唐納德·川普 (Donald Trump) 決勝總統大選和市場整體情況，加密貨幣市場立即做出反應

唐納德·川普決定性地贏得了總統選舉和整體市場，加密貨幣市場立即做出了反應。股市上漲2%，道瓊指數大幅上漲43.47點。比特幣達到歷史新高，在選舉日攀升至 7.4 萬美元，隨後突破 7.72 萬美元，目前在 7.63 萬美元左右盤整。

Donald Trump's victory in the presidential election had an immediate impact on markets, with stock markets rising by 2% and the Dow Jones index recording a significant jump of 43.47 points. Bitcoin also reached all-time highs, climbing to $74K on Election Day and later surpassing $77.2K, currently consolidating around $76.3K.

唐納德·川普在總統選舉中獲勝對市場產生了立竿見影的影響，股市上漲2%，道瓊斯指數大幅上漲43.47點。比特幣也達到了歷史新高，在選舉日攀升至 7.4 萬美元，隨後突破 7.72 萬美元，目前在 7.63 萬美元左右盤整。

Let's take a closer look at how this much-anticipated event has affected the political and economic climate, what the markets are expecting, and what possible developments are likely to follow.

讓我們仔細看看這起備受期待的事件如何影響政治和經濟氣候、市場的預期以及接下來可能出現的發展。

Politics

政治

Starting with the key factor—politics—it seems to signal fundamental changes regarding the current and likely future situation. While it may have seemed unthinkable five years ago, politics now plays a significant role in shaping the crypto market, and this influence is expected to increase.

從關鍵因素——政治——開始，這似乎預示著當前和未來可能出現的情況發生根本性變化。雖然這在五年前似乎是不可想像的，但現在政治在塑造加密貨幣市場方面發揮著重要作用，而且這種影響力預計還會增加。

And there is probably the first Bitcoin president in U.S. history because Trump’s statements suggest a greater alignment with crypto compared to his opponents, such as Kamala Harris. However, we are not here to just believe the statements but to research the real movements and their effects, which are yet to be felt by the entire crypto community.

美國歷史上可能出現第一位比特幣總統，因為川普的聲明表明，與卡馬拉·哈里斯等他的對手相比，川普更傾向於加密貨幣。然而，我們來這裡不僅僅是為了相信這些陳述，而是為了研究真正的動向及其影響，而整個加密社區尚未感受到這些動向。

Still, Nayib Bukele, who boldly challenged the IMF and other financial institutions by adopting a Bitcoin standard, was the first to congratulate Donald Trump on his victory.

儘管如此，通過採用比特幣標準大膽挑戰國際貨幣基金組織和其他金融機構的納伊布·布克萊（Nayib Bukele）是第一個祝賀唐納德·特朗普獲勝的人。

Also, Michael Saylor, one of the key figures for Bitcoin and crypto, labeled Donald Trump’s victory as the arrival of the first crypto president in U.S. history.

此外，比特幣和加密貨幣領域的關鍵人物之一邁克爾·塞勒(Michael Saylor)將唐納德·川普的勝利稱為美國歷史上第一位加密貨幣總統的到來。

Senator Cynthia Lummis has reinforced her crypto bill to establish a strategic Bitcoin reserve in the U.S., which now stands a better chance of becoming a historic document, not just for America but for the world. This crypto bill envisions the purchase of 200,000 BTC annually for five years, and she predicts that within 12 weeks, other countries will also begin adopting similar Bitcoin reserves.

參議員辛西婭·魯米斯 (Cynthia Lummis) 強化了她的加密貨幣法案，以在美國建立戰略性比特幣儲備，現在該儲備更有可能成為歷史性文件，不僅對美國而且對世界而言。該加密貨幣法案設想在五年內每年購買 20 萬BTC，她預測在 12 週內，其他國家也將開始採用類似的比特幣儲備。

If this scenario does unfold, the US as the world’s largest economy could indeed provide a very powerful incentive for similar initiatives for other nations around the world, and some have already started preparing for this in advance.

如果這種情況確實發生，美國作為世界最大經濟體確實可以為世界其他國家採取類似措施提供非常強大的動力，有些國家已經開始提前為此做好準備。

Of course, everyone has started preparing in their own way. Remember how Germany recently sold off all of its Bitcoin reserves for an average of $54K? Your comments are welcome.

當然，每個人都已經開始以自己的方式進行準備。還記得德國最近如何以平均 5.4 萬美元的價格出售所有比特幣儲備嗎？歡迎您提出寶貴意見。

Also, there is a chance that Donald Trump may launch several initiatives and investigations into the activities of the previous administration. But don’t be in a hurry, there is no need to overestimate his real possibilities, as the system works a little differently.

此外，唐納德·川普有可能對前政府的活動發起多項舉措和調查。但不要著急，沒有必要高估他的真實可能性，因為系統的工作方式略有不同。

Yes, Donald Trump’s victory is not the only victory for the Republicans, as they also take the majority, namely 253 representatives in the House of Representatives and 16 pro-crypto senators in Congress for the next two years. In all likelihood, this does seem to be in line with the sentiment of the majority of Americans if you look at this map, which demonstrates the so-called red wave and has also fundamentally discredited the credibility of social polls.

是的，唐納德·川普的勝利並不是共和黨的唯一勝利，因為他們還佔據了多數席位，即未來兩年在眾議院擁有 253 名代表，在國會擁有 16 名支持加密貨幣的參議員。很可能，這似乎符合大多數美國人的情緒，如果你看看這張地圖，它展示了所謂的紅色浪潮，也從根本上損害了社會民意調查的可信度。

However, this is still not enough to overcome the filibuster, meaning that the Democrats will need to negotiate and may be able to block several initiatives.

然而，這仍然不足以克服阻撓議事，這意味著民主黨將需要進行談判，並且可能能夠阻止多項措施。

A possible subject of investigation is the Checkpoint 2.0 operation, allegedly directed by Democrats against cryptocurrency and its participants. It is also worth noting that Senate Banking Committee Chair Sherrod Brown of Ohio has lost his senate seat and overall it seems that a trend is emerging where an anti-crypto stance is a threat to political careers and a number of politicians need to think about it to keep the electorate.

一個可能的調查對像是 Checkpoint 2.0 操作，據稱該操作是由民主黨針對加密貨幣及其參與者發起的。另外值得注意的是，俄亥俄州參議院銀行委員會主席謝羅德·布朗(Sherrod Brown)失去了參議院席位，總體而言，似乎正在出現一種趨勢，即反加密立場對政治生涯構成威脅，許多政治家需要考慮這點以留住選民。

Economy

經濟

Let’s take a look at the global economy and markets, and the challenges that the new administration will have to deal with.

讓我們來看看全球經濟和市場，以及新政府將要應對的挑戰。

Let’s start with the good news that in the short term, the economy has reacted positively to the outcome of the election, and while America is in a red tide, stock markets are blooming in green.

先說好消息，短期內經濟對大選結果反應積極，美國陷入紅潮的同時，股市卻綠意盎然。

The same thing is happening with the entire crypto market, but we will come back to it a little later.

整個加密市場也發生了同樣的事情，但我們稍後會再討論這個問題。

Market stocks rose by 2% and the Dow Jones rating posted a record jump to 43.47, ten-year Treasury yields and the U.S. dollar rose, while gold declined.

市場股票上漲2%，道瓊斯評級創歷史新高至43.47，十年期公債殖利率和美元上漲，而黃金下跌。

Investors are looking for higher real economic growth rather than inflation and the US Fed has also made a planned 25 basis point interest rate cut, but some have questions about further cuts as at the same time inflation expectations are also rising.

投資人正在尋求更高的實際經濟成長而不是通膨，聯準會也計劃降息25個基點，但有些人對進一步降息提出質疑，同時通膨預期也在上升。

The rise in Treasury Inflation-Protected Securities (TIPS) suggests market anticipation of inflationary risks due to Trump’s economic agenda, including tax cuts, that may stimulate growth, but fiscal expansion and tax incentives could drive consumer prices higher, potentially adding volatility to the recovering bond market.

通膨保值國債（TIPS）的上漲表明，市場預期川普的經濟議程（包括減稅）可能會刺激經濟成長，從而引發通膨風險，但財政擴張和稅收優惠可能會推高消費者價格，從而可能增加經濟復甦的波動性。

Meanwhile, the delinquency rate on commercial mortgage-backed securities (CMBS) for offices jumped to 9.4% in October, the highest in 11 years, and the delinquency rate on

與此同時，10 月辦公室商業抵押貸款支持證券 (CMBS) 的拖欠率躍升至 9.4%，為 11 年來的最高水平，