10月美國核心PCE物價指數年增2.8%，BTC價格突破97,000美元

週三，美國10月核心PCE物價指數年增2.8%，符合預期，但仍高於聯準會2%的目標。

The U.S. core PCE price index for October rose 2.8% year-on-year on Wednesday, largely in line with expectations. However, this reading still marks a deviation from the Fed’s 2% target. This data further stoked market concerns about continued high inflation and raised questions about the effectiveness of the Fed’s monetary policy tightening.

週三美國10月核心PCE物價指數年增2.8%，基本符合預期。然而，這項數據仍偏離聯準會2%的目標。這項數據進一步引發了市場對持續高通膨的擔憂，並引發了對聯準會收緊貨幣政策有效性的質疑。

This situation has left the Fed facing a tricky policy dilemma, according to Crescat Capital macro strategist Tavi Costa. He warned that the risk of a second wave of inflation appears to be brewing. If this happens, the Fed will face a difficult choice: further interest rate hikes could increase the government's debt burden, while slowing the pace of rate hikes could cause inflation to get out of control.

Crescat Capital宏觀策略師塔維科斯塔表示，這種情況使聯準會面臨棘手的政策困境。他警告稱，第二波通膨風險似乎正在醞釀。如果發生這種情況，聯準會將面臨一個艱難的選擇：進一步升息可能會增加政府的債務負擔，而放慢升息步伐則可能導致通膨失控。

In response, U.S. stocks fell, while the crypto market rose against the trend.

受此影響，美股下跌，加密貨幣市場逆勢上漲。

Faced with inflationary pressure and uncertainty about the Fed's policies, traditional financial markets were cautious. All three major U.S. stock indexes fell. As of the close, the S&P, Dow Jones and Nasdaq fell 0.42%, 0.30% and 0.66% respectively.

面對通膨壓力和聯準會政策的不確定性，傳統金融市場表現謹慎。美國三大股指全部下跌。截至收盤，標普、道瓊斯和納指分別下跌0.42%、0.30%和0.66%。

However, the crypto market showed strong resilience. Bitcoin prices rose sharply on Wednesday, breaking through the $97,000 mark, and Ethereum rose more than 10%, hitting a multi-month high. Ethereum (ETH) rose 10%, reaching a high of $3,687.01 during the day, the highest since June.

然而，加密貨幣市場表現出強大的韌性。週三比特幣價格大幅上漲，突破9,7,000美元大關，以太幣漲幅超過10%，創數月新高。以太幣（ETH）日內上漲 10%，觸及 3,687.01 美元高點，為 6 月以來最高。

The top 200 tokens by market capitalization all rose. Among them, Kadena (KDA) ranked first with a 25.3% increase, followed by Uniswap (UNI) with a 23.7% increase, and PancakeSwap (CAKE) with a 22% increase.

市值前200的代幣全部上漲。其中，嘉手納（KDA）以25.3%的漲幅排名第一，其次是Uniswap（UNI），漲幅為23.7%，PancakeSwap（CAKE）漲幅為22%。

The current overall market value of cryptocurrencies is $3.34 trillion, and Bitcoin’s market share is 57.1%.

目前加密貨幣整體市值為3.34兆美元，比特幣的市佔率為57.1%。

According to Coinglass, the Ethereum ETF recorded positive capital inflows for three consecutive days, with a net inflow of up to $40.6 million on Tuesday. This trend sharply contrasts with the continued net outflow of Bitcoin ETF. QCP Capital analysts noted that the market is shifting funds from Bitcoin to Ethereum and altcoins. This phenomenon is driven not only by investors' expectations for the altcoin season but also by the ecological development of Ethereum itself and the strong performance of the derivatives market.

根據Coinglass統計，以太坊ETF連續三天錄得資金正流入，週二淨流入高達4060萬美元。這一趨勢與比特幣ETF持續淨流出形成鮮明對比。 QCP Capital 分析師指出，市場正在將資金從比特幣轉移到以太坊和山寨幣。這一現象的推動不僅是投資者對山寨幣季節的預期，也是以太坊本身的生態發展和衍生性商品市場的強勁表現所推動的。

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