是這次，由於世界上最大的經濟體面臨著關鍵時刻，比特幣設法保持了漂浮。

Relative strength is a sign of maturity, said economists at the firm.

該公司的經濟學家說，相對力量是成熟的標誌。

But it’s not just macro trends keeping Bitcoin afloat. Analyst Alex Obchakevich told Cointelegraph that Bitcoin’s growing institutional presence—especially via ETFs—is giving it a new identity as “digital gold.”

但這不僅僅是使比特幣漂浮的宏觀趨勢。分析師Alex Obchakevich告訴Cointelegraph，比特幣不斷增長的機構存在，尤其是通過ETF，它使其成為“數字黃金”的新身份。

This is in contrast to stocks, which are largely driven by short-term macro trends. But to truly understand Bitcoin’s resilience, we need to look at the broader economic picture.

這與很大程度上由短期宏觀趨勢驅動的股票相反。但是，要真正了解比特幣的韌性，我們需要研究更廣泛的經濟形象。

Cooling Inflation Could Keep Crypto Climbing

冷卻通貨膨脹可能會保持加密貨幣

The economic data is shifting. U.S. Bureau of Labor Statistics figures show that the Consumer Price Index dipped 0.1% month-on-month in March. This is the first decline since December 2020, signaling a slowdown in inflation.

經濟數據正在轉移。美國勞工統計局的數據顯示，消費者價格指數在3月份下降了0.1％。這是自2020年12月以來的第一次下降，標誌著通貨膨脹率放緩。

The world’s largest economy had seen an annual inflation rate of 0.4% in February, but it slid to -0.2% in March. Economists had anticipated a 0.3% decline.

全球最大的經濟體的年度通貨膨脹率在2月份為0.4％，但3月份下滑至-0.2％。經濟學家預計下降了0.3％。

Meanwhile, Producer Price Index growth also slowed down from 0.6% to 0.1% in March. This is compared to the anticipated 0.4% decline.

同時，生產商價格指數增長也從3月份的0.6％降低到0.1％。這與預期的0.4％下降相比。

However, the U.S. PPI growth had slid from 0.6% to -0.1%, whereas economists predicted a 0.4% decline.

但是，美國PPI增長率從0.6％下降到-0.1％，而經濟學家預測下降了0.4％。

But don’t get too comfy. Rising global trade tensions, especially from new U.S. tariffs, could push inflation back up, warned Wintermute.

但是不要太舒適。 Wintermute警告說，全球貿易緊張局勢不斷上升，尤其是來自新的美國關稅，可能會推動通貨膨脹率恢復。

Public Companies Boost Bitcoin Holdings

上市公司增強比特幣持有

In other news, public companies are boosting their Bitcoin presence. According to Bitwise, 12 new firms added Bitcoin in Q1, pushing total corporate holdings up 16% to 688,000 BTC.

在其他新聞中，上市公司正在促進其比特幣的存在。根據Bitwise的數據，12家新公司在第一季度增加了比特幣，將總公司持有量提高了16％至688,000 BTC。

This stash is now worth around $57 billion. Among them, 10 firms held at least 10,000 BTC by the end of March.

現在，這個藏匿處的價值約為570億美元。在其中，到3月底，有10家公司至少擁有10,000 BTC。

Michael Saylor’s Strategy (MSTR) led the charge with another $285 million Bitcoin purchase last week. The firm now holds a staggering 531,644 BTC, acquired at an average cost of $67,556.

邁克爾·塞勒（Michael Saylor）的策略（MSTR）上週以另外2.85億美元的比特幣購買領先。該公司現在擁​​有驚人的531,644 BTC，平均成本為67,556美元。

This puts them deep in the green—sitting on billions in unrealized gains, according to Saylortracker. Only a 30% drop from peak prices would wipe out all of Saylor’s firm’s profit from its seven-year crypto journey.

據Saylortracker說，這使他們深入綠色，這是數十億個未實現的收益。高峰價格只有30％的跌幅可以從其七年的加密貨幣之旅中消除Saylor公司的所有利潤。

One standout? Hong Kong’s Ming Shing Group (HKG:8498) grabbed 833 BTC through its subsidiary.

一個傑出的？香港的明星小組（HKG：8498）通過其子公司抓住了833 BTC。

And in Japan, Metaplanet (JP:3350) scooped up 319 more BTC this week—taking its total to over 4,500 coins. It now ranks 10th among public holders.

在日本，Metaplanet（JP：3350）本週又增加了319個BTC，將其總計超過4,500枚硬幣。現在，它在公共持有人中排名第十。