聯準會暗示 2025 年降息放緩後，比特幣跌破 92,000 美元

週五上午，領先的加密貨幣交易價格為 94,104.06 美元，較過去一天下跌約 7.7%。自本周初以來，比特幣已下跌超過 10%

Bitcoin price fell sharply early Friday morning before recovering some ground, as the Federal Reserve signaled a slowdown in interest rate cuts for 2025.

由於聯準會暗示 2025 年降息步伐放緩，比特幣價格週五凌晨大幅下跌，隨後收復部分失地。

The world’s largest cryptocurrency traded at $94,104.06 on Friday morning, down about 7.7% over the past day. Bitcoin has slumped more than 10% since the start of the week, when it hit highs of more than $106,000.

週五上午，全球最大的加密貨幣交易價格為 94,104.06 美元，較過去一天下跌約 7.7%。自本周初觸及 106,000 美元以上高點以來，比特幣已下跌超過 10%。

Ether, the second-largest cryptocurrency by volume, was down 12% to $3,237.77. Other major digital assets, including Solana and Cardano, similarly saw double-digit declines in value over the last 24 hours.

以交易量計算的第二大加密貨幣以太幣下跌 12%，至 3,237.77 美元。包括 Solana 和 Cardano 在內的其他主要數位資產在過去 24 小時內的價值也出現了兩位數的下跌。

The losses come after the Fed’s third and final interest rate cut of the year. On Wednesday, the Federal Open Market Committee voted to reduce the federal funds rate by a quarter point, to between 4.25% and 4.50%.

這些損失是在聯準會今年第三次也是最後一次降息之後發生的。週三，聯邦公開市場委員會投票決定將聯邦基金利率降低四分之一個百分點，至 4.25% 至 4.50% 之間。

While lower interest rates tends to favor markets, even cryptocurrencies, because they improve investors’ appetite for risk and create excess capital used for investments, Bitcoin has taken a hit this week.

雖然較低的利率往往有利於市場，甚至是加密貨幣，因為它們提高了投資者的風險偏好並創造了用於投資的過剩資本，但比特幣本週受到了打擊。

That’s because the central bank returned its focus to concerns about inflation, which is still running hotter than the Fed had hoped for just a few months ago. The Fed indicated in its updated Summary of Economic Projections on Wednesday that, given quarter-point cuts, it could carry out just two reductions of the federal funds rate in 2025. That’s half the number it had previously expected.

這是因為央行將注意力重新轉移到對通膨的擔憂上，而通膨仍然比聯準會幾個月前的預期要高。聯準會在周三更新的經濟預測摘要中表示，考慮到降息 25 個百分點，到 2025 年聯邦基金利率可能只會下調兩次。

“With today’s action, we have lowered our policy rate by a full percentage point from its peak and our policy stance is now significantly less restrictive,” Fed Chair Jerome Powell said in a new conference Wednesday. “We can therefore be more cautious as we consider further adjustments to our policy rate.”

聯準會主席鮑威爾在周三的新會議上表示：“通過今天的行動，我們已將政策利率從峰值降低了整整一個百分點，我們的政策立場現在的限制性明顯減少。” “因此，在考慮進一步調整政策利率時，我們可以更加謹慎。”

Central bankers also raised their inflation forecasts as year-end 2024 expectations have, in Powell’s words, “kind of fallen apart.” The Fed is now projecting headline inflation of 2.4%, a slight increase from 2.3% anticipated in September, and core inflation of 2.8%, up from 2.6%. The Fed also raised its 2024 GDP growth projection to 2.5%.

央行行長們也上調了通膨預期，因為用鮑威爾的話來說，2024 年底的預期「有點分崩離析」。聯準會目前預期整體通膨率為 2.4%，略高於 9 月預期的 2.3%，核心通膨率為 2.8%，高於 2.6%。聯準會也將2024年GDP成長預測上調至2.5%。

While Bitcoin has historically fared well against inflation, economic uncertainty and resurgent inflation fears can drive investors away from riskier assets and toward safer bets such as Treasury notes.

儘管比特幣在對抗通膨方面歷來表現良好，但經濟不確定性和通膨擔憂再度抬頭可能會促使投資者遠離風險較高的資產，轉向國債等更安全的投資。

In his news conference, Powell also cast doubt on the feasibility of President-elect Donald Trump’s vows to set up a strategic Bitcoin reserve.

鮑威爾在記者會上也對當選總統川普建立比特幣戰略儲備的誓言的可行性表示懷疑。

“We are not allowed to own Bitcoin,” he told reporters. “The Federal Reserve says what we can own and we’re not looking for a law change. That’s the kind of thing for Congress to consider but we are not looking for a law change at the Fed.”

「我們不被允許擁有比特幣，」他告訴記者。 「聯準會規定了我們可以擁有什麼，我們並不尋求改變法律。這是國會需要考慮的事情，但我們並不尋求美聯儲修改法律。

Trump embraced cryptocurrencies during his campaign, pitching himself as the “crypto candidate” and “crypto president” while courting tech leaders.

川普在競選期間擁抱加密貨幣，將自己定位為“加密貨幣候選人”和“加密貨幣總統”，同時向科技領袖示好。

In addition to promising a strategic national Bitcoin reserve, Trump has called for all Bitcoin to be mined in the U.S., and attached his name to multiple crypto projects throughout the year.

除了承諾建立戰略性的國家比特幣儲備外，川普還呼籲所有比特幣都在美國開採，並全年將他的名字與多個加密項目聯繫在一起。

Trump has tapped Paul Atkins, a cryptocurrency advocate, to replace Securities and Exchange Commission Chair Gary Gensler. Atkins, who now leads the consulting firm Patomak Global Partners, has chaired The Digital Chamber’s Token Alliance since 2017, which was charged with advocating best practices and recommending legal frameworks that promote the crypto industry.

川普任命加密貨幣倡導者保羅·阿特金斯 (Paul Atkins) 接替美國證券交易委員會主席加里·詹斯勒 (Gary Gensler)。阿特金斯現任顧問公司 Patomak Global Partners 的負責人，自 2017 年以來一直擔任數位商會代幣聯盟的主席，該聯盟負責倡導最佳實踐並推薦促進加密產業發展的法律框架。