美國公債殖利率飆升，比特幣暴跌，對風險資產造成壓力

根據 Coin Metrics 的數據，旗艦加密貨幣的價格最近下跌了 5%，至 96,529.13 美元。

Bitcoin price dropped on Tuesday morning as Treasury yields rose sharply, putting pressure on risk assets.

週二上午，隨著美國公債殖利率大幅上漲，比特幣價格下跌，對風險資產造成壓力。

The world’s largest cryptocurrency was last trading down by 5% to $96,529.13, according to Coin Metrics. The broader market of cryptocurrencies, as measured by the CoinDesk 20 index, dropped more than 6%.

根據 Coin Metrics 的數據，全球最大的加密貨幣最新交易價格下跌 5%，至 96,529.13 美元。以 CoinDesk 20 指數衡量的加密貨幣大盤下跌超過 6%。

Crypto stocks Coinbase and MicroStrategy fell more than 7% and 10%, respectively. Bitcoin miners Mara Holdings and Core Scientific were down about 5% each.

加密貨幣股票 Coinbase 和 MicroStrategy 分別下跌超過 7% 和 10%。比特幣礦商 Mara Holdings 和 Core Scientific 分別下跌約 5%。

The moves followed a sudden increase in the 10-year U.S. Treasury yield after data released by the Institute for Supply Management showed faster-than-expected growth in the U.S. services sector in December, adding to concerns about stickier inflation. Rising yields tend to pressure growth oriented risk assets.

供應管理協會(Institute for Supply Management)公佈的數據顯示美國服務業12月成長快於預期，加劇了人們對通膨加劇的擔憂，隨後美國10年期國債殖利率突然上升。殖利率上升往往會對成長型風險資產帶來壓力。

Bitcoin traded above $102,000 on Monday and is expected to about double this year from that level. Investors are hoping that clearer regulation will support digital asset prices and in turn benefit stocks like Coinbase and Robinhood.

週一，比特幣交易價格超過 102,000 美元，預計今年將比該水準翻倍。投資人希望更明確的監管能支撐數位資產價格，進而有利於 Coinbase 和 Robinhood 等股票。

However, uncertainty about the path of Federal Reserve interest rate cuts could put bumps in the road for crypto prices. In December, the central bank signaled that although it was cutting rates a third time, it may do fewer rate cuts in 2025 than investors had anticipated. Historically, rate cuts have had a positive effect on bitcoin price while hikes have had a negative impact.

然而，聯準會降息路徑的不確定性可能會對加密貨幣價格帶來障礙。去年12月，央行表示，雖然正在第三次降息，但2025年的降息幅度可能會比投資人預期的少。從歷史上看，降息對比特幣價格有正面影響，而升息則產生負面影響。

Bitcoin is up more than 3% since the start of the year. It posted a 120% gain for 2024.

自今年年初以來，比特幣已上漲超過 3%。 2024 年該公司股價上漲 120%。