中國人民幣（CNY）在18年內達到了最低水平（美元）

2025年4月10日，中國人民幣（CNY）在18年內達到了最低水平（美元）

On April 10, 2025, the Chinese yuan (CNY) hit its lowest level in 18 years against the US dollar (USD) amid escalating tensions in the ongoing trade war between the two global economic giants.

2025年4月10日，中國人民幣（CNY）在18年來兌美元（美元）中達到了其最低水平，這是兩家全球經濟巨頭之間正在進行的貿易戰的不斷加劇。

This significant milestone in China’s monetary policy has sparked renewed discussions about its implications for the cryptocurrency market—particularly Bitcoin (BTC).

中國貨幣政策中的這一重要里程碑引發了人們對其對加密貨幣市場的影響（尤其是比特幣（BTC））的重新討論。

CNY Devaluation Amid US-China Trade War

美國 - 中國貿易戰中的cny貶值

One must first consider the broader economic context to understand the CNY devaluation. China is under heavy pressure from a trade war with the United States, especially after the US imposed a sweeping 104% tariff on Chinese goods.

必須首先考慮更廣泛的經濟環境，以了解CNY貶值。中國面臨著與美國的貿易戰爭的巨大壓力，尤其是在美國對中國商品徵收104％的關稅之後。

In retaliation, China introduced an 84% tariff on imports from the US. These measures have intensified economic friction between the two nations and placed the Chinese currency in a downward spiral.

在報復中，中國對美國進口徵收84％的關稅。這些措施加劇了兩國之間的經濟摩擦，並將中國貨幣置於螺旋上。

According to data from TradingView, the USD/CNY reference rate currently sits at 7.3412. Historical data shows that the yuan has fallen to its lowest point since 2007. This suggests that China may intentionally loosen monetary controls to support its export-driven economy as it grapples with slowing growth.

根據TradingView的數據，USD/CNY參考率目前為7.3412。歷史數據表明，人民幣已經跌至自2007年以來的最低點。這表明中國可能會故意放鬆貨幣控制，以支持其出口驅動的經濟，因為它與增長的增長陷入了緩慢。

A Bullish Signal for Bitcoin and the Crypto Market

比特幣和加密市場的看漲信號

Arthur Hayes, co-founder of BitMEX, highlighted the potential link between the CNY devaluation and Bitcoin’s rise in a recent post on X (formerly Twitter). Hayes noted similar patterns in 2013 and 2015 when Chinese investors turned to Bitcoin as a haven. He predicts a repeat in 2025 as investors seek to shield their wealth from the falling yuan.

BITMEX的聯合創始人Arthur Hayes在最近在X（以前是Twitter）上的一篇文章中強調了CNY貶值與比特幣崛起之間的潛在聯繫。海斯（Hayes）在2013年和2015年指出了類似的模式，當時中國投資者將比特幣視為天堂。他預測，由於投資者試圖將財富免受下落的人民峰的影響，他將在2025年進行重複。

“CNY deval = narrative that Chinese capital flight will flow into $BTC,” Hayes remarked.

海斯說：“ cny deval =中國資本飛行將流向$ btc的敘述。”

In 2013, during stringent financial controls in China, Bitcoin emerged as an attractive alternative asset.

2013年，在中國嚴格的財務控制期間，比特幣成為一種有吸引力的替代資產。

“I think the Chinese really look to bitcoin as an excellent digital store of value, sort of like the new electronic version of gold.” said Bobby Lee, CEO of BTC China.

“我認為中國人確實將比特幣視為一種出色的價值數字商店，有點像新的電子版本。” BTC中國首席執行官Bobby Lee說。

This tendency became even more pronounced due to China’s strict capital control measures. These measures limit individuals from transferring just $50,000 abroad annually. As the yuan depreciates, Chinese citizens see their domestic purchasing power decline, prompting them to seek alternative stores of value.

由於中國的嚴格資本控制措施，這種趨勢變得更加明顯。這些措施限制了個人每年僅轉移50,000美元。正如人民幣貶值的那樣，中國公民看到他們的國內購買力下降，促使他們尋求替代價值的替代商品。

With its decentralized nature and independence from government control, Bitcoin has become an appealing option.

比特幣憑藉其分散的性質和遠離政府控制的獨立性，已成為一種吸引人的選擇。

In 2017, when China tightened capital controls and banned domestic cryptocurrency exchanges, Forbes reported that Chinese investors flocked to Bitcoin to bypass these restrictions. This surge in demand pushed trading volume on platforms like Huobi (HTX) and OKX to record highs.

2017年，當中國收緊資本管制並禁止國內加密貨幣交易所時，福布斯報告說，中國投資者湧向比特幣以繞過這些限制。這種需求激增推動了Huobi（HTX）和OKX等平台上的交易量以記錄高點。

At one point, these Chinese exchanges accounted for more than 90% of global Bitcoin trading volume. However, as the CNY strengthened, Bitcoin prices fell.

在某一時刻，這些中國交易所佔全球比特幣交易量的90％以上。但是，隨著CNY的加強，比特幣價格下跌。

In 2020, the weakening of the yuan again drew analysts’ attention. Chris Burniske, a well-known voice in the crypto space, predicted that a weaker yuan could drive Bitcoin prices higher—mirroring patterns observed in 2015 and 2016. He emphasized that if the CNY continues to fall against the USD, Bitcoin could enter another strong growth phase.

在2020年，人民幣的削弱再次引起了分析師的注意。克里斯·伯尼斯克（Chris Burniske）是加密貨幣領域中著名的聲音，他預測較弱的人民幣可能會提高比特幣價格 - 在2015年和2016年觀察到的鍛煉模式。他強調，如果CNY繼續違反美元，比特幣可能會進入另一個強勁的增長階段。

The yuan’s plunge to an 18-year low in 2025 could signal another bullish cycle for Bitcoin. First, strict capital controls remain, limiting Chinese investors’ ability to move wealth overseas. This restriction makes Bitcoin a viable option for capital preservation.

元素在2025年的跌至18年低點可能標誌著比特幣的另一個看漲週期。首先，仍然存在嚴格的資本管制，限制了中國投資者將財富轉移到海外的能力。該限制使比特幣成為可行的資本保存選擇。

Second, historical patterns reinforce the view that a weakening CNY often coincides with Bitcoin’s upward momentum.

其次，歷史模式強化了這樣一種觀點，即弱化的CNY經常與比特幣的向上勢頭相吻合。

Finally, global market sentiment could shift as investors anticipate capital outflows from China entering Bitcoin, further fueling price gains. As the world watches China’s monetary decisions closely, Bitcoin stands poised to benefit as a hedge against devaluation and a global store of value in uncertain times.

最後，隨著投資者預期從中國進入比特幣的資本流出，進一步推動了價格上漲，全球市場情緒可能會發生變化。當世界緊密關注中國的貨幣決定時，比特幣立場準備好受益，以抵抗貶值和在不確定時期的全球價值存儲。