比特幣創歷史新高後觸及 100,430 美元，但鮑威爾的降息警告擾亂了加密市場

比特幣是市值最大的加密貨幣，在本週稍早短暫觸及 108,000 美元的歷史新高後，過去 24 小時內大幅下跌 5%，跌至 100,430 美元。

The Federal Reserve’s decision to cut interest rates by a quarter point was largely anticipated by markets, but a statement from Fed Chair Jerome Powell indicating a cautious approach to further rate cuts in 2025 appeared to spook investors, leading them to sell off high-risk assets like cryptocurrencies and U.S. equities.

聯準會降息25個基點的決定在很大程度上是市場預期的，但聯準會主席鮑威爾的聲明表明對2025年進一步降息採取謹慎態度，這似乎嚇壞了投資者，導致他們拋售高風險資產例如加密貨幣和美國股票。

Bitcoin, the largest cryptocurrency by market capitalization, saw a sharp 5% drop in the past 24 hours, falling to $100,430 after briefly hitting a new all-time high of $108,000 earlier in the week. The downturn came as part of a broader market unease following Powell’s comments, which erased gains from three consecutive days of record-breaking highs.

比特幣是市值最大的加密貨幣，在本週稍早短暫觸及 108,000 美元的歷史新高後，過去 24 小時內大幅下跌 5%，跌至 100,430 美元。這次經濟低迷是鮑威爾言論後更廣泛市場不安的一部分，鮑威爾言論抹去了連續三天創紀錄高點的漲幅。

The price of XRP took an even steeper dive, dropping by 10% in the past 24 hours after a brief spike following Tuesday’s price surge. Similarly, Dogecoin saw a sharp decline of 9%, falling to $0.363, marking a monthly low for the top meme coin.

XRP 的價格在周二價格飆升後出現短暫上漲後，價格出現了更大幅度的下跌，在過去 24 小時內下跌了 10%。同樣，狗狗幣也大幅下跌 9%，跌至 0.363 美元，創下了頂級 meme 代幣的月度低點。

The rate decision led to a cascade of liquidations as traders who had bet on further bullish price moves were caught off guard by the market shift. According to data from CoinGlass, over $690 million in futures positions were liquidated in the past 24 hours, with the majority being long bets. At one point, a staggering $300 million in futures positions were liquidated in just one hour.

由於押注價格進一步看漲的交易者對市場變化措手不及，利率決定導致了一系列清算。 CoinGlass的數據顯示，過去24小時內，超過6.9億美元的期貨部位被清算，其中大部分是多頭押注。一度，短短一小時內就清算了價值 3 億美元的期貨部位。

Cryptocurrencies like Bitcoin have historically performed well in low-interest-rate environments, much like equities, due to the increased appetite for risk and liquidity. However, the Federal Reserve’s aggressive rate hikes in 2022, aimed at combating post-pandemic inflation, dampened the appeal of Bitcoin and similar assets.

由於人們對風險和流動性的胃口增加，比特幣等加密貨幣歷來在低利率環境中表現良好，就像股票一樣。然而，聯準會在 2022 年為應對疫情後通膨而大幅升息，削弱了比特幣和類似資產的吸引力。

This week’s moderate 25-basis-point rate cut signaled a shift in strategy, but Powell’s statement—“We can therefore be more cautious as we consider further adjustments to our policy rate”—left markets on edge, as it raised concerns about the pace of future monetary easing.

本週適度降息 25 個基點標誌著策略的轉變，但鮑威爾的聲明——「因此，我們在考慮進一步調整政策利率時可以更加謹慎」——讓市場感到緊張，因為它引發了對降息步伐的擔憂未來的貨幣寬鬆政策。

Despite Wednesday’s slump, Bitcoin’s recent rally to an all-time high of $108,000 highlighted its growing role in financial markets. Notably, some prominent figures, including former President Donald Trump and other Republicans, have proposed the idea of the U.S. holding Bitcoin in its strategic reserves—a move that, while speculative, further attests to the cryptocurrency’s increasing legitimacy.

儘管週三暴跌，但比特幣最近反彈至 108,000 美元的歷史新高，凸顯了其在金融市場中日益增強的作用。值得注意的是，包括前總統唐納德·川普和其他共和黨人在內的一些知名人物提出了美國將比特幣作為其戰略儲備的想法——此舉雖然具有投機性，但進一步證明了加密貨幣日益增強的合法性。

Earlier this year at the New York Times DealBook Summit, Powell said that Bitcoin is more comparable to gold than to the U.S. dollar, emphasizing its role as a speculative asset rather than a reliable store of value. “Bitcoin is not a competitor for the dollar; it’s really a competitor for gold,” Powell said. However, he dismissed the notion of the Federal Reserve holding Bitcoin, stating, “The Federal Reserve is not permitted to own Bitcoin, nor are we seeking a change in the law.”

今年早些時候，鮑威爾在紐約時報 DealBook 峰會上表示，比特幣更類似於黃金，而不是美元，強調其作為投機資產而不是可靠的價值儲存手段的作用。 「比特幣不是美元的競爭對手；它是美元的競爭對手。它確實是黃金的競爭對手，」鮑威爾說。然而，他駁斥了美聯儲持有比特幣的說法，並表示，“美聯儲不被允許擁有比特幣，我們也不尋求改變法律。”

The volatility following Powell’s remarks highlights the delicate balance that central banks must strike in managing monetary policy without unsettling financial markets. As Bitcoin continues to establish its presence in the mainstream, comparisons to gold are apt, reflecting its growing stature, but its highly speculative nature keeps it closely tied to market sentiment and macroeconomic shifts.

鮑威爾講話後的波動凸顯了央行在管理貨幣政策時必須達到的微妙平衡，同時又不擾亂金融市場。隨著比特幣繼續在主流中佔據一席之地，與黃金進行比較是恰當的，反映出其地位不斷提高，但其高度投機性使其與市場情緒和宏觀經濟變化密切相關。

For now, the crypto market remains at the mercy of cautious monetary policy, with its next moves likely dictated by the Fed’s broader strategy in 2025.

目前，加密貨幣市場仍受到謹慎貨幣政策的影響，其下一步行動可能取決於聯準會 2025 年更廣泛的策略。