比特幣的「數位黃金」地位將在通膨擔憂中推動需求：Coinbase

Coinbase 預測，由於通膨擔憂，比特幣的需求將會增加，並將其視為「數位黃金」。現貨比特幣 ETF 大大改變了市場結構，釋放了可以減少波動性的資本。儘管市場波動，Coinbase 仍對加密貨幣市場前景持樂觀態度，並以最近強勁的美國就業報告和即將到來的比特幣減半為積極指標。

Coinbase: Bitcoin's Digital Gold Status to Fuel New Demand Amidst Inflation Concerns

Coinbase：比特幣的數位黃金地位將在通膨擔憂中刺激新需求

In a comprehensive research report released on Friday, Coinbase, the leading cryptocurrency exchange, presented a bullish outlook for the cryptocurrency market in the second quarter. This optimism stems from bitcoin's growing acceptance as "digital gold," a perception that could attract substantial demand in the current macroeconomic environment.

在周五發布的綜合研究報告中，領先的加密貨幣交易所 Coinbase 對第二季加密貨幣市場提出了看漲的前景。這種樂觀情緒源自於比特幣作為「數位黃金」的日益被接受，這種看法可能會在當前宏觀經濟環境下吸引大量需求。

The report highlights the significance of the capital unlocked by spot bitcoin exchange-traded funds (ETFs) in the U.S. This development marks a fundamental shift in market structure compared to the previous crypto cycle. The easier accessibility to bitcoin through ETFs is expected to reduce volatility and provide support for price stability.

該報告強調了美國現貨比特幣交易所交易基金（ETF）釋放的資金的重要性。與先前的加密貨幣週期相比，這一發展標誌著市場結構的根本性轉變。透過 ETF 更容易獲取比特幣預計將減少波動性並為價格穩定提供支援。

According to Coinbase analyst David Han, bitcoin's increased acceptance as a form of digital gold could attract a new cohort of investors. This demand could provide a buffer against market downturns, enabling more aggressive buying during dips despite ongoing price volatility.

Coinbase 分析師 David Han 表示，比特幣作為一種數位黃金形式的接受度不斷提高，可能會吸引一群新的投資者。這種需求可以為市場低迷提供緩衝，儘管價格持續波動，但在下跌期間仍可進行更積極的買盤。

The report also highlights concerns about inflation, citing the recent hawkish stance of the Federal Reserve and the surprisingly strong U.S. jobs market. Gold, a traditional safe haven during inflationary periods, has outperformed other assets, suggesting that investors are seeking alternatives to hedge against rising prices.

該報告還強調了對通膨的擔憂，理由是聯準會最近的強硬立場以及美國就業市場出乎意料的強勁。黃金是通膨時期的傳統避風港，表現優於其他資產，顯示投資者正在尋找替代品來對沖價格上漲。

Given the correlation between gold and bitcoin, Coinbase believes this bodes well for the cryptocurrency. Investors may flock to bitcoin as a digital alternative to gold, further boosting its demand.

鑑於黃金和比特幣之間的相關性，Coinbase 認為這對加密貨幣來說是個好兆頭。投資者可能會湧向比特幣作為黃金的數位替代品，進一步提振其需求。

The upcoming bitcoin halving in April, which will reduce the supply of bitcoin by 50%, is another positive catalyst mentioned in the report. This event is expected to further restrict supply and potentially drive up prices.

即將到來的4月比特幣減半，將使比特幣的供應量減少50%，是報告中提到的另一個積極催化劑。預計這一事件將進一步限制供應並可能推高價格。

Coinbase remains largely optimistic about the cryptocurrency market in the second quarter. The combination of bitcoin's digital gold status, the capital injection from spot ETFs, and the upcoming halving provides a strong foundation for growth. Despite ongoing volatility, the report suggests that dips are likely to be met with aggressive buying, supporting a bullish outlook for the coming months.

Coinbase 對第二季的加密貨幣市場仍持樂觀態度。比特幣的數位黃金地位、現貨ETF的注資以及即將到來的減半，為成長奠定了堅實的基礎。儘管波動持續存在，但該報告表明，價格下跌可能會引發積極的買盤，從而支持未來幾個月的看漲前景。

The cryptocurrency market has experienced a downturn in recent weeks, along with other risk assets, following the Federal Reserve's cautious stance on future interest rate cuts. However, Coinbase's analysis suggests that bitcoin's unique characteristics could provide resilience in this environment, attracting investors seeking protection against inflation and a potential alternative to traditional safe havens.

在聯準會對未來降息採取謹慎立場之後，加密貨幣市場以及其他風險資產在最近幾週經歷了低迷。然而，Coinbase 的分析表明，比特幣的獨特特性可以在這種環境下提供彈性，吸引尋求抵禦通膨和傳統避風港潛在替代品的投資者。